ICE Review : Canola Finishes in With Dip

WINNIPEG, Manitoba--Intercontinental Exchange canola futures closed steady to lower on Friday, unable to hang on to gains in the last minutes of trading.

It was a similar circumstance with MATIF rapeseed which was also steady to lower. Small losses in crude oil applied additional pressure on the vegetable oils.

The declines were tempered by increases in Chicago soybeans and soyoil, along with Malaysian palm oil.

Despite the losses in the January canola contract, it remained above its 20- and 50-day moving averages and less than C$6 behind its 100-day average.

Statistics Canada will release its next production report on Dec. 4 with canola set to exceed the 20.03 million tons estimated in September.

Canola exports continued to suffer from a lack of sales to China. Cumulative exports tallied 1.93 million ton by the week ended Nov. 23, down about 1.76 million ton from a year earlier.

The Canadian dollar swung higher on Friday afternoon with the loonie at 71.56 U.S. cents compared with Thursday's close of 71.26.

There were 34,542 contracts traded on Friday, compared with 20,768 on Thursday. Spreading accounted for 23,942 contracts traded.

Prices are in Canadian dollars per metric ton:

 
     Price   Change 
Jan  650.70  dn 0.90 
Mar  664.00  dn 0.50 
May  674.40  unchanged 
Jul  679.50  unchanged 
  

Spread trade prices are in Canadian dollars and the volume represents the number of spreads:

Months   Prices                       Volume 
Jan/Mar  12.60 under to 13.50 under   7,837 
Jan/May  22.40 under to 23.90 under   383 
Jan/Jul  27.50 under to 28.80 under   26  
Mar/May  9.50 under to 10.50 under    2,523  
Mar/Jul  14.40 under to 15.50 under   116  
May/Jul  4.80 under to 8.80 under     852 
Jul/Nov  15.00 over to 7.10 over      223  
Nov/Jan  5.00 under to 5.20 under     11 
 

Source: Commodity News Service Canada, [e-mail]

(END) Dow Jones Newswires

11-28-25 1533ET