# ICE Closing Review: A day of increases for canola - MarketsFarm

> ICE canola futures closed higher on June 26, 2024, with double-digit gains in most contracts, as traders cited oversold conditions, Prairie weather and crop conditions. Chicago soyoil, European rapeseed and Malaysian palm oil also rose, while Chicago soybeans and soymeal slipped. Statistics Canada reported a May canola crush of 920,432 tonnes, up from 769,942 a year earlier.

- Date: 2024-06-26 · published 2024-06-26T12:00:00.000Z
- Category: market · region Canada · magnitude low
- Page: https://feedsoft.ai/events/29864-ice-closing-review-a-day-of-increases-for-canola-marketsfarm
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Stronger vegetable oil and rapeseed prices lift the oilseed complex, while a larger crush supports meal supply. Soymeal weakness keeps protein feed prices under pressure for buyers.

## Read by commodity

- SBM: bearish ▼
- SBO: bullish ▲
- SOY: bearish ▼

## Sources

- marketsfarm.com: https://marketsfarm.com/ice-closing-review-a-day-of-increases-for-canola/

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