# Canola Futures Hits Record High Price | Red River Farm Network

> ICE November canola futures set a record high of C$550.30 per metric ton on October 21. Traders attributed the rally to spread unwinding and rumors of a poor Russian sunflower crop with possible export quotas on sunflower oil and seed.

- Date: 2020-10-23 · published 2020-10-23T12:00:00.000Z
- Category: market · region Canada · magnitude medium
- Page: https://feedsoft.ai/events/50620-canola-futures-hits-record-high-price-red-river-farm-network
- Commodities: [Canola Meal](https://feedsoft.ai/c/CANMEAL.md), [Sunflower Meal](https://feedsoft.ai/c/SUNMEAL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Possible Russian sunflower shortfall and export quotas would tighten global vegetable oil and meal supply, supporting sunflower meal and canola meal prices.

## Read by commodity

- SBO: bullish ▲
- CANMEAL: bullish ▲
- SUNMEAL: bullish ▲

## Sources

- rrfn.com: https://www.rrfn.com/2020/10/23/canola-futures-hits-record-high-price/

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