ICE Close: Canola Ends Mixed as Spreading a Feature

Canola futures settled mixed on Wednesday, with gains in the front months and losses in the more deferred positions. Intermonth spreading was a feature as speculators were rolling positions out of the nearby May contract.

Losses in Chicago Board of Trade soyoil put some pressure on values, while a slightly softer tone in the Canadian dollar provided support.

Positioning ahead of Thursday's supply/demand report from the United States Department of Agriculture kept some caution in the grains and oilseeds. Ongoing uncertainty over the COVID-19 pandemic also remained a feature in the background.

May canola gained $1.80 to $462.30, July was up 20 cents at $468.10 and November was steady at $475.70.

Source: DePutter Publishing Ltd.

Information contained herein is believed to be accurate but is not guaranteed by the parties providing it. Syngenta, DePutter Publishing Ltd. and their information sources assume no responsibility or liability for any action taken as a result of any information or advice contained in these reports, and any action taken is solely at the liability and responsibility of the user.