ICE Review : Canola Ends Higher After Choppy Day

WINNIPEG, Manitoba--The ICE Futures canola market was stronger on Wednesday, after trading within a wide range in choppy activity.

Ongoing concerns over hot and dry Prairie weather cutting into the size of the Canadian crop remained supportive, as industry participants lower their yield expectations.

The nearby forecasts remain relatively hot and dry, with any moisture at this stage of development unlikely to do much for the crops.

The Chicago soy complex was mixed on the day, accounting for some of the volatility in the Canadian oilseed.

The Canadian dollar held relatively steady, providing little direction.

About 20,917 canola contracts traded on Wednesday, which compares with Tuesday when 22,901 contracts changed hands.

Spreading accounted for 12,698 of the contracts traded.

Settlement prices are in Canadian dollars per metric tonne.

 
             Price      Change 

Canola

   Nov       872.80    up 17.70 
   Jan       858.90    up 14.40 
   Mar       845.10    up 12.40 
   May       825.20    up 11.80 
 

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

 
   Months                Prices                Volume 

Canola

   Nov/Jan       14.70 over to 11.10 over       2,605 
   Nov/Mar       28.90 over to 25.00 over          61 
   Jan/Mar       15.60 over to 11.70 over       2,621 
   Jan/May       34.90 over to 33.60 over           2 
   Mar/May       20.30 over to 17.70 over         621 
   May/Jul       25.50 over to 20.40 over         430 
   Jul/Nov       142.50 over to 137.20 over         9 
 

Source: Commodity News Service Canada

Write to Phil Franz-Warkentin at [e-mail]

(END) Dow Jones Newswires

08-04-21 1535ET