# ICE Canada Weekly: Production uncertainty, forthcoming Chinese action fueling canola’s upswing - MarketsFarm

> ICE canola futures have recovered C$36 per tonne since a sharp correction on October 15 and are at a two-and-a-half-month high. Analysts cite uncertainty over Canada's crop, which may fall below Statistics Canada's estimate of nearly 19.0 million tonnes, and steady Chinese buying. The next StatCan crop report is due in early December.

- Date: 2024-10-23 · published 2024-10-23T12:00:00.000Z
- Category: market · region Canada · magnitude low
- Page: https://feedsoft.ai/events/27852-ice-canada-weekly-production-uncertainty-forthcoming-chinese-action-fueling
- Commodities: [Canola Meal](https://feedsoft.ai/c/CANMEAL.md)

## Why it matters

Possible production shortfall and strong Chinese purchases tighten supply and support canola prices, and canola meal prices may follow.

## Read by commodity

- CANMEAL: bullish ▲

## Sources

- marketsfarm.com: https://marketsfarm.com/ice-canada-weekly-production-uncertainty-forthcoming-chinese-action-fueling-canolas-upswing/

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