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, news@marketsfarm.com


(END) Dow Jones Newswires

09-25-23 1532ET