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ICE Canola Hits Four-Month Lows

Grade Bbearish AI signal$CANOLA
ICE canola futures touched four-month lows on Thursday as speculative selling and weakness across global vegetable oil markets pressured prices. January canola fell C$6.50 to C$761.80 per tonne, breaking below its 200-day moving average near C$766, with next major support around C$750. Continued weakness in soybeans, soyoil, European rapeseed and Malaysian palm oil could intensify downside pressure on canola unless stronger crude oil provides additional support.

Bullish strength: 20/100

  • Crude oil strength provided some support to global vegetable oil markets.
  • January canola recovered from its session low of C$758.60.

Bearish strength: 80/100

  • Canola futures touched four-month lows.
  • January canola declined C$6.50 to C$761.80 per tonne.
  • January contract broke below its 200-day moving average near C$766.
  • Speculative selling pressured prices as major chart support was tested.
  • Weakness in Chicago soyoil, soybeans, European rapeseed and Malaysian palm oil added selling pressure.
  • Next major technical support is around C$750 per tonne.

This is automated NewsSignals analysis of third-party reporting, not independent original reporting or investment advice. AI scores are not price predictions.

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