WINNIPEG, Manitoba--The ICE Futures canola market continued its downturn on Wednesday, but losses were limited by rising comparable oils and a weaker Canadian dollar.
Chicago soyoil, European rapeseed and Malaysian palm oil closed in positive territory. Meanwhile, crude oil was up more than US$2 per barrel after protests shut down Libya's Sharara oil field.
At mid-afternoon, the Canadian dollar lost three-tenths of a United States cent compared to Tuesday's close.
There were 27,269 canola contracts traded on Wednesday, which compares with Tuesday when 26,797 contracts changed hands.
Spreading accounted for 16,558 of the contracts traded.
Settlement prices are in Canadian dollars per metric tonne.
Price Change Mar 641.90 dn 1.20 May 649.80 dn 1.80 Jul 656.00 dn 2.00 Nov 655.50 dn 0.60
Spread trade prices are in Canadian dollars and the volume represents the number of spreads:
Months Prices Volume Mar/May 7.50 under to 8.50 under 4,250 Mar/Jul 13.80 under to 14.90 under 685 Mar/Nov 12.00 under to 13.50 under 7 May/Jul 5.80 under to 6.70 under 1,402 May/Nov 4.50 under to 6.00 under 26 Jul/Nov 1.80 over to 0.30 over 1,909
Source: Commodity News Service Canada, news@marketsfarm.com
(END) Dow Jones Newswires
01-03-24 1523ET