ICE Review: Canola Ends Lower After Choppy Day

WINNIPEG, Manitoba--The ICE Futures canola market settled with small losses on Tuesday after posting gains for most of the session.

Hot and dry Prairie forecasts provided underlying support, but those weather concerns have been priced into the market for some time and canola ran into resistance.

Production is generally expected to be down sharply on the year, but the extent of the reduction remains to be seen which was keeping some caution in the market.

Gains in Chicago Board of Trade soybeans and a softer tone in the Canadian dollar were also supportive for canola.

However, soybeans finished well off their session highs and soyoil was weaker.

About 14,296 canola contracts traded on Tuesday, which compares with Monday when 11,496 contracts changed hands.

Spreading accounted for 6,386 of the contracts traded.

Settlement prices are in Canadian dollars per metric tonne.

             Price     Change


   Nov       894.40    dn 2.00
   Jan       879.50    dn 1.40
   Mar       862.10    dn 0.70
   May       842.00    dn 1.30

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

   Months             Prices                Volume


   Nov/Jan    17.00 over to 13.70 over       679
   Nov/Mar    34.00 over to 32.90 over       249
   Nov/May    53.40 over                       1
   Nov/Jul    80.00 over                       5
   Nov/Nov    222.60 over to 220.00 over      21
   Jan/Mar    18.40 over to 16.90 over     1,098
   Jan/May    38.40 over to 38.10 over         2
   Mar/May    21.80 over to 19.70 over       850
   May/Jul    26.30 over to 24.30 over       254
   Jul/Nov    144.00 over to 136.80 over      34

Source: Commodity News Service Canada

Write to Phil Franz-Warkentin at

  (END) Dow Jones Newswires
  07-27-21 1546ET
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