# ICE weekly outlook: More downside likely for canola - Manitoba Co-operator

> ICE Futures Canada November canola fell below 500 dollars per tonne after a sharp weekly drop tied to US-China trade tensions and a selloff in CBOT soybeans. Speculators are selling, and an analyst expects further downside because canola still looks expensive relative to soybeans. Most of the Canadian canola crop is reported to be in good condition.

- Date: 2018-07-11 · published 2018-07-11T12:00:00.000Z
- Category: market · region Canada · magnitude low
- Page: https://feedsoft.ai/events/64039-ice-weekly-outlook-more-downside-likely-for-canola-manitoba-co-operator
- Commodities: [Canola Meal](https://feedsoft.ai/c/CANMEAL.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Canola trades at a premium to a falling soybean market, so the spread points to further price weakness unless commercial demand steps in. Speculative selling adds near-term pressure on canola meal and seed.

## Read by commodity

- SOY: bearish ▼
- CANMEAL: bearish ▼

## Sources

- manitobacooperator.ca: https://www.manitobacooperator.ca/daily/ice-weekly-outlook-more-downside-likely-for-canola/

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