ICE Review : Canola Settles Mixed After Choppy Day

WINNIPEG, Manitoba--The ICE Futures canola market was mixed at Wednesday's close, with losses in the front months and gains in the more deferred positions.

A rally in Chicago soyoil and a weaker tone in the Canadian dollar provided underlying support, with wide crush margins likely keeping end users in the market.

However, broad selling pressure in many outside markets did spill over to weigh on values. Chicago soybeans, European rapeseed and Malaysian palm oil futures were all down on the day.

About 35,709 canola contracts traded on Wednesday, which compares with Tuesday, when 25,190 contracts changed hands.

Spreading accounted for 25,598 of the contracts traded.

Settlement prices are in Canadian dollars per metric ton.

 
Canola     Mar  823.10  dn 3.00 
           May  817.10  dn 0.60 
           Jul  815.30  up 0.30 
           Nov  795.70  up 4.20 
 

Spread trade prices are in Canadian dollars and the volume represents the number of spreads:

 
           Months             Prices              Volume 
           Mar/May   9.20 over  to  5.00 over      4,644 
           Mar/Jul  11.70 over  to  7.20 over        737 
           May/Jul   4.10 over  to  1.60 over      5,993 
           Jul/Nov  24.00 over  to 18.60 over      1,171 
           Nov/Jan   4.70 under to  5.70 under       253 
           Jan/Mar   2.30 under                        1 
 
 

Source: Commodity News Service Canada, [e-mail]

(END) Dow Jones Newswires

02-15-23 1532ET