ICE Review : Canola Higher on Support From Crude Oil, Chicago Soyoil

WINNIPEG, Manitoba--Intercontinental Exchange canola futures closed higher, reclaiming a good portion of Monday's losses amid lighter activity.

The Canadian oilseed was supported on Tuesday by more rises in crude oil, with additional spillover from gains in Chicago soyoil and MATIF rapeseed. Declines in Malaysian palm oil, Chicago soybeans and soymeal tempered the increases.

The May contract remained above its major moving averages after dipping below its 20-day average earlier Tuesday.

Canola crush margins added more gains, with the May position rising to 296 Canadian dollars per metric ton above the futures.

The Canadian dollar was lower at 72.64 U.S. cents, compared to Monday's close of 72.90.

There were 57,678 contracts traded on Tuesday, compared to 92,760 on Monday. Spreading accounted for 35,394 contracts traded.

Prices are in Canadian dollars per metric ton:

 
   Contracts  Price   Change 

   May        723.90   up 4.80 
   Jul        737.10   up 4.90 
   Nov        730.20   up 3.70 
   Jan        734.80   up 2.50 
 

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

 
   Contracts  Prices                        Volume 
 
   May/Jul    12.50 under to 13.40 under    9,645 
   May/Nov    6.00 under to 7.60 under      1,183 
   Jul/Nov    7.80 over to 5.30 over        5,786 
   Jul/Jan    0.90 over to 0.60 over        2 
   Nov/Jan    4.50 under to 5.80 under      907 
   Jan/Mar    3.00 under to 4.00 under      79 
   Jan/May    4.30 under to 4.40 under      4 
   Jan/Jul    3.00 under to 3.20 under      14 
   Mar/May    0.30 under to 0.80 under      28 
   Mar/Jul    0.30 under to 0.50 under      3 
   May/Jul    0.40 over to 0.20 under       22 
   Jul/Nov    40.00 over to 27.20 over      24 
 

Source: MarketsFarm, [e-mail]

(END) Dow Jones Newswires

03-24-26 1524ET