WINNIPEG, Manitoba -- The ICE Futures canola market was lower at Friday's close as an attempt at extending Thursday's recovery failed to gain traction.
Losses in outside markets, including Chicago soyoil and European rapeseed futures, accounted for some spillover selling pressure in the Canadian oilseed.
However, while canola failed to hold onto intersession gains, the market was also well off its lows for the day. Solid export demand and wide crush margins kept end users in the market, with ideas values were looking oversold also providing some support.
About 31,827 canola contracts traded on Friday, which compares with Thursday when 41,669 contracts changed hands.
Spreading accounted for 20,188 of the contracts traded.
Canola settlement prices are in Canadian dollars per metric ton.
Prices Change May 751.60 dn 4.20 Jul 745.10 dn 7.00 Nov 726.70 dn 8.00 Jan 731.00 dn 8.10
Spread trade prices are in Canadian dollars and the volume represents the number of spreads:
Months Spread Volume May/Jul 6.90 over to 3.20 over 6,747 May/No 25.30 over to 21.00 over 55 May/Mar 13.60 over 3 Jul/No 20.00 over to 16.20 over 3,104 Nov/Jan 4.00 under to 4.70 under 145 Nov/Mar 7.90 under to 8.40 under 6 Jan/Mar 3.80 under to 4.40 under 34
Source: Commodity News Service Canada, email@example.com
(END) Dow Jones Newswires