# ICE weekly outlook: Don’t bank on canola prices jumping higher - Grainews

> Analyst Wayne Palmer said canola prices are likely to erode further as Prairie crop conditions are good, after a sharp sell-off caught farmers off guard. August soyoil closed at 59 cents per pound and November canola near C$830 per tonne.

- Date: 2022-07-14 · published 2022-07-14T12:00:00.000Z
- Category: market · region Canada · magnitude low
- Page: https://feedsoft.ai/events/40450-ice-weekly-outlook-don-t-bank-on-canola-prices-jumping-higher-grainews
- Commodities: [Canola Meal](https://feedsoft.ai/c/CANMEAL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Benign weather and weaker soyoil point to lower canola and oilseed meal values, with export demand from China the key uncertainty.

## Read by commodity

- SBO: bearish ▼
- CANMEAL: bearish ▼

## Sources

- grainews.ca: https://www.grainews.ca/daily/ice-weekly-outlook-dont-bank-on-canola-prices-jumping-higher/

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