# ICE canola futures break $1,000 barrier - Markets - Business Recorder

> ICE nearby canola futures broke $1,000 a tonne for the first time on May 7 as short positions were squeezed. Statistics Canada put March 31 crop stocks at 6.6 million tonnes, slightly below trade expectations and down from 10.6 million a year earlier. Corn and soybeans also hit multi-year highs.

- Date: 2021-05-08 · published 2021-05-08T12:00:00.000Z
- Category: report · region Canada · magnitude medium
- Page: https://feedsoft.ai/events/47215-ice-canola-futures-break-1-000-barrier-markets-business-recorder
- Commodities: [Canola Meal](https://feedsoft.ai/c/CANMEAL.md)

## Why it matters

Canadian canola stocks at multi-year lows tighten the export and crush supply chain, which supports oilseed meal and feed prices. Expectations of further gains were a factor in the rally.

## Sources

- brecorder.com: https://www.brecorder.com/news/40091380

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