# January Canola Breaks Below Support

> January ICE canola closed C$4.50 lower at C$452.10 per tonne on Monday, Dec. 2, breaking below support near C$456.80. The move came with high volume and weakness across global oilseed and vegetable oil markets, and noncommercial traders were paring bearish net-short positions.

- Date: 2019-12-02 · published 2019-12-02T12:00:00.000Z
- Category: market · region Canada · magnitude low
- Page: https://feedsoft.ai/events/55676-january-canola-breaks-below-support
- Commodities: [Canola Meal](https://feedsoft.ai/c/CANMEAL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Technical breakdown and weakening spreads point to softer canola values amid weak global oilseed sentiment, which lowers the cost of canola meal inputs for feed buyers.

## Read by commodity

- SBO: bearish ▼
- CANMEAL: bearish ▼

## Sources

- dtnpf.com: https://www.dtnpf.com/agriculture/web/ag/blogs/canada-markets/blog-post/2019/12/02/january-canola-breaks-support

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