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ICE Review: Nearby Months Finish Above C$1,000 per Metric Ton

01/28/2022 | 03:46pm EDT

WINNIPEG--Intercontinental Exchange canola futures were mostly higher Friday, backing away from much larger increases earlier in the session.

Significant upticks in global crude oil prices gave way to smaller increases, taking away a measure of support for edible oils. However, canola still benefitted from gains in the Chicago soy complex, Malaysian palm oil and European rapeseed.

A trader noted canola that was lagging behind other veg oils, needing to catch up.

The Canadian Grain Commission reported producer deliveries of canola for the week ended Jan. 23 were down 44.3% at 189,400 metric tons. Canola exports increased 66% at 124,800 metric tons, and domestic usage was up 37.1 per cent at 161,400 metric tons.

The Canadian dollar was weaker at mid-afternoon, with the loonie at 78.21 U.S. cents, compared with Thursday's close of 78.67.

There were 30,039 contracts traded Friday, which compares with Thursday, when 29,069 contracts changed hands. Spreading accounted for 15,672 contracts traded.


Settlement prices are in Canadian dollars per metric ton.

 
 
                  Price    Change 
Canola     Mar  1,017.60  up 10.50 
           May  1,000.40  up  1.40 
           Jul    973.50  dn  3.10 
           Nov    836.20  up  4.60 
 

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

 
      Months            Prices              Volume 
 
      Mar/May   19.30 over to   7.60 over    4,569 
      Mar/Jul   44.20 over to  29.90 over      150 
      Mar/Nov  182.90 over to 177.30 over       41 
      May/Jul   29.10 over to  21.10 over    2,156 
      Jul/Nov  149.10 over to 136.50 over      914 
      Nov/Jan    3.00 over to   1.20 over        6 
 
 

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


(END) Dow Jones Newswires

01-28-22 1546ET

Stocks mentioned in the article
ChangeLast1st jan.
AUSTRALIAN DOLLAR / CANADIAN DOLLAR (AUD/CAD) -0.23% 0.89445 Delayed Quote.-2.34%
BRITISH POUND / CANADIAN DOLLAR (GBP/CAD) 0.11% 1.58334 Delayed Quote.-7.41%
CANADIAN DOLLAR / JAPANESE YEN (CAD/JPY) -0.22% 100.076 Delayed Quote.9.88%
CANADIAN DOLLAR / SWISS FRANC (CAD/CHF) 0.03% 0.77692 Delayed Quote.7.44%
CRUDE PALM OIL -0.04% 1425.5 End-of-day quote.28.98%
EURO / CANADIAN DOLLAR (EUR/CAD) 0.44% 1.34745 Delayed Quote.-6.42%
INTERCONTINENTAL EXCHANGE, INC. 2.90% 98.27 Delayed Quote.-28.15%
LONDON BRENT OIL -2.30% 108.789 Delayed Quote.41.60%
NEW ZEALAND DOLLAR / CANADIAN DOLLAR (NZD/CAD) -0.03% 0.81151 Delayed Quote.-6.13%
S&P GSCI CRUDE OIL INDEX -0.80% 591.1979 Real-time Quote.44.44%
US DOLLAR / CANADIAN DOLLAR (USD/CAD) 0.19% 1.2928 Delayed Quote.2.11%
WTI -2.21% 107.271 Delayed Quote.44.13%
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