ICE Review : Canola's Positive Momentum Continues, Mixed Vegetable Oils

WINNIPEG, Manitoba--The ICE Futures canola market closed in positive territory with mixed sentiment in vegetable oils.

While European rapeseed was up on Tuesday, Chicago soyoil was down and Malaysian palm oil was lower in the nearby contracts. Crude oil continued to rise after the release of economic data from China and Ukrainian attacks on Russian refineries.

The Canadian dollar was down more than one-tenth of a U.S. cent compared to Monday's close. Statistics Canada reported the annual inflation rate declined to 2.8% in February.

There were 43,578 canola contracts traded on Tuesday, which compares with Monday when 47,300 contracts changed hands. Spreading accounted for 24,724 of the contracts traded.

Settlement prices are in Canadian dollars per metric ton.

Contracts Prices Change

   May        634.50  up 2.80 
   Jul        644.00  up 2.70 
   Nov        650.30  up 3.10 
   Jan        658.20  up 3.20 
 

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

 
   Contracts  Prices                     Volume 
   May/Jul     9.10 under to 9.90 under  7,035 
   May/Nov    14.80 under to 16.10 under   823 
   May/Mar    27.50 under to 28.00 under    16 
   Jul/Nov     5.60 under to 6.80 under  4,264 
   Nov/Jan     7.60 under to 7.90 under    140 
   Nov/Mar    12.40 under to 13.10 under    27 
   Jan/Mar     4.80 under to 5.20 under     57 
 

Source: MarketsFarm, [e-mail]

(END) Dow Jones Newswires

03-19-24 1533ET