WINNIPEG, Manitoba--Intercontinental Exchange canola futures fell back on Monday, due to record production, a lack of exports and declines in comparable oils.

Last week, Statistics Canada estimated the country's canola harvest at 21.80 million tonnes. One analyst suggested StatCan could increase their estimate come summer.

With China absent from the Canadian export market, that huge crop could be very difficult to sell.

Losses in the Chicago soy complex and Malaysian palm oil pulled canola lower. There were small upticks in MATIF rapeseed.

Declines in crude oil weighed on the vegetable oils.

The United States Department of Agriculture is set to release its December supply and demand estimates on Tuesday. Any changes to soybeans could spill over into canola.

The Canadian dollar was a pinch higher on Monday afternoon with the loonie at 72.19 U.S. cents compared to Friday's close of 72.15.

There were 81,740 contracts traded on Monday, compared to 88,468 on Friday. Spreading accounted for 60,212 contracts traded.

Prices are in Canadian dollars per metric tonne: 


 
           Price      Change 
Jan       612.70     dn 4.20 
Mar       626.10     dn 5.00 
May       638.70     dn 5.10 
Jul       647.40     dn 5.00

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


 
Months    Prices                            Volume 
Jan/Mar   12.10 under to 13.80 under        19,768 
Jan/May   24.80 under to 26.40 under           922 
Jan/Jul   33.50 under to 34.90 under           100 
Jan/Nov   33.70 under to 34.40 under             5 
Mar/May   12.40 under to 13.10 under         6,195 
Mar/Jul   20.90 under to 21.90 under            95 
Mar/Nov   20.90 under to 23.20 under            18 
May/Jul   8.20 under to 9.30 under           1,062 
Jul/Nov   3.00 over to 4.20 over             1,936 
Nov/Jan   5.90 under to 5.90 under               5

Source: Commodity News Service Canada, news@marketsfarm.com


(END) Dow Jones Newswires

12-08-25 1514ET