WINNIPEG, Manitoba-- Intercontinental Exchange canola futures finished higher on Wednesday, due to positive spillover from other vegetable oils.

There were gains in Chicago soyoil, European rapeseed and Malaysian palm oil. However, pressure came from losses in

Chicago soybeans and soymeal. A moderate downturn in crude oil weighed on veg oil values.

Eastern Saskatchewan and the northern growing regions of Alberta are forecast to receive rain over the next couple of days.

Manitoba Agriculture reported overall spring planting in the province was almost two-thirds complete, with the canola at more than 40 percent in the ground.

The Canadian dollar dropped back by mid-afternoon Wednesday with the loonie falling to 72.93 U.S. cents compared to Tuesday's close of 73.32.

There were 30,983 contracts traded on Wednesday, compared to the 38,599 contracts that changed hands on Tuesday.

Spreading accounted for 16,398 contracts traded.

Prices are in Canadian dollars per metric tonne: 


 
 Canola 
        Price   Change 
 Jul    671.70  up 3.00 
 Nov    692.90  up 2.70 
 Jan    701.20  up 3.00 
 Mar    708.60  up 3.20

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


 
 Months              Prices                 Volume 
 Jul/Nov     20.80 under to 22.00 under      6,023 
 Jul/Jan     29.20 under to 29.90 under         43 
 Nov/Jan      7.40 under to 8.40 under       1,076 
 Nov/Mar     14.80 under to 15.80 under         11 
 Jan/Mar      6.80 under to 7.50 under         375 
 Jan/May     11.00 under to 12.30 under        255 
 Jan/Nov     27.50 over to 25.50 over            2 
 Mar/May      2.50 under to 4.90 under         311 
 Mar/Jul      3.00 under                        12 
 May/Jul      4.70 over to 0.70 over            42 
 Jul/Nov     38.90 over to 37.00 over           49

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


(END) Dow Jones Newswires

05-29-24 1605ET