# ICE canola weekly outlook: Futures drop as demand fades - Grainews

> ICE canola futures fell to their lowest level in a month on November 20 as end users were well covered and speculative funds added short positions. Analysts cited large South American soybean crops and favorable Brazilian weather as bearish for oilseeds, with Statistics Canada due to update production on December 5.

- Date: 2024-11-20 · published 2024-11-20T12:00:00.000Z
- Category: market · region Canada · magnitude low
- Page: https://feedsoft.ai/events/27509-ice-canola-weekly-outlook-futures-drop-as-demand-fades-grainews
- Commodities: [Canola Meal](https://feedsoft.ai/c/CANMEAL.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Weak demand and bearish soybean supply pressure canola meal and oil prices lower, and the market is waiting for a possible downward revision to Canadian production that may already be priced in.

## Read by commodity

- SOY: bearish ▼
- CANMEAL: bearish ▼

## Sources

- grainews.ca: https://www.grainews.ca/daily/ice-canola-weekly-outlook-futures-drop-as-demand-fades/

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