WINNIPEG, Manitoba--The ICE Futures canola market continued to show weakness, along with soybeans.

The U.S. Agriculture Department released its monthly World Agricultural Supply/Demand Estimates earlier Thursday. The report prompted a bearish reaction on the Chicago Board of Trade, including a sharp drop in soybean prices which spilled over into canola.

Soymeal, European rapeseed and Malaysian palm oil were also mostly lower.

Gains in Chicago soyoil provided some support.

At midafternoon, the Canadian dollar was steady compared to Wednesday's close.

There were 26,679 canola contracts traded on Thursday, which compares with Wednesday when 34,458 contracts changed hands. Spreading accounted for 12,224 of the contracts traded.


Settlement prices are in Canadian dollars per metric ton. 


 
   Contracts  Price   Change 
   Jan        687.10  dn 12.20 
   Mar        696.00  dn 11.00 
   May        702.20  dn 10.60 
   Jul        707.00  dn 10.50

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


 
   Contracts   Prices                    Volume 
   Jan/Mar      7.30 under to 9.00 under 3,341 
   Jan/May     13.60 under to 15.00 under  107 
   Jan/Jul     18.40 under to 20.20 under  569 
   Jan/Nov      8.30 under to 8.50 under     3 
   Mar/May      5.70 under to 6.50 under   978 
   Mar/Jul     10.70 under to 11.30 under  139 
   May/Jul      4.50 under to 5.20 under   680 
   May/Nov      5.50 over to 5.40 over       8 
   Jul/Nov     12.40 over to 10.10 over    268

Source: MarketsFarm, news@marketsfarm.com


(END) Dow Jones Newswires

11-09-23 1608ET