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ICE Review : Canola Ends Week on a Firm Note

10/15/2021 | 03:36pm EST

WINNIPEG--The ICE Futures canola market was mostly stronger Friday, although some of the more deferred months moved lower as the spreads saw some readjustment.

Gains in outside markets, including Chicago Board of Trade soyoil, Malaysian palm oil and European rapeseed futures, provided spillover support for the Canadian oilseed.

Canada's tight supply situation and a lack of significant farmer selling, as harvest operations have wrapped up across most of the Prairies, contributed to the gains.

However, recent strength in the Canadian dollar tempered the upside. The currency held relatively steady on Friday, but has gained over a cent relative to its U.S. counterpart over the past week. The rising currency cuts into crush margins and makes exports less attractive for international buyers.

About 27,183 canola contracts traded Friday, which compares with Thursday, when 29,915 contracts changed hands. Spreading accounted for 20,108 of the contracts traded.

Settlement prices are in Canadian dollars per metric ton.

 
 
 
                          Price      Change 
 
Canola            Nov     915.50    up  5.30 
                  Jan     907.10    up  4.00 
                  Mar     891.40    up  1.90 
                  May     866.00    dn  0.20 
 
 

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

 
 
   Months              Prices              Volume 
   Nov/Jan    9.00  over to   5.30  over    4,153 
   Nov/Mar   24.70  over to  20.10  over    1,140 
   Nov/Jul   75.20  over                        5 
   Jan/Mar   16.00  over to  12.90  over    2,149 
   Jan/May   40.40  over to  35.40  over      475 
   Jan/Jul   66.50  over to  65.50  over       19 
   Jan/Nov  199.40  over to 197.30  over       17 
   Mar/May   26.30  over to  22.50  over    1,095 
   Mar/Jul   55.80  over to  49.40  over      172 
   Mar/Nov  184.50  over to 182.70  over       32 
   May/Jul   30.50  over to  26.90  over      760 
   Jul/Nov  130.80  over to 127.20  over       37 
 
 

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

(END) Dow Jones Newswires

10-15-21 1535ET

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