WINNIPEG -- The ICE Futures canola market made gains coming out of the Easter weekend, with positive sentiment in vegetable oils.

Chicago soyoil and Malaysian palm oil were higher and crude oil was on the rise due to higher-than-expected demand. There was no trading for European rapeseed today.

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

The Canadian Grain Commission reported on Thursday that 244,700 tons of canola were exported during the week ended March 24, more than double from the previous week. Cumulative exports this marketing year total 4.031 million tons, down from 5.964 million from one year ago.

High temperatures in the Prairies this week will rise up to 20 degrees Celsius in Alberta and 15 degrees in Saskatchewan and Manitoba with little precipitation.

There were 29,704 canola contracts traded on Monday, which compares with Thursday when 21,750 contracts changed hands. Spreading accounted for 16,790 of the contracts traded. 


 
Settlement prices are in Canadian dollars per metric ton. 
 
Canola 
 
 
Price 
 
 
 
Change 
 May 
 
 
634.20 
 
 
 
up 7.80 
 Jul 
 
 
642.80 
 
 
 
up 6.70 
 Nov 
 
 
650.80 
 
 
 
up 5.70 
 Jan 
 
 
657.40 
 
 
 
up 5.20 
 
Spread trade prices are in Canadian dollars and the volume represents the number of spreads: 
 
May/Jul 
 
 
 8.40 under to 9.80 under 
 
 
6,330 
May/Nov 
 
 
16.10 under to 18.30 under 
 
 
   90 
May/Jul 
 
 
30.30 under 
 
 
 
 
 
    1 
Jul/Nov 
 
 
 7.50 under to 9.00 under 
 
 
1,873 
Nov/Jan 
 
 
 6.60 under to 7.00 under 
 
 
   99 
Jan/May 
 
 
 1.50 under 
 
 
 
 
 
    1 
May/Jul 
 
 
 3.20 under 
 
 
 
 
 
    1

Source: Commodity News Service Canada, news@marketsfarm.com


(END) Dow Jones Newswires

04-01-24 1519ET