ICE Review: Canola Drops With Soyoil
Bullish strength: 25/100
- Slower farmer selling reduced available selling pressure.
- End-user bargain hunting provided underlying market support.
- Canada secured a two-year extension for Canadian canola meal sales to China.
Bearish strength: 75/100
- Canola futures hit fresh three-month lows.
- January canola fell C$13.50 to C$768.30 per tonne.
- Commodity funds continued liquidating long positions.
- Nearby technical trends were pointing lower.
- Weakness in soyoil, rapeseed, palm oil and crude oil added selling pressure.
This is automated NewsSignals analysis of third-party reporting, not independent original reporting or investment advice. AI scores are not price predictions.