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ICE Canola Hits Four-Month Lows

Grade Bbearish AI signal$CANOLA
ICE canola futures fell to four-month lows Thursday, with January contracts down C$6.50 to C$761.80 per tonne as speculative selling pressured prices. January canola broke below its 200-day moving average near C$766, while weaker Chicago soybeans, soyoil, European rapeseed and Malaysian palm oil added selling pressure. Further weakness could push canola toward its next major technical support around C$750 per tonne.

Bullish strength: 20/100

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

Bearish strength: 80/100

  • ICE canola futures touched four-month lows.
  • January canola fell below its 200-day moving average near C$766.
  • Speculative selling pressured prices as major chart support was tested.
  • Weakness in soybeans, soyoil, 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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