WINNIPEG, Manitoba -- The ICE Futures canola market was mixed at Wednesday's close, setting fresh highs in the front months and moving lower in the more deferred positions.
U.S. markets will be closed Thursday for Thanksgiving, and positioning ahead of the holiday was a feature.
Gains in Chicago Board of Trade soyoil futures provided some spillover support for canola, but the other U.S. grains and oilseeds were all weaker.
The underlying fundamentals for canola remain supportive, as the market continues to work to ration demand in the face of tight supplies.
Rail movement in British Columbia was reportedly resuming, bringing grain to the port of Vancouver once again.
However, with more rain in the forecast, there could be more weather-related delays in the region.
About 23,576 canola contracts traded on Wednesday, which compares with Tuesday when 17,611 contracts changed hands.
Spreading accounted for 12,884 of the contracts traded.
Settlement prices are in Canadian dollars per metric ton.
Price Change
Canola Jan 1,030.20 up 5.50
Mar 999.40 up 2.00
May 962.30 up 0.20
Jul 919.90 dn 1.00
Spread trade prices are in Canadian dollars and the volume represents the number of spreads:
Months Prices Volume Jan/Mar 31.00 over to 25.20 over 3,941 Jan/May 68.10 over to 63.00 over 465 Jan/Nov 211.30 over to 210.00 over 16 Mar/May 38.00 over to 34.80 over 1,045 Mar/Jul 80.70 over to 76.10 over 82 May/Jul 44.20 over to 40.20 over 459 May/Nov 147.10 over 4 Jul/Nov 113.00 over to 99.40 over 401 Jul/Jan 110.00 over 2 Nov/Jan 1.00 over 27
Source: Commodity News Service Canada (news@marketsfarm.com)
(END) Dow Jones Newswires
11-24-21 1546ET
