WINNIPEG, Manitoba–The ICE Futures canola market consolidated on Wednesday’s gains due to support from comparable oils.
Chicago soyoil, European rapeseed and Malaysian palm oil all ended the day higher. Meanwhile, crude oil was also in positive territory as optimism towards the recovery of Chinese demand outweighed concerns over monetary tightening from central banks.
At mid-afternoon, the Canadian dollar was up less than one-tenth of a U.S. cent compared to Wednesday’s close.
About 29,665 canola contracts were traded on Thursday, which compares with Wednesday when 27,897 contracts changed hands. Spreading accounted for 17,794 of the contracts traded. Settlement prices are in Canadian dollars per metric tonne.
Price Change
May 825.30 up 6.70
Jul 820.80 up 6.00
Nov 796.40 up 4.20
Jan 801.30 up 4.50
Spread trade prices are in Canadian dollars and the volume represents the number of spreads:
Months Prices Volume Mar/May 30.00 over to 25.00 over 15 May/Jul 6.00 over to 3.60 over 4,277 May/Nov 29.50 over to 24.20 over 155 Jul/Nov 25.00 over to 19.70 over 3,459 Jul/Jan 15.80 over 3 Nov/Jan 4.50 under to 5.40 under 571 Nov/Mar 9.00 under 20 Jan/Mar 2.90 under to 5.60 under 397
Source: Commodity News Service Canada
Write to Adam Peleshaty at [email protected]
(END) Dow Jones Newswires
03-02-23 1524ET
