# November Canola Turns Higher

> November ICE canola closed up $25.30 to $716.60 a tonne on May 27, its first gain in eight sessions. Buying followed gains in soybeans, European rapeseed and concerns over a frost event, and the analyst noted technical support at $694.50.

- Date: 2021-05-27 · published 2021-05-27T12:00:00.000Z
- Category: market · region Canada · magnitude low
- Page: https://feedsoft.ai/events/47212-november-canola-turns-higher
- Commodities: [Canola Meal](https://feedsoft.ai/c/CANMEAL.md)

## Why it matters

Frost concerns and tight canola fundamentals support new-crop prices. The inverted spread still encourages nearby delivery and discourages storage.

## Sources

- dtnpf.com: https://www.dtnpf.com/agriculture/web/Ag/blogs/canada-markets/blog-post/2021/05/27/november-canola-turns-higher

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