# ICE weekly outlook: Overvalued canola market due for correction - AgCanada

> ICE canola futures hit fresh contract highs in early April before profit-taking set in. Analysts see new-crop canola as overvalued relative to oil and meal values and expect a correction of about $100 per tonne.

- Date: 2022-04-06 · published 2022-04-06T12:00:00.000Z
- Category: market · region Canada · magnitude low
- Page: https://feedsoft.ai/events/41793-ice-weekly-outlook-overvalued-canola-market-due-for-correction-agcanada
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Canola Meal](https://feedsoft.ai/c/CANMEAL.md)

## Why it matters

Expected futures correction would lower canola meal and oil prices, though improved Canadian crop prospects and a large US soybean crop add downside pressure.

## Read by commodity

- SBO: bearish ▼
- CANMEAL: bearish ▼

## Sources

- agcanada.com: https://www.agcanada.com/daily/ice-weekly-outlook-overvalued-canola-market-due-for-correction
- grainews.ca: https://www.grainews.ca/daily/ice-weekly-outlook-overvalued-canola-market-due-for-correction/

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