ICE Closing Review : Canola Pulls Away From Losses, Finishing Mixed

WINNIPEG, Manitoba--Intercontinental Exchange (ICE) canola futures were narrowly mixed for the most part on Wednesday. Prices pulled well away from much larger losses due to weakness in global crude oil values and to a measure of profit-taking.

Tight canola supplies, continuing dryness on the Prairies, and seller reluctance underpinned values, as did gains in Malaysian palm oil and Chicago soymeal.

Losses in European rapeseed as well as Chicago soybeans and soyoil weighed on values.

At mid-afternoon the Canadian dollar was lower with the loonie at 80.49 U.S. cents, compared to Tuesday's close of 80.62.

There were 15,895 contracts traded on Wednesday, which compares with Monday when 22,972 contracts changed hands.

Spreading accounted for 9,432 contracts traded.

Settlement prices are in Canadian dollars per metric tonne.

 
             Price     Change 

Canola

   Jan       990.70    dn 0.10 
   Mar       963.10    dn 0.60 
   May       930.80    up 0.10 
   Jul       888.20    up 2.50 
 

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

 
   Months                Prices                Volume 
   Nov/Jan          36.00 over                     2 
   Jan/Mar          29.90 over to 26.90 over    1,649 
   Jan/May          61.80 over to 58.40 over      668 
   Jan/Jul          104.00 over to 102.00 over     15 
   Jan/Nov          233.90 over to 233.10 over    125 
   Mar/May          33.40 over to 31.10 over    1,093 
   Mar/Jul          75.70 over to 72.30 over       97 
   Mar/Nov          213.20 over                     1 
   May/Jul          45.20 over to 40.80 over      578 
   Jul/Nov          137.80 over to 130.70 over    478 
   Nov/Jan          0.70 over to 0.60 over         10 
 

Source: Commodity News Service Canada

Write to Glen Hallick at [e-mail]

(END) Dow Jones Newswires

11-03-21 1532ET