# ICE weekly outlook: Sideways canola seeks spark - Grainews

> ICE canola futures have been trading in a sideways range, with analysts pegging support near C$485-490 per tonne in the nearby March contract. Argentina weather concerns have supported CBOT soybeans and soymeal, with some spillover into canola.

- Date: 2018-01-31 · published 2018-01-31T12:00:00.000Z
- Category: market · region Canada · magnitude low
- Page: https://feedsoft.ai/events/66961-ice-weekly-outlook-sideways-canola-seeks-spark-grainews
- Commodities: [Canola Meal](https://feedsoft.ai/c/CANMEAL.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Argentine supply worries lift soymeal, which tends to pull canola meal and oil prices in the same direction. Canola is holding in a range with no clear breakout signal.

## Read by commodity

- SBM: bullish ▲
- SBO: neutral
- SOY: bullish ▲
- CANMEAL: neutral

## Sources

- grainews.ca: https://www.grainews.ca/daily/ice-weekly-outlook-sideways-canola-seeks-spark/

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