WINNIPEG, Manitoba -- Intercontinental Exchange (ICE) canola futures were mixed on Friday with gains in the old crop July and new crop November contracts. There were declines in the other new crop positions, coming off of larger losses earlier in the session.

Sharp losses in Chicago soybeans and soyoil weighed on canola values. Gains in Chicago soymeal, European rapeseed and Malaysian palm oil provided support.

Aside from occasional thunderstorms over the weekend, the Prairies are forecast to remain hot and dry well into next week.

The canola market will be positioning ahead of major reports next week. First will be Statistics Canada's acreage report to be released on June 29. The report will answer questions as to whether planted canola acres will be above or below the federal agency's spring estimate of 21.53 million. MarketsFarm has projected an increase to 22.35 million acres.

Then on Wednesday, the U.S. Department of Agriculture is scheduled to issue its acreage and grain stocks reports. Soybean and corn acres to bump up slightly, with a small decrease for wheat.

The Canadian dollar was relatively steady at mid-afternoon. The loonie was at 81.26 U.S. cents compared to Thursday's close of 81.20.

There were 23,730 contracts traded on Friday, which compares with Thursday when 21,486 contracts changed hands. Spreading accounted for 6,978 contracts traded.

Settlement prices are in Canadian dollars per metric ton. 


 
                                              Price                Change 
   Canola                                     Jul 798.90           up 9.80 
                                              Nov 739.50           up 0.90 
                                              Jan 736.00           dn 2.80 
                                              Mar 728.00           dn 4.90

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


 
    Months                      Prices                                     Volume 
 
    Jul/Nov                     88.00 over to 28.00 over                    598 
    Nov/Jan                      3.80 over to 1.40 under                  1,953 
    Nov/Mar                     11.20 over to 4.60 over                      22 
    Nov/Jul                     19.40 over                                    6 
    Jan/Mar                      9.10 over to 5.70 over                     382 
    Jan/May                     18.00 over                                    1 
    Jan/Jul                     20.50 over                                    1 
    Mar/May                     10.70 over to 5.60 over                     320 
    May/Jul                     14.30 over to 8.50 over                     194 
    Jul/Nov                     99.50 over to 83.60 over                     12

Source: Commodity News Service Canada (news@marketsfarm.com)

(END) Dow Jones Newswires

06-25-21 1557ET