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ICE canola futures posted solid declines, testing lows last seen in August after crude oil retreated despite an overnight rise following a US strike on Iran's Qeshm Island. Chicago soyoil fell to its lowest level since late June, while European rapeseed and Malaysian palm oil turned sharply lower.
An analyst said January canola could test a July low near C$760 per tonne if vegetable oils keep weakening.
Lower crude oil weakens the biofuel link that supports vegetable oils, and softer soyoil and palm oil reduce oil-based feed economics. Canola meal values are pressured as oilseed complex prices fall.
sa.marketscreener.comDow JonesNov 3, 2026Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
