ICE Canola Futures: Nearby Nov Canola Rallies, Underpinning Deferreds

WINNIPEG, Manitoba--The ICE Futures canola market was mostly higher at midday Thursday, with a sharp rally in the nearby November contract ahead of its expiry and a steadier tone in the more actively traded deferred months.

The speculative rally in the November contract was exaggerated as open interest dwindles in the front month front month ahead of first notices on Friday,

The rally in the front month did provide some spillover support for the other contracts, but bearish activity in outside markets kept any gains in check.

Chicago Board of Trade soybeans and soyoil were both softer at midday, while the Canadian dollar held relatively steady.

About 15,500 canola contracts traded as of 11:44 EDT.

Prices in Canadian dollars per metric ton at 11:44 EDT:

                          Price     Change
Canola            Nov   1,025.00    up 41.70
                  Jan     960.70    up  0.10
                  Mar     939.00    up  0.50
                  May     909.20    up  0.50

Source: Commodity News Service Canada,

  (END) Dow Jones Newswires
  10-28-21 1225ET
  Copyright (c) 2021 Dow Jones & Company, Inc.

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