WINNIPEG, Manitoba--The ICE Futures canola market was mixed on Monday, with losses in the nearby March contract and gains in the more deferred months. Speculative positioning was a feature on the last trading day of the month.
Gains in Chicago Board of Trade soybeans provided some underlying support for the Canadian oilseed, as beans hit fresh contract highs. However, soyoil was softer on the day and the Canadian dollar was stronger, which cuts into crush margins.
France's Strategie Graines forecast European rapeseed production this upcoming year at 18.2 million tonnes, which would be up by 7.4 percent from 2021.
Chinese markets are closed this week for the Lunar New Year holiday, limiting some activity.
About 18,072 canola contracts traded on Monday, which compares with Friday when 30,039 contracts changed hands.
Spreading accounted for 8,494 of the contracts traded.
Settlement prices are in Canadian dollars per metric tonne.
Price Change Canola
Mar 1,013.20 dn 4.40 May 1,002.00 up 1.60 Jul 976.20 up 2.70 Nov 836.40 up 0.20
Spread trade prices are in Canadian dollars and the volume
represents the number of spreads:
Months Prices Volume Mar/May 20.00 over to 10.10 over 2,201 Mar/Jul 50.00 over to 35.30 over 39 Mar/Nov 195.10 over to 175.30 over 8 May/Jul 32.70 over to 23.10 over 1,362 Jul/Nov 149.20 over to 137.00 over 580 Nov/Jan 3.00 over 57
Source: Commodity News Service Canada
Write to Phil Franz-Warkentin at news@marketsfarm.com
(END) Dow Jones Newswires
01-31-22 1541ET
