WINNIPEG, Manitoba -- The ICE Futures canola market was lower on Monday, as broad weakness in most outside financial and commodity markets sparked by default concerns at a Chinese real estate company spilled over to weigh on prices.
Chicago Board of Trade soyoil futures fell to their lowest levels in three months, which contributed to the declines in canola.
Seasonal harvest pressure was another bearish influence, although concerns over the size of Canada's drought-stricken crop remained supportive.
Weakness in the Canadian dollar also helped temper the declines in canola.
About 17,426 canola contracts traded on Monday, which compares with Friday when 22,259 contracts changed hands.
Spreading was a feature, accounting for 10,780 of the contracts traded.
Settlement prices are in Canadian dollars per metric ton.
Price Change
Canola Nov 861.10 dn 12.60
Jan 853.80 dn 12.50
Mar 842.90 dn 11.20
May 826.80 dn 10.60
Spread trade prices are in Canadian dollars and the volume represents the number of spreads:
Months Prices Volume Canola
Nov/Jan 8.60 over to 6.30 over 2,167
Nov/Mar 21.40 over to 17.10 over 49
Nov/May 36.40 over to 34.40 over 6
Nov/Jul 59.00 over to 58.00 over 25
Jan/Mar 13.10 over to 9.70 over 1,963
Jan/May 27.70 over to 25.20 over 191
Mar/May 18.90 over to 15.00 over 567
Mar/Jul 35.00 over 25
May/Jul 22.50 over to 19.10 over 365
Jul/Nov 114.30 over to 108.80 over 32
Source: Commodity News Service Canada (news@marketsfarm.com)
(END) Dow Jones Newswires
09-20-21 1610ET
