ICE Grain/Oilseed Review : Canola Mixed, Early Buying Interest Fades

WINNIPEG, Manitoba--The ICE Futures canola market was mixed at Wednesday's close, with the bias lower in the most-active months as early buying interest subsided.

While Chicago soyoil and Malaysian palm oil were higher, soybeans and meal were both lower, which weighed on canola.

European rapeseed futures were also down on the day.

Speculators were on both sides of the market, adjusting positions as early chart signals pointed higher before values ran into resistance.

About 32,929 canola contracts traded on Wednesday, which compares with Tuesday when 43,235 contracts changed hands.

Spreading accounted for 19,410 of the contracts traded.

Settlement prices are in Canadian dollars per metric ton.

Prices Change

Canola

Mar 839.10 up 0.60

May 831.70 dn 0.20

Jul 830.20 dn 0.00

Nov 809.00 dn 2.30

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

 
   Months  Prices                   Volume 
 

Mar/May 8.30 over to 6.50 over 3,024

   Mar/Jul  9.70 over to 8.00 over    468 
   Mar/Nov 29.20 over to 28.80 over    10 

May/Jul 1.90 over to 1.00 over 4,271

   May/Nov 23.30 over to 20.10 over    48 

Jul/Nov 21.90 over to 18.50 over 1,786

   Nov/Jan  4.70 under to 5.20 under   96 
   Jan/Mar  2.20 under                  2 
 

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

(END) Dow Jones Newswires

02-22-23 1600ET