WINNIPEG, Manitoba--The ICE Futures canola market continued its downturn on Wednesday, but losses were limited by rising comparable oils and a weaker Canadian dollar.

Chicago soyoil, European rapeseed and Malaysian palm oil closed in positive territory. Meanwhile, crude oil was up more than US$2 per barrel after protests shut down Libya's Sharara oil field.

At mid-afternoon, the Canadian dollar lost three-tenths of a United States cent compared to Tuesday's close.

There were 27,269 canola contracts traded on Wednesday, which compares with Tuesday when 26,797 contracts changed hands.

Spreading accounted for 16,558 of the contracts traded.

Settlement prices are in Canadian dollars per metric tonne. 


 
        Price   Change 
 Mar    641.90  dn 1.20 
 May    649.80  dn 1.80 
 Jul    656.00  dn 2.00 
 Nov    655.50  dn 0.60

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


 
 Months                 Prices                  Volume 
 Mar/May        7.50 under to 8.50 under        4,250 
 Mar/Jul        13.80 under to 14.90 under        685 
 Mar/Nov        12.00 under to 13.50 under          7 
 May/Jul        5.80 under to 6.70 under        1,402 
 May/Nov        4.50 under to 6.00 under           26 
 Jul/Nov        1.80 over to 0.30 over          1,909

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


(END) Dow Jones Newswires

01-03-24 1523ET