WINNIPEG, Manitoba--Intercontinental Exchange (ICE) canola futures were higher on Tuesday in a show of independent strength as support from comparable oils was mixed.
There were strong upticks in Chicago soyoil, but soybeans were either side of steady while soymeal was lower. Malaysian palm oil was also down, with European rapeseed striking a mixed tone.
Global crude oil prices were also mixed and not providing vegetable oils with a clear direction.
Canola crush margins continued to be quite strong and underpinning values.
Statistics Canada is scheduled to release its grain stocks report on Feb. 7.
The Canadian dollar was higher at mid-afternoon Tuesday, as the United States dollar pulls back. The loonie rises to 75.16 U.S. cents compared to Monday's close of 74.87.
There were 36,218 contracts traded on Tuesday, which compares with Monday when 38,287 contracts changed hands.
Spreading accounted for 25,392 contracts traded.
Settlement prices are in Canadian dollars per metric tonne.
Price Change Canola
Mar 831.90 up 4.00 May 831.20 up 4.40 Jul 833.00 up 4.30 Nov 812.40 up 3.60
Spread trade prices are Canadian dollars and the volume represents the number of spreads:
Months Prices Volume Mar/May 1.80 over to 0.00 4,192 Mar/Jul 0.00 to 1.70 under 1,960 May/Jul 1.10 under to 2.20 under 3,247 May/Nov 23.60 over to 18.10 over 621 Jul/Nov 25.00 over to 20.00 over 2,622 Nov/Jan 2.50 under to 3.10 under 54
Source: Commodity News Service Canada
Write to Glen Hallick at news@marketsfarm.com
(END) Dow Jones Newswires
01-31-23 1531ET
