# ICE Closing Review: Chicago soyoil pushes front months down - MarketsFarm

> ICE canola futures closed lower in front months on April 16, with May down 1.70 to C$457.70 per tonne. Chicago soyoil declines weighed on values, while a slightly weaker Canadian dollar offered some support. Statistics Canada postponed its planned April 24 crop area report.

- Date: 2020-04-16 · published 2020-04-16T12:00:00.000Z
- Category: market · region Canada · magnitude low
- Page: https://feedsoft.ai/events/53742-ice-closing-review-chicago-soyoil-pushes-front-months-down-marketsfarm
- Commodities: [Canola Meal](https://feedsoft.ai/c/CANMEAL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Lower soyoil and a postponed acreage report leave canola trading on soft oil-complex signals, with fewer expected Canadian canola acres adding some support.

## Read by commodity

- SBO: bearish ▼
- WHEAT: bearish ▼
- CANMEAL: neutral

## Sources

- marketsfarm.com: https://marketsfarm.com/ice-closing-review-chicago-soyoil-pushes-front-months-down/

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