WINNIPEG--The ICE Futures canola market was mixed at Wednesday's close after trading both sides of unchanged in choppy activity.
Losses in Chicago soyoil accounted for some spillover selling pressure in the market, with European rapeseed also down on the day. However, Malaysian palm oil was higher and the Canadian dollar slightly weaker, which provided support.
Mixed forecasts out of South America kept a cautious tone in the world oilseed markets as persistent drought cuts into soybean production prospects in Argentina.
Canola remained stuck in a broad sideways trading range from a chart perspective. The most-active March contract settled between its 50- and 100-day moving averages.
About 36,614 canola contracts traded Wednesday, which compares with Tuesday when 35,613 contracts changed hands.
Spreading accounted for 22,194 of the contracts traded.
Settlement prices are in Canadian dollars per metric ton.
Canola
Months Prices Change
Jan 875.20 dn 1.10 Mar 860.70 up 2.20 May 854.20 dn 0.30 Jul 849.80 dn 2.00
Spread trade prices are in Canadian dollars and the volume represents the number of spreads:
Months Prices Volume
Jan/Mar 18.00 over to 13.50 over 3,449
Jan/May 23.70 over to 19.40 over 213 Jan/Jul 28.10 over to 24.00 over 201
Mar/May 7.00 over to 3.30 over 3,737
Mar/Jul 10.90 over to 8.10 over 372 Mar/Nov 37.30 over to 32.40 over 483
May/Jul 5.10 over to 2.70 over 1,671
May/Nov 31.20 over to 28.70 over 334 Jul/Nov 27.70 over to 24.30 over 637
Source: Commodity News Service Canada, news@marketsfarm.com
(END) Dow Jones Newswires
12-14-22 1545ET
