ICE Review : Canola Lower, Ends Rally on Lack of Support From Comparable Oils

WINNIPEG, Manitoba--The ICE Futures canola market couldn't hold onto early gains and closed lower on a lack of support from comparable oils.

Crude oil and Chicago soyoil were both lower Wednesday. European rapeseed and Malaysian palm oil fell in the nearby contracts.

The Canadian dollar lost more than one-tenth of a U.S. cent compared to Tuesday's close.

There were 46,880 canola contracts traded, which compares with Tuesday when 61,170 contracts changed hands. Spreading accounted for 21,338 of the contracts traded.

Settlement prices are in Canadian dollars per metric ton.

Contracts Prices Change

   May        626.70  dn 7.70 
   Jul        639.40  dn 6.80 
   Nov        655.20  dn 3.70 
   Jan        663.10  dn 3.60 
 

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

 
   Contracts  Prices                      Volume 
   May/Jul     9.10 under to 12.90 under  4,012 
   May/Nov    20.60 under to 28.70 under    119 
   May/Jan    28.00 under to 36.30 under     95 
   Jul/Nov    10.70 under to 15.80 under  5,427 
   Jul/Jan    18.20 under to 23.70 under    214 
   Nov/Jan     6.90 under to 8.00 under     768 
   Nov/Jul     2.00 over                      5 
   Jan/Mar     2.30 under to 3.00 under      17 
   Mar/May     2.60 over to 2.10 over         6 
   May/Jul     7.40 over to 6.00 over         6 
 

Source: MarketsFarm, [e-mail]

(END) Dow Jones Newswires

04-24-24 1537ET