WINNIPEG, Manitoba--Intercontinental Exchange canola prices closed stronger on Monday, due to support from sharp upticks in the Chicago soy complex as well more modest increases in Malaysian palm oil.

Global crude oil prices also climbed higher, lending support to the vegetable oils. Meanwhile, pressure on the Canadian oilseed was felt from losses in European rapeseed.

Canola crush margins for the nearby January positions bumped up to nearly C$220 per tonne above futures.

Statistics Canada is scheduled to publish its survey-based production report in two weeks' time. Positioning ahead of the report is set to occur as the report draws closer.

The Canadian dollar was virtually unchanged at mid-afternoon Monday with the loonie at 72.86 U.S. cents.

There were 45,076 contracts traded on Monday, which compares with Friday when 26,551 contracts changed hands.

Spreading accounted for 29,284 contracts traded.

Prices are in Canadian dollars per metric tonne: 


 
Canola 
        Price    Change 
 Jan    716.70   up 19.50 
 Mar    720.40   up 18.60 
 May    724.80   up 19.20 
 Jul    729.20   up 19.60

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


 
  Months                  Prices               Volume 
  Jan/Mar       3.20 under to 4.90 under        8,356 
  Jan/May       7.50 under to 9.10 under          707 
  Jan/Jul       11.70 under to 13.40 under        167 
  Jan/Nov       4.40 under                         17 
  Mar/May       3.00 under to 4.90 under        2,338 
  Mar/Jul       6.20 under to 9.50 under          543 
  Mar/Nov       0.50 over                          39 
  May/Jul       3.00 under to 4.80 under        1,323 
  May/Nov       7.10 over to 4.00 over             80 
  Jul/Nov       12.00 over to 8.30 over         1,062 
  Nov/Jan       1.00 under to 1.10 under            6 
  Jan/Mar       5.90 over                           4

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


(END) Dow Jones Newswires

11-20-23 1534ET