WINNIPEG, Manitoba--Intercontinental Exchange (ICE) canola futures were lower on Friday, due to weakness in other edible oils. In particular, Chicago soyoil and European rapeseed, which were down hard today.
Losses in canola were tempered by gains in Chicago soymeal, as well as tight supplies and price rationing. Rolling out of the January contract remained a feature in canola trading.
A backlog of grain vessels and train cars continued to build up on either side of Vancouver. Washed out rail lines remain closed for the time being, but in excess of 200,000 tons of grain in cars has built up so far. However, with grain exports being generally lower this marketing year, the impact of the blockages is not as severe as it could be.
At mid-afternoon the Canadian dollar was lower in light of a stronger United States dollar. The loonie was at 79.04 U.S. cents, compared to Thursday's close of 79.27.
There were 29,432 contracts traded on Friday, which compares with Thursday when 20,655 contracts changed hands. Spreading accounted for 21,224 contracts traded.
Settlement prices are in Canadian dollars per metric ton.
Price Change
Canola Jan 1,005.60 dn 8.50
Mar 981.50 dn 9.90
May 950.50 dn 9.50
Jul 914.70 dn 7.40
Spread trade prices are Canadian dollars and the volume represents the number of spreads:
Months Prices Volume Jan/Mar 28.00 over to 20.60 over 5,017 Jan/May 61.30 over to 52.00 over 10 Jan/Jul 99.40 over to 88.00 over 178 Jan/Nov 180.00 over to 178.90 over 9 Mar/May 37.70 over to 30.10 over 2,631 Mar/Jul 67.90 over to 66.60 over 319 Mar/Nov 160.70 over to 156.60 over 609 May/Jul 40.70 over to 35.60 over 704 May/Nov 126.20 over to 123.70 over 614 Jul/Nov 89.80 over to 82.30 over 360 Nov/Jan 1.80 over to 0.90 under 161
Source: Glen Hallick, Commodity News Service Canada
(END) Dow Jones Newswires
11-19-21 1530ET
