WINNIPEG, Manitoba--ICE Futures canola contracts were higher on Monday, underpinned by advances in the Chicago soy complex.

--European rapeseed futures were also sharply higher on the day, with end-user bargain hunting after prices hit 16-month lows last week providing support. Reports that a Bunge-owned crusher in eastern Ukraine was damaged by a Russian attack also supported rapeseed values.

--Geopolitical uncertainty following the capture of Venezuelan President Nicolas Maduro by the United States over the weekend kept some caution in global markets, including the agricultural commodities.

--Bullish chart signals contributed to the gains in canola, with the March contract extending its move above C$600 per ton after briefly testing that support level on Friday.

--Canada exported 121,000 tons of canola during the week ended Dec. 28, which was up by 26% from the previous week, reported the Canadian Grain Commission.

Crop-year-to-date canola exports of 2.66 million tons compare with 4.53 million tons by the same time the previous year.

--Large supplies and a lack of export demand from China continued to overhang the canola market.

--There were 38,105 contracts traded on Monday, which compares with Friday when 28,320 contracts changed hands.

Spreading accounted for 14,238 of the contracts traded. 


 
Settlement prices in Canadian dollars per metric ton. 
 
Canola     Price        Change 
 Mar       610.80       up 6.90 
 May       621.10       up 6.70 
 Jul       628.90       up 5.70 
 Nov       631.10       up 3.10 
 
Spread trade prices are in Canadian dollars and the volume represents the number of spreads: 
 
Months                  Prices                Volume 
Mar/May        9.50 under to 10.70 under       3,873 
Mar/Jul       17.80 under to 18.70 under         265 
Mar/Nov       20.10 under to 21.10 under          55 
May/Jul        7.40 under to 8.70 under        2,170 
May/Nov       10.00 under to 12.80 under           7 
May/Jan       15.40 under to 16.80 under           2 
Jul/Nov        1.40 under to 4.10 under          736 
Jul/Jan        8.80 under to 9.00 under            1 
Nov/Jan        6.00 under to 6.90 under            9 
Jan/Mar        3.00 under to 3.10 under            1

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


(END) Dow Jones Newswires

01-05-26 1544ET