ICE Review : Canola Higher on Comparable Oils, Weaker Canadian Dollar

WINNIPEG, Manitoba--The ICE Futures canola market made gains partly because of support from comparable oils and a weaker Canadian dollar.

Chicago soyoil and Malaysian palm oil were higher Monday, while European rapeseed was steady to higher. Crude oil advanced more than $1 per barrel.

The Canadian dollar was down one-tenth of a U.S. cent compared to Friday's close.

There were 39,916 canola contracts traded on Monday, which compares with Friday when 38,858 contracts changed hands.

Spreading accounted for 21,526 of the contracts traded.

Settlement prices are in Canadian dollars per metric ton.

 
   Contracts  Price   Change 
   Mar        581.10  up  8.70 
   May        588.30  up 10.10 
   Jul        595.20  up  8.60 
   Nov        601.60  up  8.00 
 

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

   Contracts  Prices                     Volume 
   Mar/May     5.80 under to 8.40 under  5,050 
   Mar/Jul    13.00 under to 15.20 under   137 
   Mar/Nov    19.80 under to 21.20 under    34 
   Mar/Jan    23.60 under to 24.90 under     4 
   May/Jul     6.40 under to 8.60 under  4,266 
   May/Nov    13.00 under to 15.20 under   116 
   Jul/Nov     6.30 under to 7.00 under  1,097 
   Nov/Jan     4.20 under to 4.80 under     59 
 

Source: MarketsFarm, [e-mail]

(END) Dow Jones Newswires

02-26-24 1533ET