WINNIPEG, Manitoba--Intercontinental Exchange canola futures climbed higher on Thursday as traders look to exit the January contract.
Increases in Chicago soybeans and soymeal as well as those in MATIF rapeseed supported prices, but declines in Chicago soyoil and Malaysian palm oil tempered the upside. Losses in crude oil also pressured the vegetable oils.
An analyst said the usual Christmas lull was beginning to set in and any notable movement was unlikely to happen unless there were major geopolitical or weather events.
The analyst cautioned that despite the canola crush running at capacity, there's a record harvest of the oilseed still facing a lack of export prospects as China remains on the sidelines. The analyst suggested the 2025/26 canola carryout could reach four million tonnes.
The Canadian dollar was stronger on Thursday afternoon with the loonie at 72.59 U.S. cents compared to Wednesday's close of 72.28.
There were 88,166 contracts traded on Thursday, compared to 73,406 on Wednesday. Spreading accounted for 70,598 contracts traded.
Canola Price Change Jan 621.30 up 5.90 Mar 632.80 up 6.00 May 644.00 up 5.60 Jul 650.90 up 5.10
Spread trade prices are in Canadian dollars and the volume represents the number of spreads:
Months Prices Volume Jan/Mar 11.10 under to 12.00 under 24,471 Jan/May 22.40 under to 23.60 under 592 Jan/Jul 29.60 under to 30.70 under 255 Mar/May 10.90 under to 12.00 under 6,314 Mar/Jul 17.70 under to 18.90 under 416 Mar/Nov 14.20 under to 17.40 under 29 May/Jul 6.70 under to 7.60 under 2,136 May/Nov 3.70 under to 5.50 under 3 Jul/Nov 3.60 over to 0.40 over 1,082 No/Jan 5.60 under to 5.70 under 1
Source: Commodity News Service Canada, news@marketsfarm.com
(END) Dow Jones Newswires
12-11-25 1523ET
