By Glen Hallick
WINNIPEG, Manitoba -- Glacier FarmMedia - Intercontinental Exchange canola futures closed out Friday on a positive note after bouncing either side of unchanged.
Canola continued to ride the market's generally positive attitude toward last week's Canada-China agreement on reducing tariffs.
There was also spillover from gains in MATIF rapeseed and the Chicago soy complex. However, increases in soyoil faded from earlier highs. The vegetable oils were underpinned by strength in crude oil, but Malaysian palm oil finished lower.
Improved weekly canola exports of 288,200 tonnes were reported by the Canadian Grain Commission. However, the cumulative total of 3.21 million tonnes was nearly 1.9 million less than a year ago.
The March canola contract remained above most of its moving averages, still lagging behind its 100-day average.
The Canadian dollar was stronger on Friday afternoon, with the loonie at 72.94 U.S. cents compared to Thursday's close of 72.47.
There were 54,536 contracts traded on Friday, compared to 36,918 on Thursday. Spreading accounted for 46,926 contracts traded.
Prices are in Canadian dollars per metric tonne:
Canola
Price Change
Mar 651.70 up 4.50
May 662.60 up 4.80
Jul 669.30 up 4.70
Nov 663.00 up 6.80
Spread trade prices are in Canadian dollars and the volume
represents the number of spreads:
Months Prices Volume
Mar/May 9.90 under to 11.40 under 14,715
Mar/Jul 16.60 under to 18.10 under 1,477
Mar/Nov 8.20 under to 11.30 under 57
May/Jul 6.40 under to 7.20 under 3,913
Jul/Nov 9.20 over to 6.00 over 2,415
Jul/Mar 0.50 over to 3.80 under 2
Nov/Jan 5.10 under to 8.20 under 586
Jan/Mar 3.10 under to 4.90 under 28
Source: Glen Hallick, MarketsFarm
(news@marketsfarm.com)
(END) Dow Jones Newswires
01-23-26 1529ET
