WINNIPEG, Manitoba--The ICE Futures canola market tumbled and tested new support levels on Friday as comparable oils provided negative sentiment.

Chicago soyoil and European rapeseed were lower. Meanwhile, crude oil was down partially due to demand concerns. Malaysian palm oil was higher.

The Canadian Grain Commission reported 152,100 tons of canola exports during the week ended June 9, down from 238,400 tons the week before. Cumulative exports this year total 5.716 million tons, down from 7.359 million last year.

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

There were 59,889 canola contracts traded on Friday, which compares with Thursday when 64,580 contracts changed hands. Spreading accounted for 35,596 of the contracts traded. 


 
Settlement prices are in Canadian dollars per metric ton. 
 
Canola     Price        Change 
 Jul       605.40       dn 21.20 
 Nov       624.40       dn 15.50 
 Jan       631.50       dn 14.70 
 Mar       636.30       dn 13.90 
 
Spread trade prices are in Canadian dollars and the volume represents the number of spreads: 
 
Jul/Nov       13.70 under to 19.40 under       12,306 
Jul/Jan       21.00 under to 23.20 under           56 
Nov/Jan        6.00 under to 7.20 under         4,829 
Nov/Mar       10.30 under to 11.70 under           45 
Jan/Mar        3.50 under to 4.80 under           533 
Mar/May        2.80 under to 3.60 under            29

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


(END) Dow Jones Newswires

06-14-24 1533ET