Canadian canola futures finished mostly higher on Thursday, in choppy trade ahead of the weekend, but notched a slight weekly loss. Old-crop May and July months rose, and are trading at large premiums to new-crop months due to tight supplies and projections for a record-large canola acreage. ICE Canada and US grain markets closed for Good Friday. Modest crusher buying seen.
May canola gained 90 cents at $621.60 per tonne on volume of 12,383 contracts. Finished with 0.1 percent weekly loss, their second in three weeks. July canola added 50 cents to $617.10 per tonne on volume of 9,422 contracts. Back months slipped. May-July spread traded 6,828 times, settling at a May premium of $4.50. July-November spread widened to a July premium of $36.40, trading 1,882 times. Chicago May soyabeans added 14-1/2 US cents to US $14.34 per bushel on strong US exports and South American crop worries. May soyaoil gained 0.62 cent to 56.64 US cents per lb. MATIF May rapeseed gained 0.8 percent.
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