ICE Review : Canola Returns to the Red on Mixed Vegetable Oils, Stronger Canadian dollar

WINNIPEG, Manitoba--The ICE Futures canola market erased Monday's gains on mixed vegetable oils and a stronger Canadian dollar.

Chicago soyoil and Malaysian palm oil were higher Tuesday, but European rapeseed was weaker. Crude oil was higher because of the ongoing threat of attacks on vessels in the Red Sea.

The Canadian dollar was up more than one-third of a U.S. cent compared to Monday's close, at its highest level since August. Statistics Canada reported the country's annual inflation rate remained at 3.1% in November.

There were 33,537 canola contracts traded on Tuesday, which compares with Monday when 54,795 contracts changed hands. Spreading accounted for 23,562 of the contracts traded.

Settlement prices are in Canadian dollars per metric ton.

Contracts Prices Change

   Jan        642.90  dn 8.60 
   Mar        656.50  dn 8.40 
   May        665.80  dn 8.40 
   Jul        672.80  dn 8.40 
 

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

 
   Contracts  Prices                      Volume 
 
   Jan/Mar    12.00 under to 13.90 under  6,107 
   Jan/May    20.80 under to 22.30 under    105 
   Jan/Nov    27.30 under to 29.10 under     66 
   Mar/May     8.50 under to 9.50 under   3,872 
   Mar/Jul    15.20 under to 16.20 under    121 
   Mar/Nov    14.00 under to 14.90 under     61 
   May/Jul     6.40 under to 7.10 under     816 
   Jul/Nov     1.90 over to 0.10 over       621 
   Nov/Jan     1.10 under                     4 
   Jan/Mar     0.10 under                     4 
   Mar/May     6.90 over                      4 
 

Source: MarketsFarm, [e-mail]

(END) Dow Jones Newswires

12-19-23 1526ET