ICE Review : Canola Slides From Session Highs, But Holds Small Gains

WINNIPEG, Manitoba--The ICE Futures canola market held onto its small gains on Wednesday, but settled well off its session highs after rising to its strongest levels of 2024 earlier in the day.

Canola was supported by Chicago soyoil and European rapeseed. However, crude oil was down after reports suggested a growth in U.S. stockpiles.

At mid-afternoon, the Canadian dollar was down more than one-tenth of a U.S. cent compared to Tuesday's close.

There were 40,863 canola contracts traded on Wednesday, which compares with Tuesday when 43,482 contracts changed hands. Spreading accounted for 17,210 of the contracts traded.

 
Settlement prices are in Canadian dollars per metric ton. 
 
Canola     Price        Change 
 Jul       665.60       up 0.40 
 Nov       687.80       up 2.20 
 Jan       695.60       up 1.90 
 Mar       702.60       up 1.60 
 
Spread trade prices are in Canadian dollars and the volume represents the number of spreads: 
 
Jul/Nov       19.30 under to 22.30 under        7,368 
Jul/Jan       27.90 under to 30.20 under           57 
Nov/Jan        7.60 under to 8.30 under           927 
Nov/Mar       14.50 under to 14.70 under            4 
Jan/Mar        6.80 under to 7.20 under            97 
Jan/Jul        9.50 under                          34 
Mar/May        4.20 under to 4.80 under            62 
Mar/Jul        2.30 under to 3.00 under            16 
Jul/Nov       40.00 over to 38.00 over             32 
Nov/Jan       16.00 over                            8 
 

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

(END) Dow Jones Newswires

05-22-24 1528ET