WINNIPEG, Manitoba--After the first trading day of 2024, the ICE Futures canola market was under pressure due to weakness from comparable oils, but losses were tempered by a weaker Canadian dollar.

While Chicago soyoil was up, European rapeseed and Malaysian palm oil were in the red, while crude oil eased back.

At mid-afternoon, the loonie was down six-tenths of a United States cent compared to Friday's close. The Bank of Canada didn't publish an exchange rate on Monday due to New Year's Day.

There were 26,797 canola contracts traded on Tuesday, which compares with Friday when 21,084 contracts changed hands.

Spreading accounted for 14,230 of the contracts traded.

Settlement prices are in Canadian dollars per metric tonne. 


 
        Price    Change 
 Mar    643.10   dn 10.30 
 May    651.60   dn 9.50 
 Jul    658.00   dn 8.80 
 Nov    656.10   dn 7.60

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


 
 Months                  Prices                 Volume 
 Mar/May        7.20 under to 8.70 under        3,484 
 Mar/Jul        13.50 under to 15.00 under        226 
 Mar/Nov        10.80 under to 12.00 under        205 
 May/Jul        5.00 under to 6.60 under        1,955 
 Jul/Nov        3.40 over to 1.80 over          1,245

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


(END) Dow Jones Newswires

01-02-24 1525ET