# Canola market’s lower end tested - Manitoba Co-operator

> The ICE canola market tested the lower end of its trading range in late January, with the nearby March contract dipping to $791 per tonne before recovering above $800. Argentina received rain easing drought concerns, while Brazil's soybean crop is expected to be record-large.

- Date: 2023-02-02 · published 2023-02-02T12:00:00.000Z
- Category: market · region Canada · magnitude low
- Page: https://feedsoft.ai/events/37284-canola-market-s-lower-end-tested-manitoba-co-operator
- Commodities: [Canola Meal](https://feedsoft.ai/c/CANMEAL.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Concerns about South American crops and speculative net-short positioning shape canola price direction, and a record Brazilian soybean crop points to ample meal supply.

## Read by commodity

- SBM: bearish ▼
- CANMEAL: neutral

## Sources

- manitobacooperator.ca: https://www.manitobacooperator.ca/news-opinion/news/canola-markets-lower-end-tested/

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