Winnipeg – The ICE Futures canola platform chopped around for much of Friday’s session before ending with small gains. Traders were squaring positions before the weekend.
Advances in U.S. soyoil pointed the way higher for canola.
Concerns over frost in Australian canola fields and a smaller European rapeseed crop helped boost values.
However, canola’s front-month November contract ran into technical resistance at the C$490 per tonne mark.
Uncertainty over the future of global trade cast a gloomy shadow over agricultural markets in general.
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U.S. grains: Corn futures lower as farmers sell, soy choppy
Chicago corn futures ticked lower on Tuesday on selling pressure as soybeans chopped up and down, though expectations of a bumper U.S. harvest limited the upside in prices, analysts said.
Despite recent cold weather in parts of Western Canada the crop is still thought to be in decent shape, according to an analyst.
About 12,630 canola contracts traded, which compares with Thursday when 20,042 contracts changed hands. Spreading accounted for 8,478 of the contracts traded.
Settlement prices are in Canadian dollars per metric tonne.
Soybean futures on the Chicago Board of Trade finished the week mostly unchanged as traders engaged in routine, technical trade.
Strength in the U.S. dollar was somewhat bearish for values.
There are rumours Argentina has been buying more U.S. beans lately so it can turn around and sell them to China, or crushing them in Argentina first before selling the meal to China.
The corn market rose Friday as funds went bargain hunting before the weekend.
Ethanol margins remain tight and the production outlook appears muted over the short-term.
Heavy rains in the Midwest, and in particular northern Iowa, disrupted the harvest during the week with more showers forecast for this weekend.
Wheat futures in Chicago and Minneapolis recorded slight losses Friday while Kansas City futures were unchanged.
Demand for U.S. wheat seems to be weakening due to cheaper supplies of wheat in the Black Sea region.
Recent freezing temperatures in Australia are believed to have caused some damage to wheat crops, which was supportive.
OUTSIDE MARKETS
Light crude oil nearby futures in New York was up 46 cents at US$70.78 per barrel.
In the afternoon, the Canadian dollar was trading around US77.42 cents, down from 77.49 cents the previous trading day. The U.S. dollar was C$1.2916.
Winnipeg ICE Futures Canada dollars per tonne.
Canola Nov 18 489.70s +0.60 +0.12%
Canola Jan 19 496.50s +1.80 +0.36%
Canola Mar 19 502.80s +2.80 +0.56%
Canola May 19 507.30s +2.60 +0.52%
Canola Jul 19 511.00s +2.40 +0.47%
American crop prices in cents US/bushel, soybean meal in $US/short ton, soy oil in cents US/pound. Prices are displayed with fractions (2/8, 4/8, and 6/8) instead of decimals. -2 equals .25, -4 equals .50, -6 equals .75. The “s” means it is the settlement.
Chicago
Soybeans Nov 18 847-2s -3-0 -0.35%
Soybeans Jan 19 861-2s -2-6 -0.32%
Soybeans Mar 19 874-2s -2-6 -0.31%
Soybeans May 19 887-4s -2-2 -0.25%
Soybeans Jul 19 897-6s -2-0 -0.22%
Soybean Meal Oct 18 305.9s -5.5 -1.77%
Soybean Meal Dec 18 308.9s -5.5 -1.75%
Soybean Meal Jan 19 309.8s -5.5 -1.74%
Soybean Oil Oct 18 28.09s +0.49 +1.78%
Soybean Oil Dec 18 28.34s +0.48 +1.72%
Soybean Oil Jan 19 28.59s +0.48 +1.71%
Corn Dec 18 357-2s +4-6 +1.35%
Corn Mar 19 369-2s +4-4 +1.23%
Corn May 19 377-2s +4-4 +1.21%
Corn Jul 19 383-2s +4-2 +1.12%
Corn Sep 19 387-4s +3-4 +0.91%
Oats Dec 18 253-0s +4-0 +1.61%
Oats Mar 19 257-6s +4-0 +1.58%
Oats May 19 261-2s +3-2 +1.26%
Oats Jul 19 264-6s +3-2 +1.24%
Oats Sep 19 268-2s +3-4 +1.32%
Wheat Dec 18 521-6s -2-2 -0.43%
Wheat Mar 19 540-6s -1-6 -0.32%
Wheat May 19 553-0s -0-6 -0.14%
Wheat Jul 19 555-6s -0-4 -0.09%
Wheat Sep 19 565-4s -0-2 -0.04%
Minneapolis
Spring Wheat Dec 18 582-4s -6-0 -1.02%
Spring Wheat Mar 19 597-4s -5-0 -0.83%
Spring Wheat May 19 605-4s -3-6 -0.62%
Spring Wheat Jul 19 611-6s -3-2 -0.53%
Spring Wheat Sep 19 615-6s -2-6 -0.44%
Kansas City
Hard Red Wheat Dec 18 525-2s -1-6 -0.33%
Hard Red Wheat Mar 19 548-6s -2-0 -0.36%
Hard Red Wheat May 19 561-2s -2-0 -0.36%
Hard Red Wheat Jul 19 560-6s -1-2 -0.22%
Hard Red Wheat Sep 19 571-4s -1-0 -0.17%
Chicago livestock futures in US¢/pound, Pit trade
Live Cattle Oct 18 113.075s +0.625 +0.56%
Live Cattle Dec 18 118.450s +0.550 +0.47%
Live Cattle Feb 19 122.250s +0.650 +0.53%
Feeder Cattle Sep 18 156.950s +1.275 +0.82%
Feeder Cattle Oct 18 158.075s +0.800 +0.51%
Feeder Cattle Nov 18 157.800s +0.650 +0.41%
Lean Hogs Oct 18 60.300s -0.950 -1.55%
Lean Hogs Dec 18 57.400s -0.875 -1.50%
Lean Hogs Feb 19 64.925s -0.700 -1.07%
