# ICE weekly outlook: Canola chops around waiting for New Year - AgCanada

> ICE Futures Canada canola contracts traded lower in the week ended December 21 as steady demand was offset by large oilseed supplies, with most traders rolling from January into March. Analysts pegged $520 per tonne as major support, with $510 a possible downside level, and expected USDA to raise soybean yields in its January 12 report.

- Date: 2016-12-22 · published 2016-12-22T12:00:00.000Z
- Category: market · region Canada · magnitude low
- Page: https://feedsoft.ai/events/73556-ice-weekly-outlook-canola-chops-around-waiting-for-new-year-agcanada
- Commodities: [Canola Meal](https://feedsoft.ai/c/CANMEAL.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Expectations of a larger US soybean crop and ample Canadian oilseed supplies point to softer canola meal and oil values, while Brazil's record-big crop looms as the next competitive factor.

## Read by commodity

- SOY: bearish ▼
- CANMEAL: bearish ▼

## Sources

- agcanada.com: https://www.agcanada.com/daily/ice-weekly-outlook-canola-chops-around-waiting-for-new-year

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