# ICE canola futures plunge - Markets - Business Recorder

> ICE canola futures plunged on May 13 as profit-taking followed record highs in US grains and oilseeds. July canola fell by the expanded daily limit of $45 to $857.30 a tonne, and November fell $17.80 to $736.90. Dry Canadian conditions continued to support new-crop prices, and Saskatchewan planting was well ahead of normal.

- Date: 2021-05-15 · published 2021-05-15T12:00:00.000Z
- Category: market · region Canada · magnitude low
- Page: https://feedsoft.ai/events/47216-ice-canola-futures-plunge-markets-business-recorder
- Commodities: [Canola Meal](https://feedsoft.ai/c/CANMEAL.md)

## Why it matters

High prices reduced canola demand and triggered fund liquidation, which pushed prices sharply lower. Ahead of the season, the drop can ease input costs for oilseed meal buyers.

## Sources

- brecorder.com: https://www.brecorder.com/news/40092346

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