WINNIPEG, Manitoba--The ICE Futures canola market rebounded on Monday, receiving support from a weaker Canadian dollar and positive sentiment in comparable oils.

Chicago soyoil and Malaysian palm oil were up, as well as crude oil. However, European rapeseed was down.

Statistics Canada will release its Dec. 31 grain stocks report on Thursday, with 2023-24 canola stocks expected to rise 300,000 tonnes from the year before at 13 million.

At mid-afternoon, the loonie was down four-tenths of a U.S. cent compared to Friday's close.

There were 52,311 canola contracts traded on Monday, which compares with Friday when 55,789 contracts changed hands.

Spreading accounted for 33,544 of the contracts traded.

Settlement prices are in Canadian dollars per metric tonne. 


 
        Price   Change 
 Mar    598.30  up 6.20 
 May    604.20  up 5.60 
 Jul    608.70  up 6.10 
 Nov    608.80  up 6.30

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


 
 Months                 Prices              Volume 
 Mar/May        5.40 under to 6.50 under    10,523 
 Mar/Jul        9.60 under to 10.80 under      203 
 Mar/Nov        10.80 under                      2 
 May/Jul        3.90 under to 4.60 under     4,073 
 May/Nov        3.60 under to 4.80 under       225 
 May/Jan        9.00 under to 9.30 under        21 
 Jul/Nov        0.50 over to 1.00 under      1,632 
 Nov/Jan        4.80 under to 5.10 under        92 
 Nov/Mar        6.10 under                       1

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


(END) Dow Jones Newswires

02-05-24 1558ET