WINNIPEG, Manitoba--As November came to a close, the ICE Futures canola market was under pressure by weaknesses in most comparable oils.

While Malaysian palm oil was stronger, Chicago soyoil and European rapeseed were down. Crude oil was also in decline as OPEC+ met today to discuss possible supply cuts.

The Canadian dollar was up one-tenth of a United States cent compared to Wednesday's close.

Statistics Canada will release its principal field crop production report on Dec. 4.

There were 34,595 canola contracts traded on Thursday, which compares with Wednesday when 47,477 contracts changed hands. Spreading accounted for 28,288 of the contracts traded. 


 
Settlement prices are in Canadian dollars per metric ton. 
 
Canola      Price           Change 
 Jan        700.30          dn 2.00 
 Mar        705.40          dn 1.30 
 May        711.30          dn 1.20 
 Jul        716.80          dn 0.60 
 
Spread trade prices are in Canadian dollars and the volume represents the number of spreads: 
 
Jan/Mar      3.90 under to 5.30 under       7,603 
Jan/May      9.00 under to 11.00 under         18 
Jan/Jul     13.20 under to 16.00 under        339 
Mar/May      4.60 under to 6.50 under       3,423 
Mar/Jul      9.20 under to 12.10 under         33 
May/Jul      4.40 under to 5.90 under       1,719 
May/Nov      6.10 over to 1.10 over            88 
Jul/Nov     11.20 over to 6.80 over           921

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


(END) Dow Jones Newswires

11-30-23 1521ET