WINNIPEG, Manitoba--The ICE Futures canola market ended Wednesday mostly in the red despite being on track to make gains earlier in the day.

Chicago soyoil, European rapeseed and Malaysian palm oil were all higher. However, crude oil lost approximately two U.S. dollars per barrel due to economic concerns, which helped to turn canola's gains into losses.

At mid-afternoon, the Canadian dollar was down two-tenths of a U.S. cent compared to Tuesday's close.

The U.S. Department of Agriculture will release its monthly World Agricultural Supply/Demand Estimates on Thursday at 11 a.m. Central.

There were 34,458 canola contracts traded on Wednesday, which compares with Tuesday when 18,782 contracts changed hands. Spreading accounted for 27,800 of the contracts traded. Settlement prices are in Canadian dollars per metric ton. 


 
Canola      Price           Change 
 Jan        699.30          dn 1.30 
 Mar        707.00          dn 1.40 
 May        712.80          dn 0.10 
 Jul        717.50          up 0.60 
 
Spread trade prices are in Canadian dollars and the volume represents the number of spreads: 
 
Nov/Jan         19.00 under                        14 
Jan/Mar          7.10 under to 8.50 under       8,353 
Jan/May         12.50 under to 14.20 under      1,797 
Jan/Jul         16.30 under to 19.00 under          9 
Mar/May          4.40 under to 6.20 under       2,622 
Mar/Jul          9.30 under to 11.00 under        265 
May/Jul          4.00 under to 5.00 under         598 
May/Nov          8.50 over to 6.20 over             9 
Jul/Nov         13.60 over to 10.20 over          221 
Nov/Jan          2.00 under                        12

Source: Commodity News Service Canada, news@marketsfarm.com


(END) Dow Jones Newswires

11-08-23 1517ET