WINNIPEG, Manitoba -- The ICE Futures canola market traded in negative territory on Tuesday despite receiving some support from comparable oils.

Relatively favorable Prairie weather conditions and large old crop supplies weighed on values, with bearish technical signals contributing to the declines as the November contract slipped below its 50-day moving average.

Chicago soyoil was steady, while European rapeseed was mostly higher. Malaysian palm oil made gains in the nearby contracts, while crude oil was also positive.

At mid-afternoon, the Canadian dollar was up less than one-tenth of a U.S. cent compared to Monday's close.

There were 59,208 canola contracts traded on Tuesday, which compares with Monday when 53,252 contracts changed hands.

Spreading accounted for 39,038 of the contracts traded.

Settlement prices are in Canadian dollars per metric tonne. 


 
        Price   Change 
 Jul    627.70  dn 2.40 
 Nov    646.80  dn 5.50 
 Jan    653.20  dn 6.40 
 Mar    657.60  dn 7.10

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


 
 Months                 Prices              Volume 
 Jul/Nov     19.00 under to 25.00 under     14,596 
 Jul/Jan     25.20 under to 31.60 under        200 
 Jul/Mar     31.00 under to 31.90 under         36 
 Nov/Jan      6.20 under to 7.80 under       3,526 
 Nov/Mar     10.20 under to 11.60 under         14 
 Nov/May     17.90 under                        10 
 Jan/Mar      3.60 under to 5.60 under         965 
 Mar/May      3.00 under to 4.70 under         162 
 May/Jul      0.70 over to 0.40 over            10

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


(END) Dow Jones Newswires

06-11-24 1534ET