# ICE Morning Commentary : ICE Canola Extends Its Downturn

> ICE canola futures extended losses overnight, with the January contract down about C$10.60 per tonne to C$771.20. Crude oil fell more than US$2 per barrel on diplomatic efforts to end the U.S.-Iran war, and December Chicago soyoil dropped to its lowest since late June.

- Date: 2026-11-04 · published 2026-11-04T18:06:58.611Z
- Category: market · region Canada · magnitude low
- Page: https://feedsoft.ai/events/80040-ice-morning-commentary-ice-canola-extends-its-downturn
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Weaker crude removes support for vegetable oils through biofuel economics, pulling soyoil and canola lower and pressuring the value of oilseed crush co-products.

## Read by commodity

- SBO: bearish ▼
- WTI: bearish ▼

## Sources

- au.marketscreener.com: https://au.marketscreener.com/news/ice-morning-commentary-ice-canola-extends-its-downturn-ce785fdfdd8df024

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