WINNIPEG, Manitoba--The ICE Futures canola market was narrowly mixed at Friday's close, with small gains in the front months and losses in the new crop contracts.
A rally in Malaysian palm oil provided some spillover support, while losses in the Chicago soy complex weighed on the other side.
Wide crush margins and solid end user demand remained supportive, with oversold price sentiment contributing to the advances in the old crop contracts.
Canada exported 174,700 metric tons of canola during the week ended Jan. 22, which was down from the 227,300 tons moved the previous week. However, year-to-date exports of 4.11 million tons continue to run well ahead of the previous year's pace of 3.27 million.
About 26,314 canola contracts traded on Friday, which compares with Thursday when 45,184 contracts changed hands.
Spreading accounted for 20,260 of the contracts traded.
Settlement prices are in Canadian dollars per metric ton.
Canola Mar 807.70 up 1.60
May 807.50 up 0.40
Jul 809.70 up 0.20
Nov 793.80 dn 0.70
Spread trade prices are in Canadian dollars and the volume represents the number of spreads:
Contract Prices Volume
Mar/May 0.40 over to 1.50 under 4,614
Mar/Jul 1.60 under to 3.10 under 217
Mar/Nov 14.00 over to 13.20 over 8
May/Jul 2.10 under to 3.00 under 2,350
May/Nov 15.00 over to 12.30 over 774
Jul/Nov 17.60 over to 14.10 over 2,165
Nov/Jan 2.50 under 1
Jan/Mar 0.80 under 1
Source: Commodity News Service Canada, news@marketsfarm.com
(END) Dow Jones Newswires
01-27-23 1529ET
