# ICE weekly outlook: Soyoil, not weather, main influence on canola | Farmtario

> Canadian canola prices have risen mainly because soyoil gains are pulling them up, not because of weather, according to a PI Financial trader. Canola remains expensive relative to soybeans, and the threat of a very large US soybean crop is weighing on the complex. The Canadian dollar firmed on NAFTA renegotiation optimism.

- Date: 2018-10-04 · published 2018-10-04T12:00:00.000Z
- Category: market · region Canada · magnitude low
- Page: https://feedsoft.ai/events/62633-ice-weekly-outlook-soyoil-not-weather-main-influence-on-canola-farmtario
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Canola Meal](https://feedsoft.ai/c/CANMEAL.md)

## Why it matters

Canola's price tracks soyoil closely, so soyoil moves transmit to canola meal values, while a large expected US soybean crop caps upside for the oilseed complex.

## Read by commodity

- SBO: bullish ▲
- SOY: bearish ▼
- USDCAD: neutral
- CANMEAL: neutral

## Sources

- farmtario.com: https://farmtario.com/daily/ice-weekly-outlook-soyoil-not-weather-main-influence-on-canola/

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