ICE Review : Canola Ends Mostly Lower

WINNIPEG, Manitoba--The ICE Futures canola market was mixed on Tuesday, with sharp losses in the most active front months and a firmer tone in the lightly-traded new crop contracts.

Chart-based selling was a feature as speculators continued to book profits on their large long positions.

Improving crop prospects for soybeans in South America and resulting declines in the Chicago futures also weighed on the Canadian oilseed. However, gains in soyoil and crude oil provided some underlying support.

Canada's tight supply situation remained another supportive influence, although the need to ration demand is thought to be well priced into the market for the time being.

About 22,158 canola contracts traded on Tuesday, which compares with Monday when 7,882 contracts changed hands.

Spreading accounted for 11,676 of the contracts traded.

Settlement prices are in Canadian dollars per metric tonne.

 
             Price       Change 

Canola

   Mar       964.00    dn 11.20 
   May       951.90    dn 8.50 
   Jul       924.10    dn 8.10 
   Nov       794.50    up 0.90 
 

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

 
   Months                Prices             Volume 
   Mar/May    14.60 over to 10.00 over       2,977 
   Mar/Jul    43.10 over to 37.00 over         156 
   Mar/Nov    180.80 over to 166.80 over        27 
   May/Jul    30.30 over to 26.40 over       1,835 
   May/Nov    168.70 over to 161.10 over        20 
   Jul/Nov    141.80 over to 128.50 over       818 
   Nov/Jan    4.90 over to 4.80 over             5 
 

Source: Commodity News Service Canada

Write to Phil Franz-Warkentin at [e-mail]

(END) Dow Jones Newswires

01-18-22 1542ET