WINNIPEG--Intercontinental Exchange canola futures saw gains in old-crop months Thursday, while lightly traded new-crop positions were lower.

Strong upticks in the Chicago soy complex and sharp increases in European rapeseed fueled the rise in canola. However, a downturn in Malaysian palm oil weighed on prices. Edible oils were supported by gains in global crude-oil prices.

Although canola is generally seen as overpriced, continuing tight supplies and the ongoing need to ration demand underpinned prices.

The Canadian dollar at mid-afternoon was higher at 78.19 U.S. cents compared to Wednesday's close of 77.56.

There were 20,559 contracts traded Thursday, which compares with Wednesday when 19,315 contracts changed hands. Spreading accounted for 15,498 contracts traded.

Settlement prices are in Canadian dollars per metric ton. 


 
       Price    Change

Canola

Jan 1,001.00 up 1.30 


   Mar   985.70 up 7.10 
   May   949.50 up 7.10 
   Jul   899.70 up 7.60

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


 
   Months  Prices                    Volume

Jan/Mar 22.20 over to 10.00 over 4,088 


   Jan/May  53.10 over to 47.00 over   399 
   Jan/Nov 238.60 over                   1

Mar/May 38.00 over to 35.20 over 1,757 


   Mar/Jul  88.40 over to 85.90 over   758 
   Mar/Nov 224.80 over to 224.10 over   10 
   May/Jul  52.40 over to 49.00 over   443 
   May/Nov 189.40 over to 182.40 over   10

Jul/Nov 145.00 over to 130.00 over 192 


   Nov/Jan   2.10 over to 1.50 over     91

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

(END) Dow Jones Newswires

12-16-21 1551ET