"ICE Review: Canola Turns Higher With Outside Markets" at 3:32 p.m. ET contained an incorrect price table from the source. The correct version follows:
WINNIPEG, Manitoba--The ICE Futures canola market recovered from early losses to post solid gains on Monday, as strength in outside markets provided spillover support.
Crude oil climbed to its highest levels of the past month, with Chicago soyoil and Malaysian palm oil also higher on the day.
March canola tested its 20-day moving average, which brought in some additional speculative buying and contributed to the gains.
Fund traders were holding a record large short position in canola as of Jan. 16, and could be looking to book profits and buy back some of those shorts.
There were an estimated 40,207 contracts traded on Monday, which compares with Friday when 41,083 contracts traded.
Spreading accounted for 26,370 of the contracts traded.
Settlement prices are in Canadian dollars per metric tonne.
Canola Price Change Mar 636.30 up 8.00 May 641.20 up 6.30 Jul 645.10 up 5.70 Nov 641.70 up 5.50
Spread trade prices are in Canadian dollars and the volume represents the number of spreads:
Months Prices Volume Mar/May 4.70 under to 6.60 under 10,485 Mar/Jul 8.50 under to 10.90 under 94 Mar/Nov 5.20 under to 7.70 under 393 May/Jul 3.50 under to 4.90 under 1,518 May/Nov 0.40 under to 0.70 under 5 Jul/Nov 3.90 over to 1.90 over 633 Nov/Jan 4.60 under to 5.00 under 33 Jan/Mar 0.00 under to 2.90 under 14 Mar/May 1.50 under to 4.30 under 10
Source: Commodity News Service Canada, news@marketsfarm.com
(END) Dow Jones Newswires
01-22-24 1609ET