# ICE weekly outlook: Canola rises, post-report - Grainews

> ICE Futures Canada canola front-month November contract fell C$8.50 to below C$499.50 per tonne after Statistics Canada projected the 2017 crop at 18.2 million tonnes, lower than last year. StatsCan also raised the 2016 crop estimate to 19.6 million tonnes from 18.4 million.

- Date: 2017-08-31 · published 2017-08-31T12:00:00.000Z
- Category: report · region Canada · magnitude medium
- Page: https://feedsoft.ai/events/69553-ice-weekly-outlook-canola-rises-post-report-grainews
- Commodities: [Canola Meal](https://feedsoft.ai/c/CANMEAL.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

Improving Western Canadian weather, a firmer Canadian dollar and palm oil weakness pressured canola, though tight commercial supplies keep the balance sensitive. Lower canola availability supports canola meal values for feed buyers.

## Read by commodity

- CANMEAL: neutral
- PALMOIL: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2017-02-25 | [Crude Palm Oil Weekly Report – 25 February 2017 \| Borneo Post Online](https://feedsoft.ai/events/7061-crude-palm-oil-weekly-report-25-february-2017-borneo-post-online.md) | -3.0% | -4.8% |
| PALMOIL | 2017-03-01 | [Vegetable oil and oilseeds outlook – Canola Digest](https://feedsoft.ai/events/7066-vegetable-oil-and-oilseeds-outlook-canola-digest.md) | -2.9% | -5.0% |
| PALMOIL | 2022-03-24 | [Indonesian palm oil output, exports to hit record high in 2022-23 - Grain Price News](https://feedsoft.ai/events/15835-indonesian-palm-oil-output-exports-to-hit-record-high-in-2022-23-grain-price.md) | -0.9% | -4.0% |
| PALMOIL | 2022-12-09 | [Cocoa, rice, sugar 'to rank among rare commodity gainers in 2023' - Grain Price News](https://feedsoft.ai/events/38307-cocoa-rice-sugar-to-rank-among-rare-commodity-gainers-in-2023-grain-price-news.md) | -1.3% | +4.3% |
| PALMOIL | 2022-07-08 | [China's palm oil imports to avoid 17-year low, with soy imports to exceed forecasts too - Grain Price News](https://feedsoft.ai/events/14914-china-s-palm-oil-imports-to-avoid-17-year-low-with-soy-imports-to-exceed.md) | -8.7% | -9.2% |

## Sources

- grainews.ca: https://www.grainews.ca/daily/ice-weekly-outlook-canola-rises-post-report/

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