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ICE Review : Canola Mixed After Choppy Day

11/24/2021 | 03:46pm EST

WINNIPEG, Manitoba -- The ICE Futures canola market was mixed at Wednesday's close, setting fresh highs in the front months and moving lower in the more deferred positions.

U.S. markets will be closed Thursday for Thanksgiving, and positioning ahead of the holiday was a feature.

Gains in Chicago Board of Trade soyoil futures provided some spillover support for canola, but the other U.S. grains and oilseeds were all weaker.

The underlying fundamentals for canola remain supportive, as the market continues to work to ration demand in the face of tight supplies.

Rail movement in British Columbia was reportedly resuming, bringing grain to the port of Vancouver once again.

However, with more rain in the forecast, there could be more weather-related delays in the region.

About 23,576 canola contracts traded on Wednesday, which compares with Tuesday when 17,611 contracts changed hands.

Spreading accounted for 12,884 of the contracts traded.

Settlement prices are in Canadian dollars per metric ton.

                      Price                   Change 
   Canola       Jan 1,030.20                  up 5.50 
                Mar  999.40                   up 2.00 
                May  962.30                   up 0.20 
                Jul  919.90                   dn 1.00 

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

   Months             Prices                            Volume 
   Jan/Mar            31.00 over to 25.20 over           3,941 
   Jan/May            68.10 over to 63.00 over             465 
   Jan/Nov           211.30 over to 210.00 over             16 
   Mar/May            38.00 over to 34.80 over           1,045 
   Mar/Jul            80.70 over to 76.10 over              82 
   May/Jul            44.20 over to 40.20 over             459 
   May/Nov           147.10 over                             4 
   Jul/Nov           113.00 over to 99.40 over             401 
   Jul/Jan           110.00 over                             2 
   Nov/Jan             1.00 over                            27 

Source: Commodity News Service Canada (news@marketsfarm.com)

(END) Dow Jones Newswires

11-24-21 1546ET

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