WINNIPEG, Manitoba--The ICE Futures canola market was weaker on Thursday, returning to the downside as relatively favorable growing conditions and seasonal selling pressure weighed on values.

Seeding operations were nearly complete in Saskatchewan according to the weekly provincial report, with 78 percent of the canola crop rated good-to-excellent.

European rapeseed and Chicago soyoil were higher. Malaysian palm oil was down, but crude oil was up despite a build in United States stockpiles.

At mid-afternoon, the Canadian dollar was down one-quarter of a U.S. cent compared to Wednesday's close.

There were 64,580 canola contracts traded on Thursday, which compares with Wednesday when 78,233 contracts changed hands.

Spreading accounted for 43,626 of the contracts traded.

Settlement prices are in Canadian dollars per metric tonne. 


 
        Price   Change 
 Jul    626.60  dn 5.30 
 Nov    639.90  dn 8.50 
 Jan    646.20  dn 9.00 
 Mar    650.20  dn 8.70

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


 
 Months             Prices               Volume 
 Jul/Nov    10.40 under to 19.50 under   16,863 
 Jul/Jan    17.50 under to 24.80 under       15 
 Nov/Jan    6.20 under to 7.60 under      3,876 
 Nov/Mar    9.80 under to 11.00 under         7 
 Nov/May    14.70 under to 15.30 under       42 
 Jan/Mar    3.00 under to 4.50 under        696 
 Jan/May    8.00 under to 8.20 under         32 
 Mar/May    2.00 under to 4.00 under        280 
 May/Jul    2.20 over                         1 
 Jul/Nov    37.00 over                        1

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


(END) Dow Jones Newswires

06-13-24 1521ET