ICE Review : Canola Takes Step Back

WINNIPEG, Manitoba--The ICE Futures canola market reversed course and retreated on Friday despite mostly positive sentiment in comparable oils.

While Chicago soyoil was down, European rapeseed and Malaysian palm oil were on the rise. Crude oil was also higher.

At mid-afternoon, the Canadian dollar was up less than one-tenth of a U.S. cent compared to Thursday's close.

There were 61,169 canola contracts traded on Friday, which compares with Thursday when 81,222 contracts changed hands. Spreading accounted for 50,156 of the contracts traded.

 
Settlement prices are in Canadian dollars per metric ton. 
 
Canola      Price           Change 
 Mar        588.40          dn 7.30 
 May        596.90          dn 7.50 
 Jul        602.60          dn 7.70 
 Nov        602.10          dn 7.90 
 
Spread trade prices are in Canadian dollars and the volume represents the number of spreads: 
 
Mar/May          7.00 under to 9.10 under       14,536 
Mar/Jul         13.10 under to 14.70 under         749 
Mar/Nov         13.30 under to 14.80 under         113 
May/Jul          5.10 under to 6.40 under        6,702 
May/Nov          5.10 under to 6.30 under           60 
Jul/Nov          0.70 over to 0.20 under         2,913 
Nov/Jan          4.30 under to 4.70 under            5 
 

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

(END) Dow Jones Newswires

02-09-24 1520ET