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ICE Grain/Oilseed Review : Canola Mixed, Supply and Weather Featured

07/23/2021 | 03:41pm EDT

WINNIPEG--The ICE Futures canola market was mixed at Friday's close, with gains in the most-active nearby contracts and losses in the more deferred months.

Tightening supply projections and the need to ration demand remained supportive. Crop prospects continue to deteriorate across the Prairies, with hot temperatures and little moisture in the forecasts over the next week.

Gains in Chicago Board of Trade soyoil and a softer tone in the Canadian dollar also underpinned canola, although soybeans were weaker on the day.

About 14,528 canola contracts traded on Friday, which compares with Thursday when 19,921 contracts changed hands. Spreading accounted for 5,466 of the contracts traded.

Settlement prices are in Canadian dollars per metric ton.

 
                          Price     Change 
Canola            Nov     883.40    up  2.10 
                  Jan     867.40    up  0.70 
                  Mar     850.10    dn  0.30 
                  May     830.80    dn  0.90 
 

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

 
Months  Prices                          Volume 
Canola 
Nov/Jan  17.60  over to  13.90  over      671 
Nov/Mar  35.50  over to  32.90  over       10 
Nov/May  52.20  over to  49.00  over       14 
Nov/Jul  79.70  over                        1 
Nov/Nov 214.00  over to 212.00  over        2 
Jan/Mar  18.20  over to  16.10  over    1,187 
Jan/May  37.80  over to  35.50  over      153 
Mar/May  19.70  over to  17.60  over      299 
Mar/Jul  44.30  over to  43.80  over        6 
May/Jul  25.60  over to  19.70  over      358 
May/Nov 161.30  over to 157.60  over       21 
Jul/Nov 137.70  over to 131.70  over       11 
 

Source: news@marketsfarm.com

(END) Dow Jones Newswires

07-23-21 1540ET

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