WINNIPEG--Intercontinental Exchange canola futures were on the upswing Monday, as demand fueled the increases with additional support from sellers content to stand on the sidelines. Tight canola supplies remained supportive.
Chicago soyoil also pulled back from earlier increases, but remained in the green at the close. European rapeseed finished higher, while Malaysian palm oil along with Chicago soybeans and soymeal ended on a lower note.
Although the very sparsely traded November contract fell back Monday, it remained well over C$1,000 per metric ton. The contract received its first notice of expiry on Friday and wraps up trading in two weeks.
At mid-afternoon the Canadian dollar was slightly higher with the loonie at 80.84 U.S. cents, compared to Friday's close of 80.75.
There were 18,380 contracts traded Monday, which compares with Friday when 11,130 contracts changed hands. Spreading accounted for 11,124 contracts traded.
Settlement prices are in Canadian dollars per metric ton.
Price Change
Canola Jan 970.20 up 10.40
Mar 946.10 up 7.80
May 914.90 up 6.20
Jul 872.60 up 4.90
Spread trade prices are Canadian dollars and the volume represents the number of spreads:
Months Prices Volume
Nov/Jan 74.50 over to 52.00 over 6
Nov/Mar 100.00 over 2
Jan/Mar 26.30 over to 20.60 over 3,064
Jan/May 56.80 over to 53.90 over 684
Jan/Jul 99.90 over to 98.60 over 2
Mar/May 33.50 over to 28.40 over 1,222
Mar/Jul 77.00 over to 72.20 over 141
May/Jul 44.50 over to 39.20 over 253
Jul/Nov 142.90 over to 134.60 over 188
Source: Commodity News Service Canada, news@marketsfarm.com
(END) Dow Jones Newswires
11-01-21 1535ET
