Weather a key factor for futures Monday

Futures didn’t see big moves Monday, but spring wheat and canola sold off a few cents, making it a generally down day for western Canadian farmers.

However, American winter wheat contracts rose a few cents and soybeans closed flat on the day.

Weather around the world continues to be the key focus of traders. Reports of significant rainfall in South America delaying corn planting and reports of no snow cover in many winter wheat areas all went into the analytical hopper over the weekend.

Wet weather in north central Brazil is fouling truck traffic to ports on the Amazon River.

A risk premium appears to be a factor in most crop prices right now due to the odd weather of this winter, which is making crop impact hard to assess.

A port strike in Argentina provided more fodder for chatter.

Analysts are busily anticipating the coming U.S. Department of Agriculture World Agricultural Supply and Demand Estimates report due Thursday, and traders will be adjusting positions.

Many traders and analysts are bearish soybeans on the fundamentals, yet soybean prices have been remarkably firm.

 

Light crude oil nearby futures in New York were down 13 cents to US$53.20 per barrel.

In the afternoon, the Canadian dollar was trading around US74.55 cents, down from 74.60 cents the previous trading day. The U.S. dollar was C$1.3414.

 

Winnipeg ICE Futures Canada dollars per tonne

Canola May 2017   531.90   -0.70   -0.13%

Canola Jul 2017   533.40   -0.90   -0.17%

Canola Nov 2017   511.30   -1.00   -0.20%

Canola Jan 2018   517.00   +0.60   +0.12%

Canola Mar 2018   520.20   +1.30   +0.25%

 

Milling Wheat May 2017   235.00   -3.00   -1.26%

Milling Wheat Jul 2017   238.00   -2.00   -0.83%

Milling Wheat Oct 2017   230.00   -1.00   -0.43%

 

Durum Wheat May 2017   282.00   unch   0.00%

Durum Wheat Jul 2017   281.00   unch   0.00%

Durum Wheat Oct 2017   268.00   unch   0.00%

 

Barley May 2017   137.00   unch   0.00%

Barley Jul 2017   138.00   unch   0.00%

Barley Oct 2017   138.00   unch   0.00%

 

American crop prices in cents US/bushel, soybean meal in $US/short ton, soy oil in cents US/pound

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Chicago

Soybeans Mar 2017   1026.75   +1.25   +0.12%

Soybeans May 2017   1037.25   +0.25   +0.02%

Soybeans Jul 2017   1046.00   +0.75   +0.07%

Soybeans Aug 2017   1046.00   +0.25   +0.02%

Soybeans Sep 2017   1031.75   unch   0.00%

Soybeans Nov 2017   1021.75   +0.50   +0.05%

 

Soybean Meal Mar 2017   329.20   +0.80   +0.24%

Soybean Meal May 2017   333.70   +1.10   +0.33%

Soybean Meal Jul 2017   336.70   +1.20   +0.36%

 

Soybean Oil Mar 2017   34.02   -0.12   -0.35%

Soybean Oil May 2017   34.27   -0.17   -0.49%

Soybean Oil Jul 2017   34.54   -0.15   -0.43%

 

Corn Mar 2017   372.75   -1.75   -0.47%

Corn May 2017   378.50   -2.25   -0.59%

Corn Jul 2017   385.50   -1.50   -0.39%

Corn Sep 2017   391.50   -1.50   -0.38%

Corn Dec 2017   398.00   -1.00   -0.25%

 

Oats Mar 2017   264.00   +3.00   +1.15%

Oats May 2017   245.00   +2.00   +0.82%

Oats Jul 2017   239.50   unch   0.00%

Oats Sep 2017   233.50   +0.75   +0.32%

Oats Dec 2017   235.25   unch   0.00%

 

Wheat Mar 2017   438.25   +4.00   +0.92%

Wheat May 2017   458.50   +6.00   +1.33%

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Wheat Jul 2017   473.00   +5.50   +1.18%

Wheat Sep 2017   486.75   +6.00   +1.25%

Wheat Dec 2017   504.25   +5.25   +1.05%

 

Minneapolis

Spring Wheat Mar 2017   531.25   -6.50   -1.21%

Spring Wheat May 2017   542.25   -4.75   -0.87%

Spring Wheat Jul 2017   550.00   -3.75   -0.68%

Spring Wheat Sep 2017   557.75   -2.00   -0.36%

Spring Wheat Dec 2017   568.75   -2.00   -0.35%

 

Kansas City

Hard Red Wheat Mar 2017   464.25   +1.75   +0.38%

Hard Red Wheat May 2017   474.00   +3.25   +0.69%

Hard Red Wheat Jul 2017   485.75   +3.25   +0.67%

Hard Red Wheat Sep 2017   498.75   +3.00   +0.61%

Hard Red Wheat Dec 2017   517.50   +2.75   +0.53%

 

Chicago livestock futures in US¢/pound (rounded to two decimal places)

Live Cattle (P) Apr 2017   115.55   -0.47   -0.41%

Live Cattle (P) Jun 2017   106.28   -0.50   -0.47%

Live Cattle (P) Aug 2017   102.08   -0.17   -0.17%

 

Feeder Cattle (P) Mar 2017   124.08   +0.11   +0.09%

Feeder Cattle (P) Apr 2017   122.68   -0.17   -0.14%

Feeder Cattle (P) May 2017   122.20   -0.10   -0.08%

 

Lean Hogs (P) Apr 2017   67.18   +0.33   +0.49%

Lean Hogs (P) May 2017   73.05   +0.55   +0.76%

Lean Hogs (P) Jun 2017   76.75   +0.33   +0.43%

 

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