How about that weather – market?

The weather market has settled in nicely. With every forecast and sunny hour the market swings up or down, the persistent sideways-across-the-bottom of last year appears to have gone on summer holidays.

Last week’s gains of a few points on most crops saw those taken back as markets moved on favourable weather for crops, warm, but not hot and dry, for most Midwestern regions. Soybeans lost 1.5 points on Chicago futures, while corn took back two and winter wheat fell three percent on the day. Soybeans led all commodities for volume today as good weather mixed with no-news on the trade front.

Canola felt the heat, or lack of it, tumbling $2.60 per tonne on ICE futures to $447 for November. July 2020 fell the least of all the contracts, $1.90 to $472.10.

Hard red spring wheat at Western Canadian elevators, based on Alberta Wheat’s PDQ system, was down in a range of $1.50 to $3.38 per tonne, depending on the region, with southern Alberta priced at about $231 per tonne, southern Saskatchewan at $221 and western Manitoba at $215. Durum was up slightly, in range of $240 to $254 per tonne. Peas were off slightly, in range of $221 to $247 outside of southern Manitoba, where these were $207 to 211.

Deferred basis prices on wheat improved across the board today, as did canola.

August soybeans on Chicago fell 13.25 US cents to $8.89-25 per bushel. Producers would have to wait for November contracts to get above $9 again, where the price was $9.06-25 after falling 13.5 cents.

September corn was off 8.5 cents to 4.22-25 per bu. Spring wheat for December was down 7.5 to $5.35 per bu.

Live cattle were up on the day, with pit-trade for August up 85 cents to $108.45 per hundredweight. Feeder cattle for October were up $2.63 to $142.65. Lean hogs for October were up 28 cents to $79.20.

The Canadian dollar was down slightly, ending at 76.32 cents to the American unit.

 

Name / Contract High Low Last Change Settlement
Canola Nov 2019 (updated 1:19PM(CST) on 7/22/2019) 451.00 446.10 447.00 -2.60 447.00
Canola Jan 2020 (updated 1:18PM(CST) on 7/22/2019) 457.90 453.10 454.30 -2.30 454.30
Canola Mar 2020 (updated 1:16PM(CST) on 7/22/2019) 464.90 460.20 461.20 -2.40 461.20
Canola May 2020 (updated 1:16PM(CST) on 7/22/2019) 470.70 466.40 467.10 -2.20 467.10
Canola Jul 2020 (updated 1:16PM(CST) on 7/22/2019) 475.70 471.40 472.10 -1.90 472.10
Soybean Aug 2019 904.25 887.50 888.25 -13.25 889.25
Soybean Sep 2019 910.00 893.25 894.00 -13.25 895.00
Soybean Nov 2019 922.00 905.00 905.75 -13.50 906.75
Soybean Jan 2020 933.75 917.75 918.50 -13.25 919.50
Soybean Mar 2020 942.50 927.25 928.25 -12.25 929.25
Soybean May 2020 950.00 936.25 937.00 -11.75 938.00
Soybean Meal Aug 2019 312.20 308.20 308.40 -2.80 308.50
Soybean Meal Sep 2019 313.40 309.40 309.70 -2.80 309.90
Soybean Meal Oct 2019 314.90 311.00 311.30 -3.00 311.40
Soybean Oil Aug 2019 28.23 27.70 27.73 -0.37 27.71
Soybean Oil Sep 2019 28.33 27.82 27.85 -0.35 27.82
Soybean Oil Oct 2019 28.44 27.91 27.95 -0.36 27.93
Corn Sep 2019 432.25 421.00 422.25 -8.50 422.25
Corn Dec 2019 437.00 425.50 426.75 -9.00 427.00
Corn Mar 2020 445.25 434.25 435.75 -8.25 435.75
Corn May 2020 448.25 438.50 440.25 -7.75 440.00
Corn Jul 2020 452.00 442.50 443.75 -7.50 443.75
Oats Sep 2019 276.25 266.00 266.75 -5.00 266.50
Oats Dec 2019 275.00 266.25 267.00 -5.25 266.50
Oats Mar 2020 274.75 270.75 270.75 -5.00 272.00
Oats May 2020 269.75 269.75 269.75 -5.00 274.75
Oats Jul 2020 269.00 269.00 269.00 -5.00 274.00
Wheat Sep 2019 505.25 487.00 487.25 -15.25 487.75
Wheat Dec 2019 515.00 498.50 499.00 -14.50 499.50
Wheat Mar 2020 526.00 511.00 511.50 -13.75 511.75
Wheat May 2020 530.25 517.75 518.00 -13.00 518.25
Wheat Jul 2020 532.25 520.25 520.50 -10.75 521.00
Spring Wheat Sep 2019 529.00 521.00 521.00 -8.25 521.00
Spring Wheat Dec 2019 542.25 534.75 535.00 -7.50 535.00
Spring Wheat Mar 2020 556.00 550.00 550.00 -6.50 550.00
Spring Wheat May 2020 562.50 559.75 559.75 -5.00 559.75
Spring Wheat Jul 2020 571.50 568.50 568.50 -4.25 568.50
Hard Red Wheat Sep 2019 443.25 428.00 429.25 -10.75 429.25
Hard Red Wheat Dec 2019 461.75 447.25 448.50 -11.25 449.00
Hard Red Wheat Mar 2020 480.50 466.50 467.75 -11.50 468.25
Hard Red Wheat May 2020 491.25 480.00 480.00 -11.50 480.50
Hard Red Wheat Jul 2020 497.00 484.75 485.75 -11.25 486.75
Live Cattle (Pit) Aug 2019 108.45 108.45 108.45 0.85 108.45
Live Cattle (Pit) Oct 2019 109.15 109.15 109.15 0.65 109.15
Live Cattle (Pit) Dec 2019 113.80 113.80 113.80 0.63 113.80
Feeder Cattle (Pit) Aug 2019 142.18 142.18 142.18 2.20 142.18
Feeder Cattle (Pit) Sep 2019 142.43 142.43 142.43 2.63 142.43
Feeder Cattle (Pit) Oct 2019 142.65 142.65 142.65 2.63 142.65
Lean Hogs (Pit) Aug 2019 83.23 83.23 83.23 -0.65 83.23
Lean Hogs (Pit) Oct 2019 79.20 79.20 79.20 0.28 79.20
Lean Hogs (Pit) Dec 2019 77.03 77.03 77.03 0.28 77.03
Canadian Dollar Aug 2019 0.7667 0.7626 0.7632 -0.0028 0.7632
Crude Oil WTI Aug 2019 56.84 55.72 56.22 0.59 56.22

Prices updated at 1:20PM(CST) on 7/22/2019

 

 

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