WINNIPEG, Manitoba--Intercontinental Exchange canola futures were weaker as they fell back with losses in comparable oils.
Pressure on canola Thursday came from steep declines in Chicago soyoil, along with more modest losses in soybeans and European rapeseed.
Some support came from gains in soymeal. Lower global crude-oil prices also weighed on oilseed values.
With the Malaysian palm oil market closed for a holiday, an analyst said that added to losses in canola.
The U.S. Agriculture Department issued its world oilseed production 2023-24 estimate for Canadian canola at 18.8 million metric tons.
The Canadian dollar was slightly lower at 73.08 U.S. cents compared to Wednesday's close of 73.15.
An estimated 70,115 contracts traded on Thursday, compared to Wednesday when 56,952 contracts changed hands. Spreading accounted for 50,204 contracts traded.
Prices are in Canadian dollars per metric ton:
Contracts Price Change May 624.30 dn 14.50 Jul 635.70 dn 13.40 Nov 645.30 dn 13.40 Jan 651.90 dn 13.40
Spread trade prices are Canadian dollars and the volume represents the number of spreads:
Months Prices Volume
May/Jul 10.20 under to 11.90 under 18,727
May/Nov 20.20 under to 21.60 under 510 May/Jan 27.30 under to 28.20 under 245 Jul/Nov 9.50 under to 10.00 under 4,988 Jul/Jan 16.40 under 2 Nov/Jan 6.30 under to 6.80 under 619 Jan/Mar 2.40 under to 2.60 under 11
Source: MarketsFarm, news@marketsfarm.com
(END) Dow Jones Newswires
04-11-24 1541ET
