ICE Review : More Losses for Canola

WINNIPEG, Manitoba--Intercontinental Exchange canola futures were weaker on Tuesday, with losses again hitting double digits.

Declines in the Chicago soy complex, European rapeseed and Malaysian palm oil contributed to the pull back in canola.

Small gains in global crude oil prices helped to temper further losses in vegetable oils.

Large canola crush margins continued to underpin the oilseed's values.

The Canadian dollar was lower at mid-afternoon Tuesday, providing additional support for canola. The loonie fell to 74.53 U.S. cents, compared to Monday's close of 74.76.

There were 37,144 contracts traded on Tuesday, which compares with Monday when 25,234 contracts changed hands.

Spreading accounted for 20,030 contracts traded.

Settlement prices are in Canadian dollars per metric ton.

 
                Price     Change 

Canola

   Mar          841.60    dn 17.00 
   May          838.20    dn 17.20 
   Jul          838.80    dn 17.00 
   Nov          810.20    dn 13.40 
 

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

 
   Months             Prices                 Volume 
   Mar/May       5.00 over to 2.70 over       5,224 
   Mar/Jul       4.70 over to 2.20 over         258 
   Mar/Nov       36.80 over to 32.00 over         7 
   May/Jul       0.40 over to 1.00 under      2,923 
   Jul/Nov       32.70 over to 27.40 over     1,346 
   Nov/Jan       2.40 under to 2.70 under       252 
   Nov/Mar       2.00 under                       1 
   Nov/Nov       41.40 over                       1 
   Mar/May       6.00 over                        1 
   May/Jul       7.00 over                        1 
   Jul/Nov       45.00 over                       1 
 

Source: Commodity News Service Canada

Write to Glen Hallick at [e-mail]

(END) Dow Jones Newswires

01-10-23 1530ET