WINNIPEG, Manitoba--Intercontinental Exchange canola futures gave up their earlier gains to finish narrowly mixed on Monday. There were small losses in the old-crop months and slight upticks in the new-crop positions.
Pressure on canola came from declines in Chicago soyoil, European rapeseed and Malaysian palm oil.
Meanwhile, support spilled over from gains in Chicago soybeans and soymeal. Modest advances in global crude-oil prices helped the upswing in the vegetable oils.
Canola crush margins remained very wide, enticing interest from buyers.
However, prices for the Canadian oilseed continued to be rangebound.
The Canadian dollar was relatively steady at mid-afternoon Monday at 73.44 U.S. cents, compared to Friday's close of 73.48.
There were 16,852 contracts traded Monday, which compares with Friday when 18,344 contracts changed hands.
Spreading accounted for 9,052 contracts traded.
Settlement prices are in Canadian dollars per metric ton.
Price Change
Canola
May 821.80 dn 0.70 Jul 816.80 dn 1.10 Nov 791.50 up 0.20 Jan 796.20 up 0.40
Spread trade prices are Canadian dollars and the volume represents the number of spreads:
Months Prices Volume
Mar/May 30.00 over 10
May/Jul 5.70 over to 4.20 over 2,551
May/Nov 31.60 over to 29.30 over 95
Jul/Nov 27.30 over to 24.20 over 1,529
Nov/Jan 4.20 under to 5.00 under 337
Jan/Mar 3.90 under to 4.40 under 4
Source: Commodity News Service Canada, news@marketsfarm.com
(END) Dow Jones Newswires
03-06-23 1543ET
