WINNIPEG, Manitoba--As the trading of canola futures on the Intercontinental Exchange resumed following Christmas and Boxing Day, they failed to hang to their late session increases on Friday with most contracts closing to the downside.

Pressure on the Canadian oilseed came from losses in Chicago soybeans and soymeal, along with those in European rapeseed.

Gains in Chicago soyoil and Malaysian palm oil helped to limit further decreases. As well, upticks in crude oil underpinned the vegetable oils.

Statistics Canada reported the November canola crush came to 1.02 million tonnes, up more than 12 per cent from a year ago.

StatCan also reported November canola deliveries were 1.45 million tonnes versus 1.64 million the previous November.

Despite the declines in the March canola contract, it held above its 20-day moving average.

There were 32,188 contracts traded on Friday, compared to 30,936 on Tuesday. Spreading accounted for 14,260 contracts traded.

Prices are in Canadian dollars per metric tonne:


 
           Price      Change 
Jan       621.90     up 1.90 
Mar       617.20     dn 2.60 
May       623.50     dn 1.90 
Jul       625.80     dn 2.30 

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


 
Months    Prices                            Volume 
Jan/Mar   7.00 over to 1.00 under            4,499 
Mar/May   4.00 under to 6.60 under           2,631 
 

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


(END) Dow Jones Newswires

12-27-24 1525ET