ICE Canada canola falls on weak soy prices, technical selling

WINNIPEG, Manitoba, Aug 29 (Reuters) – ICE Canada canola futures slipped on Monday to the cheapest most-active contract price in two weeks, pressured by weaker U.S. soy prices and technical selling.

* The most-active November contract is technically weak, trading below the 50-day moving average, a trader said.

* Traders are awaiting results of the Canadian prime minister’s visit to China this week, where he has said he will raise the two countries’ canola dispute.

* November canola lost $3.50 at $456.20 per tonne.

* January canola gave up $3.60 at $463.40.

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ICE Canada Weekly: More declines on horizon for canola

Expect canola futures to fall back in the coming months, said analyst Jerry Klassen of Resilient Capital in Winnipeg. Klassen pointed to the Statistics Canada production update and China as two reasons for the coming declines.

* November-January canola spread traded 2,361 times.

* Chicago November soybeans fell on strong U.S. crop prospects and long liquidation.

* NYSE Liffe November rapeseed and October Malaysian palm oil dipped.

* The Canadian dollar was trading at $1.3005 to the U.S. dollar, or 76.89 U.S. cents at 1 p.m. CDT (1800 GMT), slightly lower than Friday’s close of $1.3000, or 76.92 U.S. cents.

Light crude oil nearby futures in New York were down 66 cents to US$46.98 per barrel.
The Canadian dollar at noon was US76.81 cents, down from 77.24 cents the previous trading day. The U.S. dollar at noon was C$1.3019.

Winnipeg ICE Futures Canada dollars per tonne
Canola Nov 2016   456.20   -3.50   -0.76%
Canola Jan 2017   463.40   -3.60   -0.77%
Canola Mar 2017   470.20   -3.50   -0.74%
Canola May 2017   476.30   -2.70   -0.56%
Canola Jul 2017   480.90   -2.50   -0.52%

Milling Wheat Oct 2016   204.00   -3.00   -1.45%
Milling Wheat Dec 2016   207.00   -3.00   -1.43%
Milling Wheat Mar 2017   211.00   -4.00   -1.86%

Durum Wheat Oct 2016   260.00   -1.00   -0.38%
Durum Wheat Dec 2016   263.00   -1.00   -0.38%
Durum Wheat Mar 2017   268.00   -1.00   -0.37%

Barley Oct 2016   138.00   unch   0.00%
Barley Dec 2016   138.00   unch   0.00%
Barley Mar 2017   140.00   unch   0.00%

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

Chicago
Soybeans Sep 2016   983.25   -6.50   -0.66%
Soybeans Nov 2016   964.25   -2.75   -0.28%
Soybeans Jan 2017   966.75   -2.75   -0.28%
Soybeans Mar 2017   968.25   -2.00   -0.21%
Soybeans May 2017   970.75   -0.50   -0.05%
Soybeans Jul 2017   973.25   -0.25   -0.03%

Soybean Meal Sep 2016   319.50   -1.20   -0.37%
Soybean Meal Oct 2016   317.00   -1.00   -0.31%
Soybean Meal Dec 2016   315.10   -0.20   -0.06%

Soybean Oil Sep 2016   32.81   -0.13   -0.39%
Soybean Oil Oct 2016   32.94   -0.11   -0.33%
Soybean Oil Dec 2016   33.22   -0.12   -0.36%

Corn Sep 2016   311.75   -5.00   -1.58%

Corn Dec 2016   320.75   -4.50   -1.38%
Corn Mar 2017   331.00   -4.00   -1.19%
Corn May 2017   338.25   -4.00   -1.17%
Corn Jul 2017   345.50   -4.00   -1.14%

Oats Sep 2016   162.00   -7.00   -4.14%
Oats Dec 2016   179.00   -4.00   -2.19%
Oats Mar 2017   193.00   -5.50   -2.77%
Oats May 2017   196.75   -4.75   -2.36%
Oats Jul 2017   203.25   -31.75   -13.51%

Wheat Sep 2016   370.50   -11.75   -3.07%
Wheat Dec 2016   397.00   -9.25   -2.28%
Wheat Mar 2017   421.00   -10.00   -2.32%
Wheat May 2017   435.75   -9.75   -2.19%
Wheat Jul 2017   444.75   -10.25   -2.25%

Minneapolis
Spring Wheat Sep 2016   488.25   -5.75   -1.16%
Spring Wheat Dec 2016   484.25   -8.75   -1.77%
Spring Wheat Mar 2017   496.25   -9.75   -1.93%
Spring Wheat May 2017   506.50   -9.00   -1.75%
Spring Wheat Jul 2017   516.25   -7.75   -1.48%

Kansas City
Hard Red Wheat Sep 2016   374.25   -15.00   -3.85%
Hard Red Wheat Dec 2016   402.25   -14.00   -3.36%
Hard Red Wheat Mar 2017   418.75   -13.75   -3.18%
Hard Red Wheat May 2017   429.50   -13.50   -3.05%

Hard Red Wheat Jul 2017   439.75   -13.50   -2.98%

Chicago livestock futures in US¢/pound (rounded to two decimal places)
Live Cattle (P) Aug 2016   110.75   +0.73   +0.66%
Live Cattle (P) Oct 2016   105.08   -1.12   -1.05%
Live Cattle (P) Dec 2016   107.02   -1.08   -1.00%

Feeder Cattle (P) Sep 2016   139.15   -0.95   -0.68%
Feeder Cattle (P) Oct 2016   135.38   -0.72   -0.53%
Feeder Cattle (P) Nov 2016   132.22   -0.73   -0.55%

Lean Hogs (P) Oct 2016   61.38   +0.06   +0.10%
Lean Hogs (P) Dec 2016   56.32   -0.28   -0.49%
Lean Hogs (P) Feb 2017   60.60   -0.30   -0.49%