WINNIPEG, Manitoba--Intercontinental Exchange (ICE) canola futures remained lower on Monday, but away from double-digit declines earlier in the session.

Pressure came from significant declines in the Chicago soy complex, as well as European rapeseed. Malaysian palm was down in its front month, but had small gains for the rest of its positions.

Concerns over continuing dryness in South American helped to drive down edible oils. A downturn in global crude oil prices also weighed on values.

Price rationing caused by tight supplies underpinned canola.

At mid-afternoon the Canadian dollar was slightly lower with the loonie at 78.85 U.S. cents, compared to Friday's close of 78.95.

There were 13,717 contracts traded on Monday, which compares with Friday when 20,913 contracts changed hands.

Spreading accounted for 3,878 contracts traded.

Settlement prices are in Canadian dollars per metric tonne. 


 
             Price       Change

Canola 


   Mar       1,030.60    dn 4.50 
   May       1,006.90    dn 6.40 
   Jul       956.40      dn 6.30 
   Nov       788.40      dn 8.70

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


 
   Months                Prices                Volume 
   Mar/May       24.70 over to 20.40 over       1,160 
   Mar/Jul       75.00 over to 71.30 over         193 
   Mar/Nov       238.30 over to 236.90 over         2 
   May/Jul       51.70 over to 48.60 over         386 
   May/Nov       221.50 over to 213.20 over        33 
   Jul/Nov       169.40 over to 161.90 over       165

Source: Commodity News Service Canada

Write to Glen Hallick at news@marketsfarm.com

(END) Dow Jones Newswires

01-10-22 1533ET