WINNIPEG, Manitoba--The ICE Futures canola market was steady to lower with mostly negative sentiment in comparable oils.

European rapeseed was positive on Wednesday, but Chicago soyoil was lower and Malaysian palm oil was mixed. Crude oil was also lower.

One analyst said canola's weakness stemmed from selling in the vegetable oil complex. Another said there is currently nothing to suggest a bottom in canola prices would be imminent.

At mid-afternoon, the Canadian dollar was down three-tenths of a U.S. cent compared to Tuesday's close.

There were 36,015 canola contracts traded on Tuesday, which compares with Monday when 55,289 contracts changed hands.

Spreading accounted for 21,428 of the contracts traded.


Settlement prices are in Canadian dollars per metric ton. 


   Contracts  Price    Change 
   Mar        577.20   up 0.10 
   May        591.00   dn 0.10 
   Jul        598.20   dn 0.40 
   Nov        605.00   dn 0.30

Spread trade prices are in Canadian dollars and the volume represents the number of spreads: 


 
   Contracts  Price                       Volume 
   Mar/May     9.00 under to 19.00 under  1,619 
   Mar/Jul    24.20 under                     4 
   May/Jul     6.30 under to 7.70 under   7,415 
   May/Nov    13.50 under to 14.20 under     85 
   May/Jan    18.60 under to 19.20 under      3 
   Jul/Nov     6.30 under to 6.90 under   1,545 
   Nov/Jan     4.40 under to 5.20 under      43

Source: MarketsFarm, news@marketsfarm.com


(END) Dow Jones Newswires

02-28-24 1528ET