Glacier FarmMedia – Canola futures on the Intercontinental Exchange ended lower on Friday after a day of choppy trading.
An analyst said there were numerous factors affecting canola prices, including trade and export volumes, the conflict in the Middle East and speculation over biofuel blends in the United States.
Crude oil prices made more gains after Iran attacked an oil refinery in Kuwait earlier today. Chicago soyoil and European rapeseed were higher. There was no trading for Malaysian palm oil due to the Eid al-Fitr holiday.
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At mid-afternoon, the Canadian dollar was up one-tenth of a U.S. cent compared to Thursday’s close.
There were 52,492 canola contracts traded on Friday, compared to Thursday when 84,146 contracts changed hands. Spreads accounted for 32,462 contracts in today’s trade.
Settlement prices are in Canadian dollars per metric tonne.
May 726.50 dn 1.80
Jul 739.40 dn 1.70
Nov 731.80 dn 2.00
Jan 735.50 dn 2.40
Spread trade prices are in Canadian dollars:
May/Jul 12.40 under to 13.00 under 8,444
May/Nov 2.70 under to 6.30 under 339
May/Jan 6.60 under to 9.60 under 2
Jul/Nov 10.00 over to 6.40 over 5,535
Jul/Jan 5.80 over to 3.00 over 39
Nov/Jan 3.50 under to 4.20 under 1,636
Jan/Mar 2.10 under to 2.80 under 47
Jan/Jul 3.10 under to 3.60 under 131
Mar/May 0.70 under to 1.00 under 23
May/Jul 0.20 under to 0.40 under 15
Jul/Nov 25.10 over to 23.60 over 20
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