ICE canola futures end lower in thin trade

All figures in Canadian dollars unless noted

Dec 30 - ICE canola futures closed lower on Monday in thin holiday-season trade.

• Most-traded March canola RSH5 settled down $3.10 at $614.10 per metric ton. Estimated volume, at 19,632 contracts, was less than half of what it was Dec. 12, the contract's busiest trading day so far.

• January canola RSF5 settled down $6.80 to $615.10, eroding most of its premium to March futures as the January contract liquidates ahead of expiration next month.

• May canola RSK5 fell $0.80 to $622.70. July RSN5 and November RSX5 also edged lower.

• The relatively sideways trend of recent sessions is a product of balancing bearish and bullish factors, as well as uncertainty about 2025, said Lawrence Klusa, president of Seges Markets in Winnipeg. "The markets are just kind of sitting here," he said. Dry weather in Argentina and lowered soybean prospects in Brazil are colliding with a big overhang predicted for U.S. soybean stocks to provide the lack of vegoil direction, he added.

* The new year is also full of uncertainty for Canada's canola market, given U.S. President-elect Donald Trump's threats of 25% duties on all Canadian products, China's decision to investigate Canadian canola for alleged dumping, and the risk of a U.S.-China trade war. "Everyone's sitting on pins and needles," said Klusa. Another trader said "It's not going to be a great next year."

• Chicago Board of Trade soyoil futures BOv1 rose 0.75% to 40.30 US cents per pound.

• Malaysian palm oil futures FCPOc3 fell 1.58% on Monday on weakness in both Dalian soyoil and palm oil markets. POI/

• The Canadian dollar CAD= rose against the greenback, providing headwinds for canola, which is traded in loonies rather than U.S. dollars.

(Reporting by Ed White; Editing by Rod Nickel)

((ed.white@thomsonreuters.com; (204) 898-9456))