WINNIPEG, Manitoba--The ICE Futures canola market took a step back on Monday following overall weakness in comparable oils.
Chicago soyoil, European rapeseed and Malaysian palm oil all retreated. Crude oil was also down after peak demand from the Independence Day holiday in the U.S. dissipated and lackluster economic data from China.
At midafternoon, the Canadian dollar was nearly down three-tenths of a U.S. cent compared to Friday's close.
There were 39,870 canola contracts traded on Monday, which compares with Friday when 30,785 contracts changed hands. Spreading accounted for 15,356 of the contracts traded. Settlement prices are in Canadian dollars per metric tonne.
Canola Price Change Nov 615.50 dn 3.20 Jan 624.30 dn 3.80 Mar 630.70 dn 5.40 May 636.10 dn 6.30
Spread trade prices are in Canadian dollars and the volume represents the number of spreads:
Contracts Prices Volume
Nov/Jan 9.60 under to 11.70 under 5,262
Nov/Mar 16.20 under to 18.60 under 1,203
Nov/May 21.30under to 24.30 under 61
Jan/Mar 6.20 under to 8.00 under 3,187
Jan/May 12.70 under to 12.80 under 27
Mar/May 4.00 under to 6.00 under 1,149
May/Jul 1.00 under to 1.80 under 139
Jul/Nov 36.80 over to 26.00 over 95
Source: Commodity News Service Canada, news@marketsfarm.com
(END) Dow Jones Newswires
07-15-24 1526ET
