WINNIPEG, Manitoba--Intercontinental Exchange canola futures were mostly lower on Friday, with the only increase in the March contract.
Trading in March grain options ended today.
Pressure on canola came from declines in the Chicago soy complex and European rapeseed, while Malaysian palm oil edged higher.
Significant losses in global crude oil prices weighed on oilseed values. Canola crush margins were lower as the old crop positions slipped to C$172 to C$180 per ton above the futures.
The Canadian Grain Commission reported year-to-date producer deliveries of canola were 9.31 million tons as of Feb. 15. Those were down 1.81 million tons from this time last year.
Canola exports continued to lag well behind at 3.29 million tons versus 4.89 million a year ago. Domestic usage remained ahead of last year's pace at 6.05 million tons compared to 5.70 million.
The Canadian dollar was relatively steady at mid-afternoon Friday with the loonie at 74.07 U.S. cents compared to Thursday's close of 74.11.
There were 38,858 contracts traded on Friday, compared to Thursday when 48,782 contracts changed hands. Spreading accounted for 22,816 contracts traded.
Prices are in Canadian dollars per metric ton: Canola Price Change Mar 570.40 dn 3.60 May 581.30 dn 2.80 Jul 589.60 dn 3.80 Nov 596.10 dn 4.00 Spread trade prices are Canadian dollars and the volume represents the number of spreads: Months Prices Volume Mar/May 5.00 under to 11.00 under 4,423 Mar/Jul 17.20 under to 19.20 under 236 Mar/Nov 24.10 under 25 May/Jul 7.90 under to 8.80 under 4,547 May/Nov 14.90 under to 15.30 under 49 Jul/Nov 6.10 under to 7.00 under 2,103 Nov/Jan 4.80 under to 5.30 under 23 Jan/Mar 2.00 under 2
Source: Commodity News Service Canada, news@marketsfarm.com
(END) Dow Jones Newswires
02-23-24 1546ET
