Canola maintains, soy loses

Despite soybean’s retreat, canola remained in positive territory. The bigger oilseed has remained in surplus as the Sino-American trade frictions wear on. Monday’s USDA crop condition report put half the American crop in good-to-excellent range, 35 percent in fair and 12 percent in poor-to-very-poor condition.

The American soybean crop has seen significant weather delays. USDA puts 40 percent in the blooming stage at the moment, while the five-year average is 66 percent and in 2018 it was over 75 percent at this point in the annual calendar.

Canola across Western Canada is also weather-delayed due to dry conditions at seeding and cold weather after the germination that had taken place in mid-May.

The ICE futures price for November settled at $447.80, up 80 cents per tonne. January was up $1.30 at $455.20, March up $1.10 at $462 and May $1.50 at $468.20. July 2020 contract ended the day at $473, up $1.30.

Wheat was flat on the day’s trading in Chicago and that translated into level prices back in the elevator bids on the Prairies.

The USDA rated American spring wheat condition Monday at 66 percent good to excellent and 20 percent fair, while four percent was rated poor. That was flat to a week ago’s crop condition report.

Corn improved slightly, with September trading on Chicago markets at US$4.25-50, up 3.25 cents per bushel.

Live and fed cattle were flat to up slightly, with October pit trades up 72 cents to 109.88  and feeders up three cents to $142.68. Lean hogs for October were up $2.60 to $81.80.

The Canadian dollar fell again today, down very slightly to 76.14 cents compared to its American cousin.

In Western Canadian elevator bids canola was up about 50 cents per tonne, in a range of $415 to $427 depending on the region.

Yellow peas were ranged from $219 to $246 outside Manitoba locations, where bids were $203 in the east and $208 in the west.

 

Name / Contract High Low Last Change Settlement
Canola Nov 2019 (updated 1:18PM(CST) on 7/23/2019) 448.70 445.90 447.80 0.80 447.80
Canola Jan 2020 (updated 1:18PM(CST) on 7/23/2019) 455.50 453.00 455.20 1.30 455.20
Canola Mar 2020 (updated 1:16PM(CST) on 7/23/2019) 462.40 459.90 462.00 1.10 462.00
Canola May 2020 (updated 1:14PM(CST) on 7/23/2019) 468.20 465.70 468.20 1.50 468.20
Canola Jul 2020 (updated 1:14PM(CST) on 7/23/2019) 473.00 470.60 473.00 1.30 473.00
Soybean Aug 2019 892.50 881.00 885.75 -2.50 885.25
Soybean Sep 2019 898.00 887.00 891.50 -2.50 891.00
Soybean Nov 2019 910.25 898.75 903.75 -2.00 903.25
Soybean Jan 2020 923.00 911.50 916.50 -2.00 916.25
Soybean Mar 2020 932.50 921.50 926.25 -2.00 926.25
Soybean May 2020 940.50 930.00 935.25 -1.75 937.00
Soybean Meal Aug 2019 309.90 306.00 306.40 -2.00 306.60
Soybean Meal Sep 2019 311.10 307.40 307.80 -1.90 308.10
Soybean Meal Oct 2019 312.70 309.00 309.40 -1.90 309.70
Soybean Oil Aug 2019 28.07 27.74 28.01 0.28 27.98
Soybean Oil Sep 2019 28.19 27.85 28.13 0.28 28.11
Soybean Oil Oct 2019 28.30 27.98 28.23 0.28 28.24
Corn Sep 2019 426.50 418.25 425.50 3.25 425.50
Corn Dec 2019 432.75 424.00 431.50 4.75 431.75
Corn Mar 2020 441.25 433.00 440.50 4.75 440.50
Corn May 2020 445.25 437.25 444.25 4.00 444.25
Corn Jul 2020 448.25 441.00 447.25 3.50 447.25
Oats Sep 2019 269.25 264.75 266.00 -0.75 266.00
Oats Dec 2019 269.00 265.00 266.25 -0.75 266.00
Oats Mar 2020 273.25 270.00 270.50 -0.25 270.00
Oats May 2020 269.50 269.50 269.50 -0.25 269.75
Oats Jul 2020 268.75 268.75 268.75 -0.25 269.00
Wheat Sep 2019 493.50 483.25 487.25 unch 487.50
Wheat Dec 2019 505.00 495.00 498.25 -0.75 498.25
Wheat Mar 2020 517.25 507.75 510.75 -0.75 510.75
Wheat May 2020 523.25 514.25 517.25 -0.75 517.25
Wheat Jul 2020 525.50 517.00 519.75 -0.75 519.50
Spring Wheat Sep 2019 527.25 520.25 520.50 -0.75 520.50
Spring Wheat Dec 2019 541.00 534.75 535.00 unch 535.00
Spring Wheat Mar 2020 555.25 550.00 550.00 unch 550.00
Spring Wheat May 2020 561.75 559.25 559.25 -0.50 559.25
Spring Wheat Jul 2020 570.00 568.50 568.50 -0.25 568.50
Hard Red Wheat Sep 2019 435.50 426.50 431.50 2.25 431.75
Hard Red Wheat Dec 2019 453.75 445.50 449.25 0.75 449.50
Hard Red Wheat Mar 2020 472.00 464.25 467.25 -0.50 467.50
Hard Red Wheat May 2020 484.00 477.00 479.00 -1.00 479.25
Hard Red Wheat Jul 2020 489.25 483.00 484.75 -1.00 485.00
Live Cattle (Pit) Aug 2019 109.05 109.05 109.05 0.60 109.05
Live Cattle (Pit) Oct 2019 109.88 109.88 109.88 0.72 109.88
Live Cattle (Pit) Dec 2019 114.25 114.25 114.25 0.45 114.25
Feeder Cattle (Pit) Aug 2019 142.20 142.20 142.20 0.02 142.20
Feeder Cattle (Pit) Sep 2019 142.45 142.45 142.45 0.02 142.45
Feeder Cattle (Pit) Oct 2019 142.68 142.68 142.68 0.03 142.68
Lean Hogs (Pit) Aug 2019 86.18 86.18 86.18 2.95 86.18
Lean Hogs (Pit) Oct 2019 81.80 81.80 81.80 2.60 81.80
Lean Hogs (Pit) Dec 2019 79.68 79.68 79.68 2.65 79.68
Canadian Dollar Aug 2019 0.7615 0.7602 0.7614 -0.0017 0.7614
Crude Oil WTI Sep 2019 56.93 55.74 56.65 0.43 56.65

Prices updated at 1:20PM(CST) on 7/23/2019

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