ICE Review : Modes Gains for Canola

WINNIPEG, Manitoba--Intercontinental Exchange canola futures closed higher on Thursday, riding support from other vegetable oils.

Along with increases in European rapeseed, the Chicago soy complex turned around to finish on the upswing. However, Malaysian palm oil was still to the downside. Declines in crude oil put a cap on the veg oils.

The United States Department of Agriculture is set to release its monthly supply and demand estimates on Friday at 11 a.m.

CDT. Pre-report positioning was a feature in today's trading.

Tight canola supplies and concerns over the developing crop underpinned the Canadian oilseed. Although there's rain in the Prairie forecast, the threat of increased dry conditions remains.

The Canadian dollar edged up on Thursday afternoon with the loonie at 73.13 U.S. cents compared to Wednesday's close of 73.03.

There were 33,298 contracts traded on Thursday, compared to 49,889 on Wednesday. Spreading accounted for 14,212 contracts traded.

Prices are in Canadian dollars per metric tonne:

 
           Price      Change 
Nov       684.10     up 4.10 
Jan       693.60     up 4.40 
Mar       700.40     up 4.60 
May       706.10     up 4.70 

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

 
Months    Prices                            Volume 
Nov/Jan   7.90 under to 8.60 under           4,732 
Nov/Mar   14.90 under to 15.30 under           276 
Jan/Mar   6.40 under to 7.00 under           1,390 
Mar/May   5.40 under to 5.90 under             578 
May/Jul   4.30 under to 4.50 under             126 
Jul/Nov   33.40 over to 33.20 over               4 
 

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

(END) Dow Jones Newswires

07-10-25 1521ET