WINNIPEG, Manitoba--Intercontinental Exchange canola futures closed higher on Monday, but well off of earlier double-digit increases.

Sharp upswings in crude oil spilled into the vegetable oils.

Gains in Malaysian palm oil, European rapeseed and Chicago soyoil, supported canola.

While chilly temperatures might slow spring planting on the Canadian Prairies, the May to July outlook has called for above normal temperatures with normal to below normal precipitation.

The United States Commodity Futures Trading Commission reported the net managed money long position for canola at 80,834 contracts as of April 28.

The July canola contract remained well above its major technical levels, further underpinning the Canadian oilseed.

The Canadian dollar was lower on Monday afternoon, with the loonie at 73.49 U.S. cents, compared to Friday's close of 73.66.

There were 54,408 canola contracts traded on Monday, compared to 49,693 on Friday. Spreading accounted for 26,478 contracts traded.

Prices are in Canadian dollars per metric tonne: Price Change 


 
           Price      Change 
Jul       758.80     up 2.50 
Nov       763.20     up 5.00 
Jan       769.90     up 5.20 
Mar       774.90     up 5.50

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


 
Months    Prices                            Volume 
Jul/Nov   0.90 under to 4.90 under          10,086 
Jul/Jan   8.90 under to 11.10 under             76 
Jul/Mar   13.00 under to 16.20 under            19 
Nov/Jan   5.90 under to 6.90 under           2,258 
Nov/Mar   10.40 under to 11.90 under           154 
Nov/Jul   11.00 under to 12.40 under             5 
Jan/Mar   4.30 under to 5.20 under             517 
Mar/May   0.50 under to 1.20 under              76 
Mar/Jul   0.70 under                             9 
May/Jul   0.50 over to 0.40 over                26 
Jul/Nov   56.20 over to 52.00 over              13

Source: Commodity News Service Canada, news@marketsfarm.com


(END) Dow Jones Newswires

05-04-26 1520ET