WINNIPEG, Manitoba--The ICE Futures canola market continued its rally on Tuesday amidst mostly positive sentiment in comparable oils.
Crude oil was trading higher due to speculation over possible interest rate cuts in the United States. Chicago soyoil and Malaysian palm oil were also stronger. However, European rapeseed was lower.
At mid-afternoon, the Canadian dollar was up three-tenths of a U.S. cent compared to Monday's close.
There were 61,170 canola contracts traded on Tuesday, which compares with Monday when 54,619 contracts changed hands.
Spreading accounted for 29,698 of the contracts traded.
Settlement prices are in Canadian dollars per metric tonne.
Price Change May 634.40 up 7.50 Jul 646.20 up 5.60 Nov 658.90 up 4.60 Jan 666.70 up 3.80
Spread trade prices are in Canadian dollars and the volume represents the number of spreads:
Months Prices Volume May/Jul 10.80 under to 14.50 under 6,136 May/Nov 21.70 under to 26.90 under 248 May/Jan 29.70 under to 35.10 under 47 Jul/Nov 10.50 under to 14.00 under 6,800 Jul/Jan 19.10 under to 20.30 under 108 Nov/Jan 7.70 under to 8.50 under 929 Nov/Mar 12.00 under to 13.10 under 26 Jan/Mar 2.50 under to 4.80 under 239 Jan/May 2.10 under to 3.90 under 11 Jan/Jul 2.00 over 10 Mar/May 3.00 over to 1.00 over 276 May/Jul 7.60 over to 6.00 over 19
Source: Commodity News Service Canada, news@marketsfarm.com
(END) Dow Jones Newswires
04-23-24 1553ET