ICE Review: Canola Slips to End the Week

WINNIPEG, Manitoba--The ICE Futures canola market was lower on Friday, despite some positive sentiment in comparable oils.

European rapeseed was mostly higher, Malaysian palm oil was mixed and Chicago soyoil and crude oil saw minimal gains. Today was the last day for May trading options.

The Canadian dollar was up more than one-tenth of a U.S. cent compared to Thursday's close.

The Canadian Grain Commission (CGC) reported 180,600 tonnes of canola were exported during the week ended April 21, up from 128,300 the week before. So far this marketing year, exports totaled 4.545 million tons compared to 6.582 million last year.

There were 29,857 canola contracts traded on Friday, which compares with Thursday when 52,182 contracts changed hands. Spreading accounted for 13,746 of the contracts traded. Settlement prices are in Canadian dollars per metric ton.

 
Canola 

     Price   Change 
May  617.70  dn 5.10 
Jul  634.40  dn 2.50 
Nov  651.50  dn 2.20 
Jan  659.50  dn 2.40 
 

Spread trade prices are in Canadian dollars and the volume represents the number of spreads:

 
Contracts  Prices                        Volume 
 
May/Jul    12.90 under to 17.90 under    1,955 
May/Nov    29.60 under to 33.80 under       14 
May/Jan    37.20 under to 42.50 under       47 
Jul/Nov    15.50 under to 17.30 under    4,278 
Jul/Jan    23.90 under to 25.00 under        9 
Nov/Jan    7.30 under to 8.10 under        520 
Jan/Mar    2.50 under to 3.50 under         46 
Mar/May    1.40 over to 1.10 over            2 
May/Jul    6.00 over to 4.50 over            2 
  

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

(END) Dow Jones Newswires

April 26, 2024 15:35 ET (19:35 GMT)

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