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ICE Grain/Oilseed Review : Canola Comes Off Its Lows

10/22/2021 | 05:26pm EST

WINNIPEG--Intercontinental Exchange canola futures finished weaker Friday, but came well off their lows and even made gains prior to the close.

A trader said the liquidation of the November contract will pick up the pace during the next week.

Losses in Chicago soyoil, European rapeseed and Malaysian palm oil weighed on values. Ongoing issues with very tight canola supplies underpinned prices. So did concerns that dry conditions from this year could carry on in 2022 if soil moisture levels fail to improve dramatically before spring planting.

At midafternoon, the Canadian dollar was slightly lower with the loonie at 80.86 U.S. cents, compared to Thursday's close of 80.97.

There were 31,715 contracts traded on Friday, which compares with Thursday when 31,106 contracts changed hands. Spreading accounted for 26,646 contracts traded.

Settlement prices are in Canadian dollars per metric ton.

Canola

Price Change

Nov 929.70 dn 7.70

Jan 925.30 dn 2.10

Mar 911.90 dn 0.40

May 886.70 dn 0.20

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

 
   Months  Prices                    Volume 
 

Nov/Jan 11.90 over to 4.10 over 4,877

   Nov/Mar  26.50 over to 18.20 over   413 
   Nov/May  53.50 over to 43.50 over   170 
   Nov/Jul  78.00 over                 150 
   Nov/Nov 229.00 over                  13 

Jan/Mar 16.50 over to 12.10 over 4,857

   Jan/May  39.70 over                   1 
   Jan/Jul  75.50 over to 70.00 over   184 

Mar/May 27.60 over to 24.00 over 1,566

   Mar/Jul  60.60 over to 56.10 over    54 
   May/Jul  33.90 over to 30.40 over   859 

Jul/Nov 137.90 over to 132.50 over 155

   Nov/Jan   8.30 over to 8.20 over     12 
   Jan/Mar   2.60 over to 2.40 over     12 
 

Source: Commodity News Service Canada, news@marketsfarm.com

(END) Dow Jones Newswires

10-22-21 1725ET

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