WINNIPEG, Manitoba--Canola futures on the Intercontinental Exchange erased earlier losses and gained strength with rising crude oil ahead of the long holiday weekend.
President Donald Trump left China on Friday after a two-day visit with Chinese President Xi Jinping with no progress made toward reopening the Strait of Hormuz. Crude- oil prices were higher as a result.
An analyst said losses in the Chicago soy complex and speculative funds exiting canola put pressure on the oilseed.
However, a weaker Canadian dollar and delayed seedings across the Prairies provided support.
Chicago soyoil, European rapeseed and Malaysian palm oil were higher.
The Canadian Grain Commission reported 161,400 metric tons of canola were exported during the week ended May 10, less than the 315,600 tons the previous week. So far this marketing year, 6.7 million tons were exported, compared to 8.0 million one year ago.
The Canadian dollar lost one-tenth of a U.S. cent compared to Thursday's close.
There were 52,516 canola contracts traded on Friday compared to Thursday when 59,460 contracts changed hands. Spreads accounted for 24,906 contracts in today's trade.
There will be no canola trading on Monday because of Victoria Day.
Settlement prices are in Canadian dollars per metric ton.
Contracts Prices Change Jul 738.10 up 2.10 Nov 749.10 up 1.50 Jan 757.30 up 1.90 Mar 763.70 up 2.30
Spread trade prices are in Canadian dollars:
Contracts Prices Volume Jul/Nov 10.70 under to 12.00 under 9,016 Jul/Jan 18.70 under to 19.80 under 176 Nov/Jan 7.70 under to 8.40 under 2,736 Nov/Mar 14.10 under to 14.60 under 20 Nov/May 16.50 under to 17.40 under 4 Nov/Jul 17.50 under to 17.80 under 1 Jan/Mar 5.90 under to 6.70 under 434 Mar/May 2.40 under to 2.90 under 34 May/Jul 0.40 under to 0.50 under 21 Jul/Nov 54.20 over to 53.00 over 11
Source: MarketsFarm, news@marketsfarm.com
(END) Dow Jones Newswires
05-15-26 1520ET
