WINNIPEG, Manitoba--The ICE Futures canola market was weaker on Friday, retreating from early gains as losses in the Chicago soy complex weighed on values.
* Updated biofuel targets from the United States government were generally seen as supportive for vegetable oil demand, but the new regulations were expected and profit-taking ahead of the weekend saw Chicago soyoil and soybeans turn lower, with that selling spilling into the canola market.
* The May canola contract fell below support at its 20-day moving average, encouraging additional selling pressure.
* Ongoing uncertainty over the war in the Middle East continued to keep some caution in the world energy markets, with the bias higher in crude oil for the time being. * The Canadian dollar was softer on the day, dipping below 72 U.S. cents.
* There were 64,983 contracts traded on Friday, which compares with Thursday when 57,700 contracts changed hands. Spreading accounted for 46,150 of the contracts traded.
Settlement prices in Canadian dollars per metric tonne.
Canola Price Change May 720.50 dn 8.90 Jul 733.30 dn 9.10 Nov 727.90 dn 8.90 Jan 734.50 dn 8.40
Spread trade prices are in Canadian dollars and the volume represents the number of spreads:
Months Prices Volume May/Jul 12.00 under to 13.10 under 10,687 May/Nov 5.50 under to 8.50 under 281 Jul/Nov 6.80 over to 4.30 over 7,525 Jul/Jan 0.90 under to 2.60 under 178 Nov/Jan 5.60 under to 7.40 under 3,279 Nov/Mar 9.80 under to 12.30 under 100 Jan/Mar 4.00 under to 5.70 under 776 Mar/May 0.50 under to 1.90 under 179 Mar/Jul 0.50 under to 1.00 under 15 May/Jul 0.50 over to 0.40 under 29 Jul/Nov 36.10 over to 34.80 over 26
Source: Commodity News Service Canada, news@marketsfarm.com
(END) Dow Jones Newswires
03-27-26 1641ET
