WINNIPEG, Manitoba--The ICE Futures canola market posted solid gains on Wednesday, as excess moisture across parts of the Canadian Prairies flooded fields. The precipitation will likely lead to some lost acres.

Western Manitoba and eastern Saskatchewan received the brunt of the latest thunderstorm activity, with official Environment Canada rainfall totals topping 250 millimetres in Stonewall, Man. Winnipeg received 117 mm overnight, and many other areas also exceeded 100 mm after seeing heavy rains the previous weekend.

Gains in outside markets provided spillover support, with crude oil, Chicago soyoil, European rapeseed and Malaysian palm oil all higher.

The Canadian dollar was relatively steady, after the Bank of Canada left its key overnight interest rate unchanged.

There were 62,108 contracts traded on Wednesday, which compares with Tuesday when 72,998 contracts changed hands.

Spreading accounted for 44,628 of the contracts traded.

Settlement prices in Canadian dollars per metric tonne. 


 
           Price      Change 
Jul       766.40     up 6.30 
Nov       774.50     up 6.70 
Jan       783.20     up 6.40 
Mar       789.90     up 6.20

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


 
Months    Prices                            Volume 
Jul/Nov   7.60 under to 10.00 under         17,535 
Jul/Jan   16.40 under to 18.80 under           416 
Jul/Mar   23.50 under to 23.60 under            25 
Nov/Jan   8.40 under to 9.30 under           2,984 
Nov/Mar   15.40 under to 16.20 under           140 
Nov/May   18.80 under to 19.70 under             6 
Jan/Mar   6.50 under to 7.40 under             988 
Mar/May   3.10 under to 3.90 under             125 
May/Jul   2.50 over to 1.30 over                69 
Jul/Nov   57.40 over to 53.90 over              26

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


(END) Dow Jones Newswires

06-10-26 1611ET