WINNIPEG, Manitoba--The ICE Futures canola market moved to the downside on Friday to go with comparable oils showing gains and declines.

Chicago soyoil and Malaysian palm oil were lower, while European rapeseed sharply rose and crude oil was also higher.

An analyst said canola is at an all-time record discount compared to European rapeseed, which now has inverted spreads. However, the analyst noted canola is being weighed down by the Chicago soy complex.

The Canadian Grain Commission reported canola exports for the week ended Dec. 8 at 140,200 tonnes, down from 193,400 the previous week. So far this marketing year, 4.029 million tonnes have been exported compared to 2.144 million one year ago.

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

There were 71,714 canola contracts traded on Friday, which compares with Thursday when 89,207 contracts changed hands. Spreading accounted for 44,138 of the contracts traded. Settlement prices are in Canadian dollars per metric tonne. 


 
           Price      Change 
Jan       612.50     dn 6.10 
Mar       624.00     dn 4.50 
May       631.40     dn 4.00 
Jul       634.40     dn 4.00

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


 
Months    Prices                            Volume 
Jan/Mar   8.60 under to 11.90 under         16,099 
Jan/May   15.70 under to 19.30 under           156 
Jan/Jul   18.30 under to 19.80 under            42 
Mar/May   6.50 under to 7.80 under           3,265 
Mar/Jul   9.10 under to 10.70 under            868 
May/Jul   2.20 under to 3.40 under           1,120 
May/Nov   20.90 over to 19.90 over               2 
Jul/Nov   24.40 over to 22.00 over             513 
Nov/Jan   4.70 under                             3 
Jan/Mar   2.50 under                             1

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


(END) Dow Jones Newswires

12-13-24 1517ET