WINNIPEG, Manitoba--The ICE Futures canola market settled with small gains on Thursday despite losses in the Chicago Board of Trade soy complex as the Canadian oilseed continued to show some independent strength.

Tight canola supplies remained a major supportive influence underneath the market, as prices stay firm in an effort to ration demand.

The technical charts are also still pointed higher for canola, although ideas that the market may be looking overpriced at current levels did temper the upside somewhat.

About 17,885 canola contracts traded on Thursday, which compares with Wednesday when 14,820 contracts changed hands.

Spreading accounted for 10,026 of the contracts traded.

Settlement prices are in Canadian dollars per metric tonne. 


 
              Price      Change

Canola 


   Mar       1,023.30    up 0.30 
   May       1,001.60    up 0.90 
   Jul       952.50      up 0.50 
   Nov       786.80      up 0.90

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


 
   Months                Prices             Volume 
   Mar/May    23.00 over to 18.00 over       2,716 
   Mar/Jul    74.30 over to 65.00 over         163 
   Mar/Nov    238.00 over to 229.00 over       256 
   May/Jul    52.60 over to 46.00 over       1,587 
   May/Nov    216.90 over to 213.00 over        13 
   Jul/Nov    169.50 over to 158.90 over       262 
   Nov/Jan    6.70 over to 3.60 over            16

Source: Commodity News Service Canada

Write to Phil Franz-Warkentin at news@marketsfarm.com

(END) Dow Jones Newswires

01-06-22 1609ET