# ICE weekly outlook: Canola runs into headwind - AgCanada

> A Commodity News Service Canada analyst says ICE canola futures face strong chart resistance at C$530-540 per tonne. Large South American crops and expected larger US soybean and Canadian canola acreage are cited as headwinds that limit upside.

- Date: 2017-02-15 · published 2017-02-15T12:00:00.000Z
- Category: market · region Canada · magnitude low
- Page: https://feedsoft.ai/events/72459-ice-weekly-outlook-canola-runs-into-headwind-agcanada
- Commodities: [Canola Meal](https://feedsoft.ai/c/CANMEAL.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Heavy South American soybean supply and expected acreage gains weigh on oilseed complex prices, pointing to limited near-term upside for canola meal and soy products.

## Read by commodity

- SOY: bearish ▼
- CANMEAL: bearish ▼

## Sources

- agcanada.com: https://www.agcanada.com/daily/ice-weekly-outlook-canola-runs-into-headwind

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