WINNIPEG--The ICE Futures canola market was mixen Friday, after trading to both sides of unchanged in choppy activity in reaction to conflicting outside influences.
Concerns over a new Covid-19 variant sparked sharp losses in crude oil and equity markets Friday, with resulting weakness in the Chicago Board of Trade soy complex spilling into the canola market as well.
However, the Canadian dollar was also down sharply on the day, which helped temper the declines. The underlying fundamentals of tight supplies and the need to ration demand also remained supportive, helping the front months move higher.
Markets in the U.S. closed early Friday due to the Thanksgiving holiday, while the canola market traded its usual hours.
About 20,719 canola contracts traded Friday, which compares with Thursday, when 4,433 contracts changed hands. Spreading accounted for 13,144 of the contracts traded.
Settlement prices are in Canadian dollars per metric ton.
Price Change
Canola Jan 1,038.90 up 5.50
Mar 1,003.90 up 2.10
May 963.50 dn 0.30
Jul 917.60 dn 3.00
Spread trade prices are in Canadian dollars and the volume represents the number of spreads:
Months Prices Volume Jan/Mar 35.00 over to 28.50 over 3,897 Jan/May 75.90 over to 67.00 over 560 Jan/Jul 121.70 over to 113.50 over 85 Jan/Nov 231.70 over to 230.80 over 2 Mar/May 44.80 over to 37.10 over 1,342 Mar/Jul 90.70 over to 81.90 over 14 Mar/Nov 196.40 over 5 May/Jul 48.70 over to 43.20 over 509 May/Nov 158.50 over 1 Jul/Nov 119.80 over to 107.10 over 156 Nov/Jan 2.20 over 1
Source: Commodity News Service Canada (Phil Franz-Warkentin,
(END) Dow Jones Newswires
11-26-21 1541ET
