# ICE canola futures fall from record highs on profit-taking By Reuters

> ICE canola futures fell on Wednesday as long investors took profits after prices hit record highs. The most-active May contract dropped $10.60 to C$765.20 per tonne after the March contract touched a record nearby high of C$852.10 earlier in the session.

- Date: 2021-02-24 · published 2021-02-24T12:00:00.000Z
- Category: market · region Canada · magnitude low
- Page: https://feedsoft.ai/events/48741-ice-canola-futures-fall-from-record-highs-on-profit-taking-by-reuters
- Commodities: [Canola Meal](https://feedsoft.ai/c/CANMEAL.md)

## Why it matters

Thin open interest and high prices are choking demand and encouraging farmers to plant more canola this spring, which could cap upside in canola and support a supply rebound later in the year.

## Read by commodity

- CANMEAL: neutral

## Sources

- ca.investing.com: https://ca.investing.com/news/commodities-news/ice-canola-futures-fall-from-record-highs-on-profittaking-2368284

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