ICE Grain/Oilseed Review : Canola Lower, Pressured by Canadian Dollar

WINNIPEG--The ICE Futures canola market ended Friday with its worst showing of the week, pressured by a stronger Canadian dollar.

Chicago soyoil and European rapeseed were both lower, while Malaysian palm oil was mixed. Crude oil gained more than $1 per barrel due to optimism over a potential resurgence in Chinese demand.

At midafternoon, the Canadian dollar gained more than four-tenths of a U.S. cent compared to Thursday's close.

About 31,900 canola contracts traded Friday, which compares with Thursday when 35,940 contracts changed hands. Spreading accounted for 18,828 of the contracts traded.

Settlement prices are in Canadian dollars per metric ton.

Prices Change

Mar 812.90 dn 13.80

May 812.60 dn 13.30

Jul 815.00 dn 12.00

Nov 796.90 dn 10.50

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

 
           Prices                   Volume 
 
   Mar/May  1.50 over to 0.10 over   4,681 
   Mar/Jul  0.70 under to 2.40 under   525 
   Mar/Nov 17.40 over                   11 

May/Jul 0.80 under to 2.50 under 2,468

   May/Nov 16.60 over to 16.50 over     80 

Jul/Nov 20.70 over to 17.60 over 1,642

   Nov/Jan  2.90 under to 3.10 under     2 
   Nov/Mar  3.90 under                   4 
   Jan/Mar  0.90 under                   1 
 

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

(END) Dow Jones Newswires

01-20-23 1539ET