WINNIPEG, Manitoba--Intercontinental Exchange (ICE) canola futures closed higher on Wednesday, although there were slight losses in some of the very sparsely-traded new crop contracts.
For most of the session, the declines were in the old crop months, as the trade focuses more and more on the new crop positions. However, towards the end things switched around.
There was spillover from strong gains in the Chicago soy complex, plus more moderate increases in European rapeseed and Malaysian palm oil. Edible oils received support from another day of upswings in global crude oil prices.
After a round of gains the Canadian dollar turned lower at mid-afternoon, with the loonie at 79.01 U.S. cents, compared to Tuesday's close of 79.18.
There were 26,107 contracts traded on Wednesday, which compares with Tuesday when 29,702 contracts changed hands.
Spreading accounted for 20,022 contracts traded.
Settlement prices are in Canadian dollars per metric tonne.
Price Change Canola
Mar 997.50 up 2.30 May 991.80 up 4.20 Jul 973.20 up 4.80 Nov 835.00 up 1.00
Spread trade prices are Canadian dollars and the volume represents the number of spreads:
Months Prices Volume Mar/May 8.90 over to 4.60 over 7,341 Mar/Jul 26.90 over to 20.80 over 353 Mar/Nov 161.80 over to 156.20 over 11 May/Jul 20.90 over to 15.50 over 1,375 Jul/Nov 140.60 over to 130.50 over 927 Nov/Jan 2.60 over 1 Jan/Mar 4.60 over 2 Mar/May 21.40 over 1
Source: Commodity News Service Canada
Write to Glen Hallick at news@marketsfarm.com
(END) Dow Jones Newswires
01-26-22 1540ET
