WINNIPEG--The ICE Futures canola market was stronger on Monday, boosted by spillover from gains in Chicago Board of Trade soyoil and Malaysian palm oil.
Bullish chart signals contributed to the gains, as prices neared major upside resistance.
Tight supplies remained another supportive influence, although demand is already being rationed at current price levels, according to participants. Recent strength in the Canadian dollar also weighed on values.
About 25,547 canola contracts traded on Monday, which compares with Friday when 31,715 contracts changed hands. Spreading accounted for 21,796 of the contracts traded.
Settlement prices are in Canadian dollars per metric ton.
Price Change Canola Nov 948.80 up 19.10 Jan 943.50 up 18.20 Mar 928.60 up 16.70 May 900.90 up 14.20
Spread trade prices are in Canadian dollars and the volume represents the number of spreads:
Months Prices Volume Nov/Jan 8.30 over to 4.50 over 5,417 Nov/Mar 21.50 over to 19.70 over 517 Nov/May 45.70 over 1 Nov/Nov 215.50 over 4 Jan/Mar 15.20 over to 11.50 over 3,163 Jan/May 41.90 over to 41.80 over 2 Jan/Jul 76.00 over to 73.00 over 112 Jan/Nov 222.00 over 1 Mar/May 28.40 over to 24.80 over 1,012 Mar/Jul 63.30 over to 57.50 over 145 May/Jul 34.90 over to 31.00 over 461 Jul/Nov 147.10 over to 135.20 over 57 Nov/Jan 9.40 over 6
Source: Commodity News Service Canada, news@marketsfarm.com
(END) Dow Jones Newswires
10-25-21 1539ET