# ICE weekly outlook: New lows in, but canola stabilizing - Grainews

> ICE May canola fell to a contract low of C$455 per tonne on Tuesday and settled at C$456.50, down from around C$490 at the start of 2020. Analysts said the market may stabilize after oversold conditions, while vegetable oil markets have trended lower for two months amid coronavirus risk-off sentiment and rail blockades.

- Date: 2020-02-27 · published 2020-02-27T12:00:00.000Z
- Category: market · region Canada · magnitude low
- Page: https://feedsoft.ai/events/54700-ice-weekly-outlook-new-lows-in-but-canola-stabilizing-grainews
- Commodities: [Canola Meal](https://feedsoft.ai/c/CANMEAL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Weaker canola and vegetable oil prices reflect demand worries from the virus and transport disruption in Canada, pointing to softer canola meal and oil values for feed buyers, with limited rally prospects until China buying clarifies.

## Read by commodity

- SBO: bearish ▼
- CANMEAL: bearish ▼

## Sources

- grainews.ca: https://www.grainews.ca/daily/ice-weekly-outlook-new-lows-in-but-canola-stabilizing/

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