# ICE Weekly: Trade talks, weather lifting canola prices - Grainews

> ICE November canola rose nearly C$20 per tonne to close at C$734.50 on July 2, after Canada and the US announced renewed trade negotiations on June 30. Talks cover new US biofuel mandates and how much Canadian canola will qualify. Statistics Canada also cut its 2025-26 canola acreage estimate, and dry Prairie weather added support.

- Date: 2025-07-02 · published 2025-07-02T12:00:00.000Z
- Category: trade · region Canada · magnitude medium
- Page: https://feedsoft.ai/events/23873-ice-weekly-trade-talks-weather-lifting-canola-prices-grainews
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Canadian canola access to US biofuel demand could lift vegetable oil prices, while tighter Canadian supplies add support. Any exclusion from US mandates would weigh on canola.

## Read by commodity

- SBO: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBO | 2024-07-03 | [ICE Weekly: ‘Soyoil scare’ fuels canola’s comeback - Grainews](https://feedsoft.ai/events/12750-ice-weekly-soyoil-scare-fuels-canola-s-comeback-grainews.md) | +4.4% | +0.2% |
| SBO | 2017-10-25 | [ICE weekly outlook: Canola enjoying broad-based support - Grainews](https://feedsoft.ai/events/68551-ice-weekly-outlook-canola-enjoying-broad-based-support-grainews.md) | +1.2% | -0.5% |
| SBO | 2023-11-17 | [U.S. goes on canola oil buying spree \| The Western Producer](https://feedsoft.ai/events/33174-u-s-goes-on-canola-oil-buying-spree-the-western-producer.md) | +1.2% | -1.6% |
| SBO | 2018-07-31 | [Soybeans surge on weather, talks with China - Brownfield Ag News](https://feedsoft.ai/events/64054-soybeans-surge-on-weather-talks-with-china-brownfield-ag-news.md) | -0.1% | +0.2% |
| SBO | 2023-10-11 | [Lower sunflower seed prices in the EU and Ukraine](https://feedsoft.ai/events/33750-lower-sunflower-seed-prices-in-the-eu-and-ukraine.md) | +5.1% | -0.7% |

## Sources

- grainews.ca: https://www.grainews.ca/daily/ice-weekly-trade-talks-weather-lifting-canola-prices/

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