WINNIPEG, Manitoba--Intercontinental Exchange canola prices closed stronger on Monday, due to support from sharp upticks in the Chicago soy complex as well more modest increases in Malaysian palm oil.
Global crude oil prices also climbed higher, lending support to the vegetable oils. Meanwhile, pressure on the Canadian oilseed was felt from losses in European rapeseed.
Canola crush margins for the nearby January positions bumped up to nearly C$220 per tonne above futures.
Statistics Canada is scheduled to publish its survey-based production report in two weeks' time. Positioning ahead of the report is set to occur as the report draws closer.
The Canadian dollar was virtually unchanged at mid-afternoon Monday with the loonie at 72.86 U.S. cents.
There were 45,076 contracts traded on Monday, which compares with Friday when 26,551 contracts changed hands.
Spreading accounted for 29,284 contracts traded.
Prices are in Canadian dollars per metric tonne:
Canola Price Change Jan 716.70 up 19.50 Mar 720.40 up 18.60 May 724.80 up 19.20 Jul 729.20 up 19.60
Spread trade prices are Canadian dollars and the volume represents the number of spreads:
Months Prices Volume Jan/Mar 3.20 under to 4.90 under 8,356 Jan/May 7.50 under to 9.10 under 707 Jan/Jul 11.70 under to 13.40 under 167 Jan/Nov 4.40 under 17 Mar/May 3.00 under to 4.90 under 2,338 Mar/Jul 6.20 under to 9.50 under 543 Mar/Nov 0.50 over 39 May/Jul 3.00 under to 4.80 under 1,323 May/Nov 7.10 over to 4.00 over 80 Jul/Nov 12.00 over to 8.30 over 1,062 Nov/Jan 1.00 under to 1.10 under 6 Jan/Mar 5.90 over 4
Source: Commodity News Service Canada, email@example.com
(END) Dow Jones Newswires