WINNIPEG, Manitoba--Intercontinental Exchange canola futures closed lower in holiday trading on Monday. As with Friday's trading, canola was unable to hang on to its gains from the overnight session.

That's despite support from the Chicago soy complex, but Malaysian palm oil was lower and European rapeseed was mixed.

Small upticks in crude oil spilled over into the vegetable oils.

The March contract remained above its 20-day moving average but fell further away from its other major averages.

The Canadian Grain Commission reported for the week ended Dec.

22 that year-to-date producer deliveries of canola reached 8.18 million tonnes, compared to 6.59 million a year ago. Canola exports so far this year topped 4.39 million tonnes versus 2.42 million and domestic use hit 4.61 million tonnes, ahead of the 4.18 million this time last year.

The CGC also reported that 90 per cent of this year's canola samples it tested rated number one. However, the mean oil content slipped from 2023/24 to 42.6 per cent.

There were 28,864 contracts traded on Monday, compared to 32,188 on Friday. Spreading accounted for 12,084 contracts traded.

Prices are in Canadian dollars per metric tonne:


 
           Price      Change 
Jan       615.10     dn 6.80 
Mar       614.10     dn 3.10 
May       622.70     dn 0.80 
Jul       625.30     dn 0.50 

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


 
Months    Prices                            Volume 
Jan/Mar   4.90 over to 4.00 under              657 
Mar/May   5.50 under to 8.70 under           3,830 
Mar/Jul   8.70 under to 11.40 under            128 
May/Jul   1.20 under to 3.00 under           1,017 
May/Nov   20.20 over                             2 
Jul/Nov   23.50 over to 21.40 over             408 
 

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


(END) Dow Jones Newswires

12-30-24 1529ET