WINNIPEG, Manitoba--The ICE Futures canola market was weaker on Monday, dropping in sympathy with the Chicago Board of Trade soy complex as North American weather forecasts turn more moderate.

Chart-based selling contributed to the declines, with some stops likely hit on the way down.

Recent rains in parts of Western Canada helped boost crop prospects for canola. However, conditions remain hot in some areas and more moisture will be needed through the growing season.

Tight old crop supplies and uncertainty over new crop production remained supportive, with scale-down end user demand providing underlying support.

About 17,688 canola contracts traded on Monday, which compares with Friday when 18,097 contracts changed hands.

Spreading accounted for 4,018 of the contracts traded.

Settlement prices are in Canadian dollars per metric tonne.


 
             Price      Change 

Canola


   Jul       853.70    dn 17.30 
   Nov       727.60    dn 16.70 
   Jan       728.80    dn 16.00 
   Mar       726.10    dn 15.30 
 

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


 
   Months             Prices                   Volume 

Canola


   Jul/Nov       133.70 over to 121.90 over       65 
   Nov/Jan       1.80 over to 1.70 under       1,699 
   Nov/Mar       5.00 over to 0.60 over           15 
   Jan/Mar       3.00 over to 0.80 over          215 
   Mar/May       3.50 over                         4 
   May/Jul       7.10 over                         1 
   Jul/Nov       108.00 over to 104.00 over       10 
 

Source: Commodity News Service Canada

Write to Phil Franz-Warkentin at news@marketsfarm.com

(END) Dow Jones Newswires

06-14-21 1531ET