# ICE weekly outlook: Canola still finding support - Grainews

> ICE canola futures swung widely over the week ended Wednesday, dropping more than $50 per tonne from contract highs in the nearby May contract before recovering to near those levels. Analysts cite tight canola supplies, strong vegetable oil markets and firm Western Canada basis as support.

- Date: 2021-03-25 · published 2021-03-25T12:00:00.000Z
- Category: market · region Canada · magnitude low
- Page: https://feedsoft.ai/events/48215-ice-weekly-outlook-canola-still-finding-support-grainews
- Commodities: [Canola Meal](https://feedsoft.ai/c/CANMEAL.md)

## Why it matters

Tight old-crop supplies and crusher demand for canola keep prices supported, while the USDA acreage report on March 31 could shift new-crop expectations and prices.

## Read by commodity

- CANMEAL: bullish ▲

## Sources

- grainews.ca: https://www.grainews.ca/daily/ice-weekly-outlook-canola-still-finding-support/

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