# ICE weekly outlook: Canola nears resistance - Grainews

> ICE November 2020 canola reached its strongest level in three months in early July, hitting an intersession high of C$482 per tonne before settling below C$480. Analysts say resistance is holding, and the market needs continued gains in European rapeseed and CBOT soyoil to push higher.

- Date: 2020-07-09 · published 2020-07-09T12:00:00.000Z
- Category: market · region Canada · magnitude low
- Page: https://feedsoft.ai/events/52229-ice-weekly-outlook-canola-nears-resistance-grainews
- Commodities: [Canola Meal](https://feedsoft.ai/c/CANMEAL.md)

## Why it matters

Canola's direction is tied to vegetable oil markets and weather in western Canada, which could drive yield expectations and meal supply.

## Sources

- grainews.ca: https://www.grainews.ca/daily/ice-weekly-outlook-canola-nears-resistance/

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