WINNIPEG, Manitoba--The ICE Futures canola market was stronger as spillover from gains in outside markets provided support.

Chicago soyoil, Malaysian palm oil and European rapeseed futures were all higher on Friday, with speculative positioning ahead of the weekend a feature.

Canadian markets will be closed Monday for Victoria Day.

The new-crop November contract moved back above its 200-day moving average, which was supportive from a technical standpoint.

Concerns over seeding delays across the Prairies after recent rain helped underpin the futures, despite ideas the moisture will be good for production in the long run.

Weekly Canadian canola exports of 322,800 metric tons were roughly double what moved the previous week, according to Canadian Grain Commission data. However, total canola exports through 41 weeks of the 2023-24 marketing year at 5.1 million tons were still running about 26% behind the year-ago pace.

An estimated 41,842 contracts traded on Friday, which compares with 34,218 contracts traded Thursday.

Spreading accounted for 25,870 of the contracts traded.

Settlement prices are in Canadian dollars per metric ton.

Contracts Prices Change

   Jul       661.10  up 9.60 
   Nov       680.90  up 7.70 
   Jan       688.90  up 7.10 
   Mar       696.30  up 6.70 

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

   Contracts  Prices                     Volume 
   Jul/Nov    19.10 under to 23.20 under 9,061 
   Jul/Jan    27.30 under to 30.60 under   141 
   Jul/Mar    35.70 under                    2 
   Jul/May    40.10 under to 40.90 under     4 
   Nov/Jan     7.70 under to 8.60 under  1,569 
   Nov/Mar    15.50 under                  220 
   Nov/May    19.30 under to 20.50 under    17 
   Jan/Mar     6.90 under to 7.70 under    817 
   Mar/May     1.70 under to 5.10 under    869 
   May/Jul     4.90 over to 2.50 over       97 
   Jul/Nov    45.00 over to 40.00 over     138 

Source: MarketsFarm,

(END) Dow Jones Newswires

05-17-24 1546ET