WINNIPEG, Manitoba--The ICE Futures canola market suffered double-digit losses on Thursday amid mostly negative sentiment in comparable oils.
Despite continuing tensions in the Middle East, crude oil was down. Chicago soyoil and European rapeseed were also lower, while Malaysian palm oil prices were higher.
At mid-afternoon, the Canadian dollar was steady compared to Wednesday's close.
There were 30,559 canola contracts traded on Thursday, which compares with Wednesday when 27,269 contracts changed hands. Spreading accounted for 11,990 of the contracts traded.
Settlement prices are in Canadian dollars per metric ton. Canola Price Change Mar 631.50 dn 10.40 May 639.40 dn 10.40 Jul 645.60 dn 10.40 Nov 645.00 dn 10.50 Spread trade prices are in Canadian dollars and the volume represents the number of spreads: Jan/Mar 9.00 under 250 Mar/May 7.80 under to 8.40 under 2,993 Mar/Jul 13.50 under to 14.80 under 210 Mar/Nov 12.20 under to 13.70 under 394 May/Jul 5.50 under to 6.60 under 1,193 Jul/Nov 1.80 over to 0.30 over 848 Nov/Jan 0.00 to 0.60 under 107
Source: Commodity News Service Canada, news@marketsfarm.com
(END) Dow Jones Newswires
01-04-24 1519ET