ICE Review: Canola In the Red Again
WINNIPEG, Manitoba-- The ICE Futures canola market took another step back on Thursday to go along with mixed activity in comparable oils.
Malaysian palm oil was down with European rapeseed mostly lower, while Chicago soyoil was higher. There were increases in crude oil as a draw in domestic inventories offset a slowdown in the U.S. economy.
At mid-afternoon, the Canadian dollar was up one-quarter of a U.S. cent compared to Wednesday's close.
There were 52,182 canola contracts traded on Thursday, which compares with Wednesday when 46,880 contracts changed hands. Spreading accounted for 30,332 of the contracts traded.
Settlement prices are in Canadian dollars per metric tonne. Contract Price Change May 622.80 dn 3.90 Jul 636.90 dn 2.50 Nov 653.70 dn 1.50 Jan 661.90 dn 1.20 Spread trade prices are in Canadian dollars and the volume represents the number of spreads: May/Jul 9.00 under to 14.50 under 2,655 May/Nov 26.90 under to 30.30 under 32 May/Jan 35.60 under to 39.30 under 90 Jul/Nov 14.00 under to 17.00 under 10,458 Jul/Jan 22.80 under to 25.30 under 49 Nov/Jan 7.30 under to 8.50 under 1,719 Nov/Mar 11.60 under to 11.80 under 2 Jan/Mar 3.00 under to 3.80 under 9 Mar/May 1.30 over 2
Source: Commodity News Service Canada, news@marketsfarm.com
(END) Dow Jones Newswires
April 25, 2024 15:35 ET (19:35 GMT)
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