WINNIPEG, Manitoba--Intercontinental Exchange canola futures closed lower on Friday, pulled down by significant losses in the Chicago soy complex and European rapeseed.

However, upticks in Malaysian palm oil tried to temper further declines. Modest increases in crude oil spilled over into the vegetable oils.

An analyst suggested the funds were likely attempting to buy out their positions. He added that canola was trying to remain range bound.

The March canola contract finished above its 20-day and 100-day moving averages, as it approached its 50-day average.

The Canadian Grain Commission reported for the week ended Dec. 29 that producer deliveries of canola slipped from the previous week to 187,900 tonnes. Canola exports were lower at 138,400 tonnes, while domestic use nudged up to 203,100 tonnes.

The Canadian dollar stepped back Friday afternoon, with the loonie at 69.21 U.S. cents compared to Thursday's close of 69.36.

There were 32,412 contracts traded on Friday, compared to 27,146 on Thursday. Spreading accounted for 16,110 contracts traded.

Prices are in Canadian dollars per metric tonne:


 
           Price      Change 
Mar       624.00     dn 1.00 
May       628.70     dn 3.80 
Jul       631.10     dn 3.70 
Nov       607.80     dn 3.60 

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


 
Months    Prices                            Volume 
Jan/Mar   10.00 over                            25 
Mar/May   4.50 under to 7.90 under           5,175 
Mar/Jul   7.10 under to 11.50 under            237 
Mar/Nov   15.00 over to 11.40 over             109 
May/Jul   2.10 under to 3.70 under           1,897 
May/Nov   21.20 over to 19.00 over              44 
Jul/Nov   23.60 over to 22.50 over             568 
 

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


(END) Dow Jones Newswires

01-03-25 1520ET