# Canada: canola futures take unprecedented plunge 24.06.2022 - UkrAgroConsult

> November canola futures fell about C$200 per tonne in ten days, a drop the adviser Ken Ball called unprecedented in speed. Good Prairie crop conditions, liquidation of long positions across commodities, rising rates and war-related unease drove the decline.

- Date: 2022-06-24 · published 2022-06-24T12:00:00.000Z
- Category: market · region Canada · magnitude medium
- Page: https://feedsoft.ai/events/41046-canada-canola-futures-take-unprecedented-plunge-24-06-2022-ukragroconsult
- Commodities: [Canola Meal](https://feedsoft.ai/c/CANMEAL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

The steep selloff has made canola cheap relative to crush margins, which may draw commercial buying and limit further downside. Lower canola values reduce input costs for canola meal used in feed rations.

## Read by commodity

- SBO: bearish ▼
- CANMEAL: bearish ▼

## Sources

- ukragroconsult.com: https://ukragroconsult.com/en/news/canada-canola-futures-take-unprecedented-plunge/

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