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, news@marketsfarm.com
(END) Dow Jones Newswires
05-22-24 1528ET