The USDA supply and demand report indicates that Canada's rapeseed production forecast for the 2026/27 marketing year remains unchanged at 22 million metric tons, holding steady year-over-year. Exports are projected at 8.2 million metric tons (up 7.9% year-over-year), while domestic consumption is estimated at 13.85 million metric tons (up 6.5%). Ending stocks are forecast at 3.126 million metric tons (up 3.3%). The USDA slightly raised its global rapeseed production forecast for 2026/27 to a record 96.91 million metric tons, a 1.4% increase year-over-year.

The USDA report shows a slight upward revision in global rapeseed production to a record 96.91 million metric tons and a 3.3% year-over-year increase in Canadian ending stocks. The overall rapeseed supply appears relatively ample, which dampens cost support for downstream rapeseed oil; combined with the recent weak performance of rapeseed oil futures, this exerts a generally bearish influence on prices.

As rapeseed is the primary raw material for producing rapeseed meal, the report's indication of abundant global supply weakens cost support for the meal, exerting a generally bearish influence on rapeseed meal prices.

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