ICE Grain/Oilseed Review : Canola Higher, Chicago and Europe Up

WINNIPEG--After prices bounced back on Thursday following two weeks of losses, the ICE Futures canola market put in another positive session on Friday. It is the first time since Feb. 22 that canola has advanced in two consecutive days.

Both Chicago soyoil and European rapeseed moved higher, while Malaysian palm oil and crude oil took losses.

At midafternoon, the Canadian dollar was down four-tenths of a U.S. cent compared to Thursday's close.

About 41,203 canola contracts traded on Friday, which compares with Thursday when 38,344 contracts changed hands. Spreading accounted for 27,462 of the contracts traded.

Settlement prices are in Canadian dollars per metric ton.

Canola

Months Price Change

   May    743.40 up 8.20 
   Jul    727.40 up 9.20 
   Nov    704.10 up 9.10 
   Jan    707.90 up 9.10 
 

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

 
   Months                           Volume 

May/Jul 17.50 over to 13.60 over 7,252

May/Nov 43.20 over to 38.50 over 1,581

   May/Jan 34.30 over                   1 

Jul/Nov 26.50 over to 22.50 over 4,264

   Jul/Jan 20.10 over to 19.30 over    38 
   Jul/Mar 17.80 over to 17.70 over     4 

Nov/Jan 3.50 under to 4.00 under 477

   Nov/Mar  7.00 under to 7.50 under   12 
   Nov/Jul  1.10 over                   3 
   Jan/Mar  3.50 under to 3.80 under   94 
   Mar/May  2.90 over                   1 
   May/Jul  5.70 over                   1 
   Jul/Nov 49.00 over                   3 
 

Source: MarketsFarm, [e-mail]

(END) Dow Jones Newswires

03-24-23 1540ET