# North American Grain and Oilseed Review: Losses in crude oil fuel declines in canola - IKAR in Mass Media | IKAR.ru

> ICE canola futures fell on May 25 as weaker crude oil pressured vegetable oils, with the July contract down C$11.90 to C$686.20 per tonne and November down to C$655. Chicago soybeans and soymeal also declined, while palm oil and European rapeseed rose on the day. Speculative fund positioning was cited as distorting crush spreads.

- Date: 2023-05-30 · published 2023-05-30T12:00:00.000Z
- Category: market · region Canada · magnitude low
- Page: https://feedsoft.ai/events/36056-north-american-grain-and-oilseed-review-losses-in-crude-oil-fuel-declines-in
- Commodities: [Canola Meal](https://feedsoft.ai/c/CANMEAL.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Lower crude and weaker soymeal and canola prices reduce the cost of oilseed meal feed ingredients, though volatile crush spreads add uncertainty.

## Read by commodity

- SBM: bearish ▼
- WTI: bearish ▼
- CANMEAL: bearish ▼

## Sources

- ikar.ru: https://www.ikar.ru/1/en/press/3539/

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