# Canadian canola futures jump - Markets - Business Recorder

> ICE Canadian canola futures jumped to a fresh record high on Monday, driven by short-covering and firm export and domestic crushing demand. The May contract gained C$17.70 to C$753.20 per tonne while the March contract hit a nearby record of C$803.50.

- Date: 2021-02-24 · published 2021-02-24T12:00:00.000Z
- Category: market · region Canada · magnitude low
- Page: https://feedsoft.ai/events/48742-canadian-canola-futures-jump-markets-business-recorder
- Commodities: [Canola Meal](https://feedsoft.ai/c/CANMEAL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Tight old-crop canola supplies and strong crush and export demand support higher canola prices, with soyoil strength adding to the rally and feeding into meal values.

## Read by commodity

- SBO: bullish ▲
- CANMEAL: bullish ▲

## Sources

- brecorder.com: https://www.brecorder.com/news/40067386

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