ICE Review : Canola Sheds Gains as Crude, Other Oils Pull Back

WINNIPEG, Manitoba--The ICE Futures canola market took a step back on Thursday, losing some of its gains from Wednesday.

Chicago soyoil, Malaysian palm oil and European rapeseed were all lower. Crude oil continued to pull back despite tightened United States stockpiles.

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

There were 61,601 canola contracts traded on Thursday, which compares with Wednesday when 69,761 contracts changed hands. Spreading accounted for 33,598 of the contracts traded.

 
Settlement prices are in Canadian dollars per metric ton. 
 
Canola      Price           Change 
 May        642.90          dn 5.70 
 Jul        652.40          dn 4.80 
 Nov        660.50          dn 3.00 
 Jan        668.30          dn 2.70 
 
Spread trade prices are in Canadian dollars and the volume represents the number of spreads: 
 
May/Jul          7.90 under to 9.80 under           9,757 
May/Nov         14.00 under to 18.10 under            308 
May/Mar         26.70 under to 28.30 under              4 
Jul/Nov          5.70 under to 8.40 under           6,114 
Nov/Jan          7.10 under to 7.90 under             536 
Jan/Mar          2.60 under to 3.40 under              60 
Mar/May          2.40 over to 1.50 over                12 
May/Jul          6.40 over                              8 
 

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

(END) Dow Jones Newswires

03-21-24 1511ET