WINNIPEG, Manitoba -- Intercontinental Exchange (ICE) canola futures finished lower in volatile trading on Thursday.
The action was largely guided by Chicago soyoil, which also incurred large increases, only to step back sharply, but managed to recover for a moderate gain. The wide movement was largely due to the quarterly grains stocks report from the U.S. Department of Agriculture.
Additional support came from higher Malaysian palm oil values, but this was countered by losses in European rapeseed as well as sharp downturns in Chicago soybeans and soymeal.
Saskatchewan reported the harvest of its major crops reached 95% finished, with canola at 92% done. The combining of cereals and pulses was reported to be virtually complete.
At mid-afternoon the Canadian dollar was stronger with the loonie at 78.98 U.S. cents, compared to Wednesday's close of 78.49.
There were 42,295 contracts traded on Thursday, which compares with Wednesday when 28,687 contracts changed hands. Spreading accounted for 15,817 contracts traded.
Canola settlement prices are in Canadian dollars per metric ton.
Price Change
Nov 893.50 dn 0.70
Jan 880.00 dn 3.00
Mar 865.60 dn 6.00
May 839.30 dn 7.10
Spread trade prices are in Canadian dollars and the volume represents the number of spreads:
Months Prices Volume Nov/Jan 14.00 over to 9.50 over 8,332 Nov/Mar 25.00 over to 23.00 over 142 Nov/May 47.70 over to 44.40 over 21 Nov/Jul 77.10 over 2 Nov/Nov 188.90 over 2 Jan/Mar 15.40 over to 9.70 over 4,357 Jan/May 40.00 over to 38.00 over 13 Mar/May 26.80 over to 21.80 over 1,589 Mar/Jul 54.80 over to 54.20 over 35 May/Jul 28.50 over to 24.70 over 765 Jul/Nov 120.00 over to 102.80 over 555 Nov/Jan 10.00 over to 9.90 over 4
Source: Commodity News Service Canada or (news@marketsfarm.com)
(END) Dow Jones Newswires
09-30-21 1542ET
