WINNIPEG, Manitoba--The ICE Futures canola market was stronger, underpinned by chart-based positioning ahead of the long weekend.

Concerns over excessive moisture in parts of the Prairies added to the firmer tone on Friday.

The ICE canola market will be closed Monday for Canada Day. Grains and oilseeds in the U.S. will trade normal hours.

Chicago soyoil futures were higher on the day, providing some spillover support. European rapeseed and Malaysian palm oil were also higher. However, weakness in Chicago soybeans put some pressure on values.

Weekly Canadian canola exports of 184,900 metric tons were solid, although crop year-to-date movement of 6.0 million tons remained well behind the 7.5 million tons exported a year ago.

An estimated 29,390 contracts traded on Friday, which compares with Thursday when 67,353 contracts traded.

Spreading accounted for 12,322 of the contracts traded.


Settlement prices are in Canadian dollars per metric ton.


Contracts Prices Change 


   Jul        597.90  up 7.30 
   Nov        627.10  up 6.00 
   Jan        634.90  up 6.40 
   Mar        641.80  up 6.70

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


 
   Contracts  Prices                     Volume 
   Jul/Nov    21.50 under to 34.00 under    11 
   Nov/Jan     7.30 under to 8.30 under  4,269 
   Nov/Mar    13.90 under to 15.10 under    34 
   Nov/May    18.70 under to 19.50 under    43 
   Jan/Mar     6.20 under to 7.20 under  1,249 
   Jan/May    10.80 under to 12.00 under     6 
   Jan/Jul    13.50 under to 14.00 under    31 
   Mar/May     3.80 under to 5.00 under    476 
   May/Jul     1.70 under to 2.60 under     42

Source: MarketsFarm, news@marketsfarm.com


(END) Dow Jones Newswires

06-28-24 1613ET