Canola futures steady, market watches Brazil weather

It was another day of mostly modest moves in crop futures markets.

November canola closed up just 30 cents a tonne.

It got a bit of support from rising soybean futures, which were up on bargain buying after a few days of declines.

Also the dryness in Brazil continues to be talked about, but it did get rain in southern areas in recent days.

Industry group Abiove estimated Brazil’s 2017-18 soybean crop at 108.5 million tonnes, down from its forecast last month of 113.8 million tonnes, Reuters reported.

Corn remained under pressure from the advancing U.S. harvest and reports of better than expected yields.

The Midwest harvest did stall out today though with rain. More showers are expected in the Midwest over the coming days and they will slow progress.

Those same showers are improving soil moisture in the central and southern plains, which should benefit the U.S. winter wheat crop.

CANADIAN WEATHER

The seven day outlook for the Canadian Prairies is mostly dry.

Temperatures should rise through the rest of the week but start to cool off again on the weekend.

OUTSIDE MARKETS

Light crude oil nearby futures in New York were down 44 cents at US$49.90 per barrel.

In the afternoon, the Canadian dollar was trading around US80.14 cents, little changed from 80.09 cents the previous trading day. The U.S. dollar was C$1.2478.

The Toronto Stock Exchange composite fell 7.51 points or 0.05 percent to 15,721.00.

The Dow Jones Industrial Average rose 19.97 points, or 0.09 percent, to end at 22,661.64, the S&P 500 gained 3.16 points, or 0.12 percent, to 2,537.74 and the Nasdaq Composite added 2.91 points, or 0.04 percent, to 6,534.63.

 

Winnipeg ICE Futures Canada dollars per tonne

Canola Nov 17   493.40s   +0.30   +0.06%

Canola Jan 18   499.70s   +0.30   +0.06%

Canola Mar 18   505.20s   +0.20   +0.04%

Canola May 18   507.80s   +0.30   +0.06%

Canola Jul 18   508.80s   +0.60   +0.12%

 

Milling Wheat Oct 17   227.00s   unch   unch

Milling Wheat Dec 17   229.00s   unch   unch

Milling Wheat Mar 18   234.00s   -1.00   -0.43%

 

Durum Wheat Oct 17   279.00s   -1.00   -0.36%

Durum Wheat Dec 17   281.00s   unch   unch

Durum Wheat Mar 18   286.00s   +1.00   +0.35%

 

Barley Oct 17   145.00s   unch   unch

Barley Dec 17   148.00s   unch   unch

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Barley Mar 18   151.00s   unch unch

 

American crop prices in cents US/bushel, soybean meal in $US/short ton, soy oil in cents US/pound. Prices are displayed with fractions (2/8, 4/8, and 6/8) instead of decimals. -2 equals .25, -4 equals .50, -6 equals .75. The “s” means it is the settlement.

 

Chicago

Soybeans Nov 17   958-2s   +3-0   +0.31%

Soybeans Jan 18   968-6s   +2-6   +0.28%

Soybeans Mar 18   978-2s   +2-6   +0.28%

Soybeans May 18   987-2s   +2-6   +0.28%

Soybeans Jul 18   994-6s   +3-0   +0.30%

 

Soybean Meal Oct 17   306.9s   -0.4   -0.13%

Soybean Meal Dec 17   311.0s   -0.5   -0.16%

Soybean Meal Jan 18   313.1s   -0.4   -0.13%

 

Soybean Oil Oct 17   32.99s   +0.48   +1.48%

Soybean Oil Dec 17   33.23s   +0.44   +1.34%

Soybean Oil Jan 18   33.41s   +0.48   +1.46%

 

Corn Dec 17   348-2s   -1-2   -0.36%

Corn Mar 18   361-2s   -1-0   -0.28%

Corn May 18   370-2s   -1-0   -0.27%

Corn Jul 18   378-2s   -0-6   -0.20%

Corn Sep 18   385-4s   -0-6   -0.19%

 

Oats Dec 17   246-2s   -5-0   -1.99%

Oats Mar 18   250-2s   -5-2   -2.05%

Oats May 18 249-0s   -5-4   -2.16%

Oats Jul 18   248-0s   -4-2   -1.68%

Oats Sep 18   248-0s   -4-2   -1.68%

 

Wheat Dec 17   442-0s   -5-6   -1.28%

Wheat Mar 18   460-4s   -5-0   -1.07%

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Wheat May 18   474-2s   -4-0   -0.84%

Wheat Jul 18   486-2s   -3-6   -0.77%

Wheat Sep 18   501-4s   -3-6   -0.74%

 

Minneapolis

Spring Wheat Dec 17   610-0s   -2-2   -0.37%

Spring Wheat Mar 18   623-4s   -2-4   -0.40%

Spring Wheat May 18   630-0s   -2-2   -0.36%

Spring Wheat Jul 18   633-6s   -0-6   -0.12%

Spring Wheat Sep 18   635-0s -0-2   -0.04%

 

Kansas City

Hard Red Wheat Dec 17   436-0s   -5-6   -1.30%

Hard Red Wheat Mar 18   453-6s   -5-4   -1.20%

Hard Red Wheat May 18   467-6s   -5-2   -1.11%

Hard Red Wheat Jul 18   485-2s   -5-0   -1.02%

Hard Red Wheat Sep 18   503-6s   -5-0   -0.98%

 

Chicago livestock futures in US¢/pound, Pit trade

Live Cattle Oct 17   109.075s   -0.025   -0.02%

Live Cattle Dec 17   114.925s   +0.025   +0.02%

Live Cattle Feb 18   118.925s   +0.400   +0.34%

 

Feeder Cattle Oct 17   152.100s   -0.325   -0.21%

Feeder Cattle Nov 17   153.500s   -0.800   -0.52%

Feeder Cattle Jan 18   151.025s   -0.975   -0.64%

 

Lean Hogs Oct 17   60.325s   +0.450   +0.75%

Lean Hogs Dec 17   61.900s   -0.175   -0.28%

Lean Hogs Feb 18   67.300s   -0.050   -0.07%

 

 

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