# North American Grain and Oilseed Review: Higher crude reignites canola’s rise 18.03.2022 - UkrAgroConsult

> ICE canola futures closed higher on March 17 with double-digit gains in old-crop months, following a spike in global crude oil prices that lifted edible oils. Chicago soybeans and soyoil also advanced, while Malaysian palm oil and Chicago soymeal fell. Canadian Pacific Rail was threatening a lockout that Sunday.

- Date: 2022-03-18 · published 2022-03-18T12:00:00.000Z
- Category: market · region Canada · magnitude low
- Page: https://feedsoft.ai/events/42387-north-american-grain-and-oilseed-review-higher-crude-reignites-canola-s-rise-18
- Commodities: [Canola Meal](https://feedsoft.ai/c/CANMEAL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

Crude-driven strength in vegetable oils supports oilseed values, while the looming rail lockout threatens canola and grain movement, tightening nearby supplies.

## Read by commodity

- SBM: bearish ▼
- SBO: bullish ▲
- SOY: bullish ▲
- CANMEAL: bullish ▲
- PALMOIL: bearish ▼

## Sources

- ukragroconsult.com: https://ukragroconsult.com/en/news/north-american-grain-and-oilseed-review-higher-crude-reignites-canolas-rise/

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