# ICE weekly outlook: Canola remains expensive - AgCanada

> Canola futures remain expensive as traders expect a much smaller Canadian crop than the 20 million tonnes first forecast, with estimates of 13 to 17 million tonnes. Anecdotal reports of yields as low as 5 to 6 bushels per acre compare with USDA's 32.85 bu/ac assumption. Statistics Canada's survey report is due 30 August.

- Date: 2021-08-18 · published 2021-08-18T12:00:00.000Z
- Category: market · region Canada · magnitude medium
- Page: https://feedsoft.ai/events/45545-ice-weekly-outlook-canola-remains-expensive-agcanada
- Commodities: [Canola Meal](https://feedsoft.ai/c/CANMEAL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Tight canola supply and price rationing keep canola above other edible oils, supporting canola meal and oil prices. The upcoming StatCan report could move prices sharply if it confirms a smaller crop.

## Read by commodity

- SBO: bullish ▲
- CANMEAL: bullish ▲

## Sources

- agcanada.com: https://www.agcanada.com/daily/ice-weekly-outlook-canola-remains-expensive

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