WINNIPEG, Manitoba--The ICE Futures canola market continued its slide downwards for the fifth time over the past six sessions, being pressured from vegetable oils.
Chicago soyoil lost more than two United States cents per pound, while European rapeseed was also down. However, Malaysian palm oil was up, bringing support to canola. Crude oil moved lower on Monday, but China's Golden Week, which attracts millions of tourists, is expected to drive up demand.
At mid-afternoon, the Canadian dollar was unchanged compared to Friday's close.
High temperatures in the Prairies will range from the mid-teens to low-20 degrees Celsius later today with the warmest temperatures in Saskatchewan.
About 44,449 canola contracts were traded on Monday, which compares with Friday when 31,262 contracts changed hands.
Spreading accounted for 31,906 of the contracts traded.
Settlement prices are in Canadian dollars per metric tonne.
Price Change Nov 710.90 dn 11.10 Jan 720.70 dn 11.10 Mar 727.50 dn 11.00 May 733.30 dn 11.10
Spread trade prices are in Canadian dollars and the volume represents the number of spreads:
Months Prices Volume Nov/Jan 8.70 under to 10.00 under 6,691 Nov/Mar 14.70 under to 16.70 under 161 Nov/May 20.00 under to 22.60 under 371 Nov/Jul 24.00 under to 26.20 under 106 Nov/Nov 0.00 to 3.00 under 67 Jan/Mar 5.60 under to 7.00 under 5,334 Jan/May 11.20 under to 12.80 under 68 Jan/Jul 16.00 under to 17.00 under 13 Mar/May 5.40 under to 6.20 under 2,213 Mar/Jul 11.00 under 20 May/Jul 3.10 under to 4.90 under 477 Jul/Nov 26.90 over to 24.50 over 432
Source: Commodity News Service Canada, firstname.lastname@example.org
(END) Dow Jones Newswires