WINNIPEG, Manitoba--Intercontinental Exchange canola futures were stronger on Tuesday after being closed on Monday for Remembrance Day.

Canola played catch up with the sharp gains in the Chicago soy complex yesterday, along with today's upticks. Additional support came from increases in European rapeseed and Malaysian palm oil.

Global crude oil prices were virtually unchanged, which provided little direction to the vegetable oils.

Chart-based positioning in the Canadian oilseed also contributed to the increases.

Canola crush margins were higher, which kept crushers on the buy the side.

The Canadian dollar was stronger at mid-afternoon Tuesday with the loonie at 72.97 U.S. cents compared to Friday's close of 72.36.

There were 58,832 contracts traded on Tuesday, which compares with Friday when 33,313 contracts changed hands.

Spreading accounted for 34,498 contracts traded.

Prices are in Canadian dollars per metric tonne: 


 
Canola 
        Price   Change 
  Jan   713.90  up 12.80 
  Mar   720.30  up 11.60 
  May   723.40  up 9.80 
  Jul   726.60  up 9.00

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


 
 Months             Prices                  Volume 
 Jan/Mar    6.20 under to 8.00 under        10,380 
 Jan/May    9.70 under to 10.80 under          486 
 Jan/Jul    13.40 under to 14.00 under          21 
 Jan/Nov    0.00                                 9 
 Mar/May    3.00 under to 4.70 under         4,875 
 Mar/Jul    6.10 under to 7.20 under           294 
 May/Jul    2.70 under to 4.10 under           904 
 Jul/Nov    14.80 over to 10.60 over           279 
 Nov/Jan    2.00 under                           1

Source: Commodity News Service Canada, news@marketsfarm.com


(END) Dow Jones Newswires

11-14-23 1537ET