WINNIPEG, Manitoba--The ICE Futures canola market was weaker on Friday, although off its session lows as values saw some adjustment relative to the Chicago soy complex.

While Chicago soyoil and soybeans were both down sharply on Friday, canola had already posted large losses on Thursday when markets in the U.S. were closed for Thanksgiving.

Losses in European rapeseed and Malaysian palm oil futures, along with a stronger tone in the Canadian dollar, also weighed on canola prices.

Increased export demand at the lows and a lack of significant farmer selling provided underlying support.

There were an estimated 20,139 contracts traded on Friday, which compares with Thursday when 12,540 contracts traded. Spreading accounted for 11,584 of the contracts traded.

Settlement prices are in Canadian dollars per metric ton.


Canola PriceChange

Jan 695.30 dn 1.40

Mar 699.40 dn 1.90

May 703.70 dn 1.50

Jul 706.80 dn 1.40


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


MonthsPricesVolume

Jan/Mar 3.20 under to 4.70 under 4,097 


   Jan/May 6.60 under to 7.90 under    115 
   Jan/Jul 10.40 under to 11.50 under    101

Mar/May 3.00 under to 4.30 under 1,106 


   Mar/Jul 7.00 under to 7.50 under     49 
   May/Jul 2.10 under to 3.40 under    251 
   Jul/Nov 10.00 over to 9.30 over     73

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


(END) Dow Jones Newswires

11-24-23 1549ET