ICE Closing Review : New Crop Canola Pulls Away From Earlier Lows

WINNIPEG, Manitoba--Intercontinental Exchange (ICE) canola futures were mixed on Thursday with gains in old crop July, and the new crop contracts coming well off of their lows from earlier in the session.

Chicago soyoil turned around to finish higher, but downward pressure came from declines in European rapeseed and Malaysian palm oil.

Rain for the southern areas of Alberta and Saskatchewan was forecast to drop up to 10 millimeters, with some locales to perhaps see as much as 25 mm.

After a few days of regaining strength, the Canadian dollar was lower at mid-afternoon. The loonie was at 81.18 U.S. cents compared to Wednesday's close of 81.39.

There were 21,486 contracts traded on Wednesday, which compares with Tuesday when 23,467 contracts changed hands.

Spreading accounted for 6,738 contracts traded.

Settlement prices are in Canadian dollars per metric tonne.

 
             Price     Change 

Canola

   Jul       789.10    up 16.80 
   Nov       738.60    up 0.70 
   Jan       738.80    dn 0.80 
   Mar       732.90    dn 1.10 
 

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

 
   Months                   Prices             Volume 
   Jul/Nov       61.00 over to 39.00 over       572 
   Nov/Jan       2.30 over to 1.00 under      1,732 
   Nov/Mar       6.40 over                        1 
   Nov/May       10.20 over to 5.20 over         13 
   Nov/Jul       19.40 over                       6 
   Jan/Mar       7.10 over to 5.00 over         704 
   Jan/May       12.00 over to 11.40 over         2 
   Jan/Jul       20.50 over                       1 
   Mar/May       6.40 over to 5.10 over          147 
   May/Jul       9.70 over to 7.20 over          166 
   Jul/Nov       98.90 over to 85.50 over         25 
 

Source: Commodity News Service Canada

Write to Glen Hallick at [e-mail]

(END) Dow Jones Newswires

06-24-21 1529ET