WINNIPEG--Intercontinental Exchange canola futures finished weaker Friday, but came well off their lows and even made gains prior to the close.
A trader said the liquidation of the November contract will pick up the pace during the next week.
Losses in Chicago soyoil, European rapeseed and Malaysian palm oil weighed on values. Ongoing issues with very tight canola supplies underpinned prices. So did concerns that dry conditions from this year could carry on in 2022 if soil moisture levels fail to improve dramatically before spring planting.
At midafternoon, the Canadian dollar was slightly lower with the loonie at 80.86 U.S. cents, compared to Thursday's close of 80.97.
There were 31,715 contracts traded on Friday, which compares with Thursday when 31,106 contracts changed hands. Spreading accounted for 26,646 contracts traded.
Settlement prices are in Canadian dollars per metric ton.
Nov 929.70 dn 7.70
Jan 925.30 dn 2.10
Mar 911.90 dn 0.40
May 886.70 dn 0.20
Spread trade prices are in Canadian dollars and the volume represents the number of spreads:
Months Prices Volume
Nov/Jan 11.90 over to 4.10 over 4,877
Nov/Mar 26.50 over to 18.20 over 413
Nov/May 53.50 over to 43.50 over 170
Nov/Jul 78.00 over 150
Nov/Nov 229.00 over 13
Jan/Mar 16.50 over to 12.10 over 4,857
Jan/May 39.70 over 1
Jan/Jul 75.50 over to 70.00 over 184
Mar/May 27.60 over to 24.00 over 1,566
Mar/Jul 60.60 over to 56.10 over 54
May/Jul 33.90 over to 30.40 over 859
Jul/Nov 137.90 over to 132.50 over 155
Nov/Jan 8.30 over to 8.20 over 12
Jan/Mar 2.60 over to 2.40 over 12
Source: Commodity News Service Canada, firstname.lastname@example.org
(END) Dow Jones Newswires