ICE Review : Strong Finish to Week

WINNIPEG, Manitoba--Intercontinental Exchange canola futures closed stronger on Friday, after a shaky start to the session.

Increases in the Chicago soy complex and European rapeseed underpinned the Canadian oilseed. Losses in Malaysian palm oil tempered canola's upside.

As the Middle East situation remained uncertain, modest increases in crude oil spilled over into the vegetable oils.

The Canadian Grain Commission reported for the week ended May 3, canola exports improved to 315,600 tonnes from 194,000 the previous week.

A trader said lighter volumes of trading raised the possibility for greater movement in canola.

After the July canola contract flirted with slipping back to its 50-day moving average, today's close pushed the contract higher.

The Canadian dollar fell back on Friday afternoon, with the loonie at 73.07 U.S. cents, compared to Thursday's close of 73.34.

There were 44,087 canola contracts traded on Friday, compared to 65,205 on Thursday. Spreading accounted for 19,358 contracts traded.

Prices are in Canadian dollars per metric tonne:

 
           Price      Change 
Jul       753.10    up 13.90 
Nov       757.90    up 14.70 
Jan       765.40    up 14.30 
Mar       770.50    up 13.80 

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

 
Months    Prices                            Volume 
Jul/Nov   2.80 under to 4.90 under           6,606 
Jul/Jan   10.80 under to 12.50 under           265 
Nov/Jan   7.20 under to 8.00 under           2,186 
Nov/Mar   11.90 under to 13.00 under           112 
Jan/Mar   4.80 under to 5.70 under             438 
Jan/May   6.40 under to 7.30 under               1 
Mar/May   1.20 under to 1.90 under              68 
Jul/Nov   51.00 over to 48.90 over               3 
 

Source: Commodity News Service Canada, [e-mail]

(END) Dow Jones Newswires

05-08-26 1521ET