ICE Review : Canola Finally Ends Its Slide

WINNIPEG, Manitoba--The ICE Futures canola market ended the session higher for the first time in 10 days despite being in the red during most of trading.

Chicago soyoil was up, while European rapeseed and Malaysian palm oil were both down. After going into freefall on Wednesday, crude oil gained about US$1.50 per barrel today.

The Canadian dollar was up one quarter of a United States cent compared to Wednesday's close.

About 41,669 canola contracts were traded on Thursday, which compares with Wednesday when 41,911 contracts changed hands.

Spreading accounted for 24,774 of the contracts traded.

Settlement prices are in Canadian dollars per metric tonne.

 
 Canola 
            Prices     Change 
 May        755.80     up 4.80 
 Jul        752.10     up 4.50 
 Nov        734.70     up 5.30 
 Jan        739.10     up 5.10 

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

 
 Months              Prices                 Volume 
 May/Jul        4.00 over to 2.60 over      7,878 
 May/Nov        22.20 over to 20.40 over      452 
 Jul/Nov        18.90 over to 17.00 over    3,872 
 Nov/Jan        4.30 under to 4.70 under      177 
 Jan/Mar        4.00 under                      8 
 

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

(END) Dow Jones Newswires

03-16-23 1546ET