WINNIPEG, Manitoba--Intercontinental Exchange canola prices fell back on Thursday, due a selloff in the futures and equities markets.

That generated steep declines in global crude oil prices, which spilled over into the vegetable oils. The Chicago soy complex was down sharply, while there were more moderate losses in European rapeseed and Malaysian palm oil.

Canola crush margins pulled back as well, with the nearby January position less than C$220 per tonne above futures.

The Canadian dollar was lower at mid-afternoon Thursday with the loonie at 72.68 U.S. cents compared to Wednesday's close of 73.13.

There were 23,792 contracts traded on Thursday, which compares with Wednesday when 41,764 contracts changed hands. Spreading accounted for 12,870 contracts traded.

Prices are in Canadian dollars per metric tonne: 


 Price Change 
 
Canola Jan 706.80 dn 12.70 
 
Mar 712.40 dn 12.70 
 
May 715.80 dn 12.70 
 
Jul 719.40 dn 12.00 
 
Spread trade prices are Canadian dollars and the volume 
 
represents the number of spreads: 
 
Months Prices Volume 
 
Jan/Mar 4.80 under to 5.80 under 3,984 
 
Jan/May 8.00 under to 10.00 under 844 
 
Jan/Nov 2.60 over to 2.30 over 4 
 
Mar/May 3.00 under to 4.40 under 933 
 
Mar/Jul 6.00 under to 8.10 under 221 
 
May/Jul 2.60 under to 3.80 under 333 
 
Jul/Nov 15.00 over to 12.30 over 116

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


(END) Dow Jones Newswires

11-16-23 1522ET