WINNIPEG, Manitoba--The ICE Futures canola market started the week with positive momentum supported by vegetable oils.

Chicago soyoil and European rapeseed were both on the rise on Monday. However, Malaysian palm oil was down, while crude oil was also lower as traders await a delayed OPEC+ meeting later this week.

The Canadian dollar was little changed compared with Friday's close.

Statistics Canada reported on Monday that 974,376 tons of canola were crushed for the month of October, an increase of 89,045 from October 2022. Meanwhile, deliveries declined by 489,000 tons year-by-year to 1.499 million.

There were 31,961 canola contracts traded on Monday, which compares with Friday when 20,139 contracts changed hands. Spreading accounted for 20,348 of the contracts traded. Settlement prices are in Canadian dollars per metric ton.


CanolaPriceChange

Jan 702.30 up 7.00

Mar 704.90 up 5.50

May 708.40 up 4.70

Jul 711.50 up 4.70


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


MonthsPricesVolumes

Jan/Mar 2.50 under to 4.40 under 7,973 


   Jan/May 6.00 under to 7.60 under   502 
   Jan/Jul 9.10 under to 10.90 under    52 
   Jan/Nov 2.00 under    20

Mar/May 3.00 under to 4.30 under 1,074 


   Mar/Jul 6.30 under to 6.80 under     7 
   Mar/Nov 4.30 over to 2.00 over    31 
   May/Jul 2.50 under to 3.50 under   357 
   Jul/Nov 10.40 over to 8.70 over   158

Source: Commodity News Service Canada, news@marketsfarm.com


(END) Dow Jones Newswires

11-27-23 1521ET