Canola futures little changed Monday, awaiting USDA S&D report

Canola futures ended little changed on Monday and only corn trade showed significant life.

Canola was down early in the trading day on a stronger loonie and weaker soy oil futures, but rallied toward the end of trade on short covering and slow sales from farmers.

The ICE Futures Canada benchmark best basis bid in the par region of central Saskatchewan was zero.

The market was adjusting ahead of the USDA’s monthly supply and demand report expected Tuesday.

May corn rose about two percent on short covering. That gain, and short covering, also supported winter wheat futures, but Minneapolis spring wheat was little changed. Soybeans were little changed, but soy oil was down about 0.75 percent.

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Alberta Crop Report: Rains in the south, dryness in the north

Rain fell onto the southern half of Alberta last week, while hot and dry conditions persisted in the northern half, according to the province’s crop report released on July 18.

Corn advanced after weekly data released on Friday from the U.S. Commodity Futures Trading Commission showed big speculators maintaining a large net short position, which is unusual at a time of year when adverse weather can stall Midwest fieldwork, Reuters reported.

After the market closed, the U.S. Department of Agriculture said the corn crop was 3 percent planted, behind an average of trade estimates for 4 percent but in line with the five-year average.

The weekly USDA crop condition report said winter wheat was 53 percent good to excellent, up from 51 percent last week thanks to recent rain.

Last year at the same time, winter wheat was 54 percent good to excellent.

OUTSIDE MARKETS

Light crude oil nearby futures in New York were up 84 cents to US$53.08 per barrel.

In the afternoon, the Canadian dollar was trading around US75.01 cents, up from 74.53 cents the previous trading day. The U.S. dollar was C$1.3332.

The Toronto Stock Exchange’s S&P/TSX composite index settled up 63.66 points, or 0.41 percent, at 15,730.79.

In light trade The Dow Jones Industrial Average was up 1.92 points, or 0.01 percent, to 20,658.02, the S&P 500 gained 1.62 points, or 0.07 percent, to 2,357.16 and the Nasdaq Composite added 3.11 points, or 0.05 percent, to 5,880.93.

Winnipeg ICE Futures Canada dollars per tonne

Canola May 2017 489.70 +0.60 +0.12%

Canola Jul 2017 492.20 -0.40 -0.08%

Canola Nov 2017 482.00 -2.30 -0.47%

Canola Jan 2018 484.30 -2.30 -0.47%

Canola Mar 2018 486.70 -2.70 -0.55%

Milling Wheat May 2017 225.00 unch 0.00%

Milling Wheat Jul 2017 226.00 unch 0.00%

Milling Wheat Oct 2017 223.00 +1.00 +0.45%

Durum Wheat May 2017 273.00 unch 0.00%

Durum Wheat Jul 2017 272.00 unch 0.00%

Durum Wheat Oct 2017 264.00 +1.00 +0.38%

Barley May 2017 137.00 unch 0.00%

Barley Jul 2017 138.00 unch 0.00%

Barley Oct 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 May 2017 941.75 unch 0.00%

Soybeans Jul 2017 953.25 +0.50 +0.05%

Soybeans Aug 2017 955.00 +0.75 +0.08%

Soybeans Sep 2017 952.25 +1.25 +0.13%

Soybeans Nov 2017 949.75 +1.50 +0.16%

Soybeans Jan 2018 956.00 +1.50 +0.16%

Soybean Meal May 2017 309.10 +1.70 +0.55%

Soybean Meal Jul 2017 313.20 +1.90 +0.61%

Soybean Meal Aug 2017 314.00 +2.10 +0.67%

Soybean Oil May 2017 31.35 -0.23 -0.73%

Soybean Oil Jul 2017 31.62 -0.23 -0.72%

Soybean Oil Aug 2017 31.73 -0.20 -0.63%

Corn May 2017 367.00 +7.25 +2.02%

Corn Jul 2017 374.50 +7.25 +1.97%

Corn Sep 2017 381.75 +7.00 +1.87%

Corn Dec 2017 391.00 +6.75 +1.76%

Corn Mar 2018 399.50 +6.25 +1.59%

Oats May 2017 216.50 unch 0.00%

Oats Jul 2017 216.00 -0.25 -0.12%

Oats Sep 2017 214.00 -0.25 -0.12%

Oats Dec 2017 215.25 -0.25 -0.12%

Oats Mar 2018 222.25 -0.25 -0.11%

Wheat May 2017 428.75 +4.00 +0.94%

Wheat Jul 2017 441.75 +4.75 +1.09%

Wheat Sep 2017 455.00 +4.50 +1.00%

Wheat Dec 2017 474.75 +4.25 +0.90%

Wheat Mar 2018 491.00 +4.50 +0.92%

Minneapolis

Spring Wheat May 2017 519.25 +1.00 +0.19%

Spring Wheat Jul 2017 527.00 +1.25 +0.24%

Spring Wheat Sep 2017 535.50 +1.00 +0.19%

Spring Wheat Dec 2017 546.75 +0.50 +0.09%

Spring Wheat Mar 2018 557.75 +1.25 +0.22%

Kansas City

Hard Red Wheat May 2017 425.50 +3.25 +0.77%

Hard Red Wheat Jul 2017 438.25 +3.50 +0.81%

Hard Red Wheat Sep 2017 453.25 +3.00 +0.67%

Hard Red Wheat Dec 2017 477.75 +2.75 +0.58%

Hard Red Wheat Mar 2018 495.00 +3.50 +0.71%

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

Live Cattle (P) Apr 2017 121.10 +1.10 +0.92%

Live Cattle (P) Jun 2017 112.30 +0.52 +0.47%

Live Cattle (P) Aug 2017 108.60 +0.52 +0.48%

Feeder Cattle (P) Apr 2017 135.30 +1.65 +1.23%

Feeder Cattle (P) May 2017 135.38 +1.58 +1.18%

Feeder Cattle (P) Aug 2017 137.18 +1.53 +1.13%

Lean Hogs (P) Apr 2017 63.32 -0.13 -0.20%

Lean Hogs (P) May 2017 69.35 +0.35 +0.51%

Lean Hogs (P) Jun 2017 73.28 +0.28 +0.38%

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