WINNIPEG, Manitoba--The ICE Futures canola market went into negative territory again on Friday despite mixed sentiment in comparable oils.

Chicago soyoil and European rapeseed traded lower, while Malaysian palm oil closed higher. Crude oil gained more than US$1 per barrel due to increasing tensions in the Middle East.

At mid-afternoon, the Canadian dollar was steady compared to Thursday's close.

More than 400 unionized workers at Viterra in Saskatchewan are set to go on strike this afternoon after failing to reach a new deal with management. The two sides met in Regina on Thursday where issues including wages and work-life balance were discussed.

There were 25,010 canola contracts traded on Friday, which compares with Thursday when 30,559 contracts changed hands. Spreading accounted for 11,192 of the contracts traded. 


 
Settlement prices are in Canadian dollars per metric ton. 
 
Canola      Price           Change 
 Mar        618.90          dn 12.60 
 May        626.80          dn 12.60 
 Jul        633.10          dn 12.50 
 Nov        632.70          dn 12.30 
 
Spread trade prices are in Canadian dollars and the volume represents the number of spreads: 
 
Jan/Mar      9.00 under                       347 
Mar/May      7.50 under to 8.40 under       2,806 
Mar/Jul     13.40 under to 14.60 under        317 
Mar/Nov     13.60 under to 14.00 under         32 
May/Jul      5.70 under to 6.30 under       1,180 
May/Nov      5.70 under to 5.90 under          84 
Jul/Nov      1.60 over to 0.20 over           830

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


(END) Dow Jones Newswires

01-05-24 1516ET