ICE Review : Canola Futures Close Mixed

WINNIPEG, Manitoba -- The ICE Futures canola market was mixed on Monday. The nearby January contract managed to hold onto a small gain, while the more deferred months were all lower.

Malaysian palm oil, European rapeseed and Chicago soybean futures were all weaker on the day, accounting for some spillover selling pressure in the Canadian oilseed. However, soyoil was higher, which tempered the losses in canola to some extent.

Chart-based positioning accounted for some of the activity, as participants adjust themselves ahead of the holidays.

About 36,939 canola contracts traded on Monday, which compares with Friday when 41,336 contracts changed hands.

Spreading accounted for 27,222 of the contracts traded. Settlement prices are in Canadian dollars per metric ton.

 
   Price                  Change 
   Jan 872.70             up 0.30 
   Mar 854.30             dn 6.60 
   May 849.30             dn 9.60 
   Jul 846.60             dn 12.30 
 

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

 
   Months         Prices                                   Volume 
   Jan/Mar         19.50 over to 10.50 over                7,920 
   Jan/May         19.30 over                                  1 
   Jan/Jul         23.90 over to 19.80 over                  228 
   Mar/May          6.00 over to 1.60 over                 2,911 
   Mar/Jul          9.20 over to 3.20 over                   284 
   Mar/Nov         35.50 over to 31.80 over                   88 
   May/Jul          3.80 over to 0.00 under                1,541 
   May/Nov         37.00 over to 29.50 over                  253 
   Jul/Nov         33.50 over to 27.00 over                  385 
 

Source: Commodity News Service Canada, [e-mail]

(END) Dow Jones Newswires

12-12-22 1550ET