ICE Grain/Oilseed Review : Canola Slightly Higher With Crude-Oil Gains

WINNIPEG--The ICE Futures canola market closed slightly higher Tuesday to go along with crude-oil price gains.

Chicago soyoil was higher, as well as Malaysian palm oil. However, European rapeseed was lower. Meanwhile, crude-oil prices regained their positive momentum after a correction on Monday.

At midafternoon, the Canadian dollar was mostly steady compared to Monday's close.

Statistics Canada reported earlier Tuesday that the annual inflation rate declined to 6.3% in December compared to 6.8% in November.

About 30,170 canola contracts were traded Tuesday, which compares with Monday when 11,880 contracts changed hands.

Spreading accounted for 21,056 of the contracts traded.

Settlement prices are in Canadian dollars per metric ton.

Prices Change

Mar 841.90 up 1.00

May 840.20 up 0.60

Jul 841.70 up 0.50

Nov 822.90 up 0.80

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

 
           Prices                    Volume 
   Mar/May  4.50 over to 0.50 over   5,464 
   Mar/Jul  3.00 over to 0.00 under    598 
   Mar/Nov 21.80 over to 19.00 over    244 

May/Jul 0.70 under to 2.00 under 2,543

   May/Nov 19.00 over to 16.80 over     56 

Jul/Nov 20.90 over to 17.50 over 1,623

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

(END) Dow Jones Newswires

01-17-23 1537ET