# Canola’s bad day at the markets - Manitoba Co-operator

> Canola fell sharply on Oct. 19, with November down $19.50/t to $692.20 and January down $13.50/t to $705.20, its largest one-day drop in over a month. Analysts blamed fund manipulation or a follow-the-leader move as Chicago soyoil, European rapeseed and palm oil also weakened.

- Date: 2023-10-26 · published 2023-10-26T12:00:00.000Z
- Category: market · region Canada · magnitude low
- Page: https://feedsoft.ai/events/33739-canola-s-bad-day-at-the-markets-manitoba-co-operator
- Commodities: [Canola Meal](https://feedsoft.ai/c/CANMEAL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

The selloff reflected vegetable oil weakness and speculative positioning, and analysts viewed it as an aberration, though very high crush margins should keep canola meal supply and demand firm.

## Read by commodity

- SBO: bearish ▼
- CANMEAL: bearish ▼
- PALMOIL: bearish ▼

## Sources

- manitobacooperator.ca: https://www.manitobacooperator.ca/news-opinion/news/canolas-bad-day-at-the-markets/

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