WINNIPEG, Manitoba--The ICE Futures canola market was stronger Friday, recovering some of Thursday's losses as gains in the Chicago soy complex provided spillover support.
Weakness in the Canadian dollar and gains in European rapeseed were also supportive.
Canola remains attractively priced compared to most other oilseed markets.
Canada exported 203,000 metric tons of canola during the week ended Jan. 12, with crop year-to-date exports of 4.9 million tons running 85% ahead of the year-ago pace, according to Canadian Grain Commission data.
However, the fact canola wasn't included in interim rules on biofuel feedstock guidelines from the U.S. Agriculture Department announced earlier in the week remained a bearish factor overhanging the market.
Lingering uncertainty over possible U.S. tariffs on canola oil imports when Donald Trump takes office on Monday was another bearish influence.
An estimated 55,903 contracts traded on Friday, which compares with Thursday when 85,621 contracts traded.
Spreading accounted for 34,598 of the contracts traded.
Settlement prices are in Canadian dollars per metric ton.
Contracts Prices Change
Mar 616.00 up 9.20 May 625.50 up 9.10 Jul 633.80 up 9.00 Nov 625.60 up 8.80
Spread trade prices are in Canadian dollars and the volume represents the number of spreads:
Contracts Prices Volume Mar/May 8.20 under to 10.00 under 9,484 Mar/Jul 15.30 under to 18.40 under 820 Mar/Nov 5.90 under to 11.20 under 381 May/Jul 6.60 under to 8.50 under 4,320 May/Nov 5.60 over to 1.80 under 145 May/Jan 3.40 under 1 Jul/Nov 13.20 over to 6.00 over 2,124 Nov/Jan 5.20 under to 5.40 under 22 Nov/Mar 6.00 under 1 Jan/Mar 0.60 under 1
Source: MarketsFarm, news@marketsfarm.com
(END) Dow Jones Newswires
01-17-25 1548ET