WINNIPEG, Manitoba--Intercontinental Exchange canola futures cannot hold on to their earlier gains on Friday, as profit-taking weighs on values.

More pressure came from the weekend weather forecast showing much of the Prairies getting rain, ending the recent hot, dry spell.

There were also declines in crude oil and European rapeseed with Malaysian palm oil narrowly mixed. Chicago soybeans and soymeal were also to the downside, but soyoil had sharp increases.

Despite the pullback in canola, the July contract held above its major moving averages.

The Canadian Grain Commission reported for the week ended May 24 that canola exports were 139,200 tonnes, down nearly 44 per cent from the previous week. Domestic use was down almost 19 per cent at 228,100 tonnes.

The Canadian dollar was a little bit higher on Friday afternoon, with the loonie at 72.50 U.S. cents, compared to Thursday's close of 72.42.

There were 83,071 canola contracts traded on Friday, compared to 65,684 on Thursday. Spreading accounted for 48,094 contracts traded.

Prices are in Canadian dollars per metric tonne: 


Canola 
    Price  Change 
Jul 767.30 up 10.60 
Nov 778.70 up 11.00 
Jan 786.10 up 10.60 
Mar 791.40 up 10.40

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


 
Months  Prices                     Volume 
Jul/Nov 10.00 under to 12.40 under 16,375 
Jul/Jan 17.70 under to 20.00 under 332 
Jul/Mar 24.60 under to 25.60 under 1 
Jul/Mar 30.00 over to 26.00 over   1 
Nov/Jan 7.10 under to 8.10 under   4,791 
Nov/Mar 12.00 under to 13.80 under 81 
Nov/May 13.20 under to 15.60 under 3 
Nov/Jul 12.60 under to 13.40 under 7 
Jan/Mar 4.70 under to 6.00 under   1,663 
Mar/May 0.60 under to 2.00 under   399 
May/Jul 2.80 over to 1.90 over     251 
Jul/Nov 53.40 over to 47.00 over   135 
Nov/Jan 1.60 under                 7 
Jan/Mar 1.30 over to 0.20 under    1

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


(END) Dow Jones Newswires

05-29-26 1538ET