# ICE Canada Weekly: Attention on canola to soon turn from yields to demand - Grainews

> Analysts say canola yields on the Canadian Prairies are not yet estimated, but heat has hurt yields in drier areas and late-planted crops. Canola is priced too high to compete with Chicago soy, palm oil and European rapeseed, and China is the main buyer as other importers cut purchases.

- Date: 2024-07-24 · published 2024-07-24T12:00:00.000Z
- Category: trade · region Canada · magnitude low
- Page: https://feedsoft.ai/events/12830-ice-canada-weekly-attention-on-canola-to-soon-turn-from-yields-to-demand
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Canola Meal](https://feedsoft.ai/c/CANMEAL.md)

## Why it matters

Weak export demand outside China, combined with a likely good US soybean crop, limits upside for canola prices despite yield concerns. Demand rather than supply is expected to drive the market next.

## Read by commodity

- SBO: bearish ▼
- CANMEAL: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBO | 2025-01-27 | [U.S. threatening Canada’s canola oil industry - Grainews](https://feedsoft.ai/events/26601-u-s-threatening-canada-s-canola-oil-industry-grainews.md) | +2.0% | +4.1% |
| SBO | 2024-01-25 | [U.S. grains: Soybean, soyoil futures slide on weak demand - AgCanada](https://feedsoft.ai/events/6835-u-s-grains-soybean-soyoil-futures-slide-on-weak-demand-agcanada.md) | -4.6% | -4.7% |
| SBO | 2023-03-15 | [Canola supplies from Australia continue to put pressure on canola prices in the EU](https://feedsoft.ai/events/36957-canola-supplies-from-australia-continue-to-put-pressure-on-canola-prices-in-the.md) | +1.9% | -3.8% |
| SBO | 2025-03-03 | [ICE canola futures fall with oils — TradingView News](https://feedsoft.ai/events/11139-ice-canola-futures-fall-with-oils-tradingview-news.md) | -3.5% | -0.7% |
| SBO | 2025-06-02 | [U.S. grains: Soybeans fall to seven-week low; corn eases, wheat climbs - Grainews](https://feedsoft.ai/events/10946-u-s-grains-soybeans-fall-to-seven-week-low-corn-eases-wheat-climbs-grainews.md) | -2.3% | +5.8% |

## Sources

- farmtario.com: https://farmtario.com/daily/ice-canada-weekly-attention-on-canola-to-soon-turn-from-yields-to-demand/
- grainews.ca: https://www.grainews.ca/daily/ice-canada-weekly-attention-on-canola-to-soon-turn-from-yields-to-demand/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.