WINNIPEG, Manitoba--The ICE Futures canola market was stronger Friday, with chart-based positioning featured as traders adjusted positions ahead of the holiday weekend.

Gains in Chicago soybeans and soyoil accounted for some spillover support in canola, and European rapeseed and Malaysian palm oil futures were also higher.

Hot and dry Prairie weather contributed to the gains. Most of the canola crop is still thought to be in relatively good shape, according to reports.

The canola market will be closed Monday for Terry Fox Day, while grains and oilseeds in the U.S. will trade their usual hours.

About 19,427 canola contracts traded Friday, which compares with Thursday when 26,609 contracts changed hands.

Spreading accounted for 9,644 of the contracts traded.


Settlement prices are in Canadian dollars per metric ton.


Canola

Contracts Prices Change 

   Nov       797.50 up 16.60 
   Jan       799.90 up 15.70 
   Mar       799.60 up 14.00 
   May       796.60 up 13.10

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

 
   Contracts Prices                    Volume 
   Nov/Jan    2.00 under to 4.00 under 3,443 
   Nov/Mar    1.60 under to 5.50 under   163 
   Nov/May    1.20 over to 2.80 under     20 
   Nov/Jul    5.00 over to 3.00 over      10 
   Jan/Mar    0.80 over to 1.80 under    757 
   Jan/May    3.40 over to 0.90 over      25 
   Jan/Nov   47.00 over                    5 
   Mar/May    3.50 over to 2.40 over      93 
   May/Jul    6.00 over to 4.20 over     245 
   May/Nov   45.30 over                    2 
   Jul/Nov   41.90 over to 39.60 over     59

Source: MarketsFarm, news@marketsfarm.com


(END) Dow Jones Newswires

08-04-23 1549ET