WINNIPEG, Manitoba--The ICE Futures canola market was weaker, hitting fresh three-month lows.

The most-active November contract tested the psychological $620 Canadian dollar per-metric-ton level on several occasions during Monday's session, settling just below the key chart point.

Losses in Chicago soyoil accounted for some spillover selling pressure in canola. However, soybeans turned higher while European rapeseed and Malaysian palm oil held near unchanged.

While persistent cool and wet conditions across parts of western Canada remained supportive, most of the canola is thought to be in decent shape.

Statistics Canada is due to release updated acreage estimates on Thursday. The U.S. Agriculture Department is scheduled to report seeded- area numbers on Friday.

An estimated 34,660 contracts traded on Monday, which compares with Friday when 44,052 contracts traded.

Spreading accounted for 17,532 of the contracts traded.

Settlement prices are in Canadian dollars per metric ton.

Contracts Prices Change

   Jul        600.70  dn 5.40 
   Nov        617.80  dn 4.70 
   Jan        624.20  dn 4.60 
   Mar        628.20  dn 4.30 

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

   Contracts  Prices                     Volume 
   Jul/Nov    15.00 under to 19.70 under 4,131 
   Jul/Jan    23.50 under to 24.70 under     5 
   Nov/Jan     6.00 under to 6.90 under  2,772 
   Nov/Mar     9.20 under to 10.50 under   123 
   Nov/May    11.60 under to 13.20 under    62 
   Nov/Jul    11.00 under to 12.50 under     8 
   Jan/Mar     3.00 under to 4.00 under  1,155 
   Jan/May     5.50 under to 6.90 under    172 
   Mar/May     1.40 under to 3.00 under    329 
   May/Jul     0.30 over to 0.40 under       9 

Source: MarketsFarm,

(END) Dow Jones Newswires

06-24-24 1548ET