WINNIPEG, Manitoba--As November came to a close, the ICE Futures canola market was under pressure by weaknesses in most comparable oils.
While Malaysian palm oil was stronger, Chicago soyoil and European rapeseed were down. Crude oil was also in decline as OPEC+ met today to discuss possible supply cuts.
The Canadian dollar was up one-tenth of a United States cent compared to Wednesday's close.
Statistics Canada will release its principal field crop production report on Dec. 4.
There were 34,595 canola contracts traded on Thursday, which compares with Wednesday when 47,477 contracts changed hands. Spreading accounted for 28,288 of the contracts traded.
Settlement prices are in Canadian dollars per metric ton. Canola Price Change Jan 700.30 dn 2.00 Mar 705.40 dn 1.30 May 711.30 dn 1.20 Jul 716.80 dn 0.60 Spread trade prices are in Canadian dollars and the volume represents the number of spreads: Jan/Mar 3.90 under to 5.30 under 7,603 Jan/May 9.00 under to 11.00 under 18 Jan/Jul 13.20 under to 16.00 under 339 Mar/May 4.60 under to 6.50 under 3,423 Mar/Jul 9.20 under to 12.10 under 33 May/Jul 4.40 under to 5.90 under 1,719 May/Nov 6.10 over to 1.10 over 88 Jul/Nov 11.20 over to 6.80 over 921
Source: Commodity News Service Canada, news@marketsfarm.com
(END) Dow Jones Newswires
11-30-23 1521ET