WINNIPEG, Manitoba--The ICE Futures canola market retreated on Friday, pressured by weakness in comparable oils.

Chicago soyoil, European rapeseed and Malaysian palm oil were all lower. Crude oil prices also had modest declines.

The Canadian Grain Commission reported only 101,100 tons of canola exports during the week ended March 17, less than half from the previous week. Cumulative exports for the 2023-24 marketing year total 3.786 million tons, down 33.5% from last year.

At mid-afternoon, the Canadian dollar was down more than four-tenths of a U.S. cent compared to Thursday's close, limiting canola's losses.

There were 37,833 canola contracts traded on Friday, which compares with Thursday when 61,601 contracts changed hands. Spreading accounted for 18,986 of the contracts traded. 


 
Settlement prices are in Canadian dollars per metric ton. 
 
Canola      Price           Change 
 May        634.50          dn 8.40 
 Jul        644.10          dn 8.30 
 Nov        652.20          dn 8.30 
 Jan        659.90          dn 8.40 
 
Spread trade prices are in Canadian dollars and the volume represents the number of spreads: 
 
May/Jul          9.10 under to 10.30 under      6,382 
May/Nov         17.10 under to 18.30 under        145 
May/Mar         28.70 under to 29.80 under         22 
Jul/Nov          7.30 under to 8.40 under       2,636 
Nov/Jan          7.40 under to 7.90 under         216 
Nov/Mar         11.10 under to 12.20 under         14 
Jan/Mar          2.60 under to 4.40 under          60 
Mar/May          2.30 over to 1.90 over            18

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


(END) Dow Jones Newswires

03-22-24 1531ET