WINNIPEG, Manitoba--Intercontinental Exchange canola prices were lower as the selloff in the futures and equities markets carried on for a second day.

Friday's pullbacks weren't as severe as those incurred on Thursday, according to an analyst. Crude-oil prices had turned around to climb significantly higher, he noted.

Declines in European rapeseed and Malaysian contributed to the losses in canola. Pullbacks in Chicago soybeans and soymeal also weighed on values. Upticks in Chicago soyoil attempted to stymie further declines in the Canadian oilseed.

The Canadian Grain Commission reported that after 15 weeks into the 2023-24 marketing year producer deliveries of canola were 4.9 million metric tons, and down from the 5.58 million a year ago.

Canola exports were also lower at nearly 1.8 million versus the 2.1 million last year. At 3.06 million tons, domestic usage remained ahead of last year's 2.79 million.

The Canadian dollar was higher at 72.89 U.S. cents compared to Thursday's close of 72.73.

There were 26,551 contracts traded on Friday, which compares with Thursday when 23,792 contracts changed hands. Spreading accounted for 16,534 contracts traded.


Canola prices are in Canadian dollars per metric ton: 


 
   Contracts    Price   Change 
   Jan          697.20  dn 9.60 
   Mar          701.80  dn 10.60 
   May          705.60  dn 10.20 
   Jul          709.60  dn 9.80

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


 
   Contracts  Prices                    Volume 
 
   Jan/Mar     3.00 under to 5.80 under 5,529 
   Jan/May     7.20 under to 9.10 under   662 
   Jan/Jul    11.60 under to 13.10 under   75 
   Jan/Nov     0.70 over to 0.70 under      5 
   Mar/May     3.10 under to 4.50 under 1,053 
   Mar/Jul     7.50 under to 8.50 under    92 
   Mar/Nov     5.20 over                   18 
   May/Jul     3.10 under to 4.30 under   467 
   Jul/Nov    14.70 over to 10.10 over    363 
   Nov/Jan     2.70 under to 2.80 under     3

Source: MarketsFarm, news@marketsfarm.com


(END) Dow Jones Newswires

11-17-23 1542ET