The ICE Futures canola platform finished the day weaker, dragged down by a plunge in the soy complex.
Chicago Board of Trade soybean, oil and meal contracts dropped significantly during the day. Uncertainty over China and United States trade relations and forecasts for record Brazilian soy production dragged contracts down.
Traders are awaiting the outcome of a meeting between U.S. President Donald Trump and Chinese President Xi Jinping on Friday at the G20 Summit in Argentina. Many are unsure if an agreement will be reached.
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About 12,000 canola contracts traded, which compares with Friday when 13,208 contracts changed hands. Spreading accounted for 8,156 of the contracts traded.
In the U.S. markets, according to new data, China imported 6.53 million tonnes of soybeans from Brazil in October, which accounted for 94 per cent of total soybean imports. U.S. imports accounted for only 67,000 tonnes.
CBOT corn prices closed in the red, as the drop in the soy complex weighed on the market.
Weather reports out of the U.S. Midwest have been bearish for corn. Snow fell throughout the Midwest over the weekend, which will make finishing harvest difficult. The forecast is calling for drier conditions over the next few days but a snowstorm is headed for the area later in the week.
Wheat futures in the U.S. finished the day higher.
The wheat market in Australia was up today. Forecasts for rain there could disrupt harvest in the south-eastern part of the continent, which pushed the market higher.
Iraq has a milling wheat tender out. They are looking for wheat from either the U.S., Australia or Canada by Dec. 3.
The Buenos Aries Grain Exchange is pegging the Argentina wheat harvest at 21 per cent done. The Rosario Exchange has slightly lowered its Argentina wheat production estimate to 19 million tonnes.
OUTSIDE MARKETS
Light crude oil nearby futures in New York was up$1.21 at US$51.63 per barrel.
In the afternoon, the Canadian dollar was trading around US75.59 cents, down from 75.60 centsthe previous trading day. The U.S. dollar was C$1.3230.
Winnipeg ICE Futures Canada dollars per tonne.
Canola Jan 19 471.80s -4.30 -0.90%
Canola Mar 19 480.40s -4.20 -0.87%
Canola May 19 488.90s -4.10 -0.83%
Canola Jul 19 495.60s -3.20 -0.64%
Canola Nov 19 493.50s -1.70 -0.34%
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 Jan 19 862-2s -18-6 -2.13%
Soybeans Mar 19 876-2s -18-4 -2.07%
Soybeans May 19 889-6s -18-2 -2.01%
Soybeans Jul 19 902-6s -17-4 -1.90%
Soybeans Aug 19 907-4s -17-4 -1.89%
Soybean Meal Dec 18 303.0s -2.8 -0.92%
Soybean Meal Jan 19 305.1s -2.9 -0.94%
Soybean Meal Mar 19 307.8s -2.6 -0.84%
Soybean Oil Dec 18 26.96s -0.69 -2.50%
Soybean Oil Jan 19 27.19s -0.66 -2.37%
Soybean Oil Mar 19 27.44s -0.65 -2.31%
Corn Dec 18 356-0s -3-0 -0.84%
Corn Mar 19 368-0s -2-4 -0.67%
Corn May 19 375-6s -2-4 -0.66%
Corn Jul 19 382-6s -2-6 -0.71%
Corn Sep 19 386-2s -2-6 -0.71%
Oats Dec 18 277-6s -8-6 -3.05%
Oats Mar 19 284-2s -8-2 -2.82%
Oats May 19 284-0s -9-2 -3.15%
Oats Jul 19 278-2s -8-2 -2.88%
Oats Sep 19 270-2s -8-6 -3.14%
Wheat Dec 18 507-4s +7-6 +1.55%
Wheat Mar 19 514-0s +6-6 +1.33%
Wheat May 19 518-6s +5-6 +1.12%
Wheat Jul 19 525-0s +4-6 +0.91%
Wheat Sep 19 534-6s +3-6 +0.71%
Minneapolis
Spring Wheat Dec 18 577-0s +2-6 +0.48%
Spring Wheat Mar 19 572-0s +0-6 +0.13%
Spring Wheat May 19 577-2s +0-6 +0.13%
Spring Wheat Jul 19 584-2s unch unch
Spring Wheat Sep 19 592-6s unch unch
Kansas City
Hard Red Wheat Dec 18 464-4s +3-2 +0.70%
Hard Red Wheat Mar 19 489-6s +3-6 +0.77%
Hard Red Wheat May 19 502-6s +4-2 +0.85%
Hard Red Wheat Jul 19 515-6s +4-6 +0.93%
Hard Red Wheat Sep 19 529-4s +5-0 +0.95%
Chicago livestock futures in US¢/pound, Pit trade
Live Cattle Dec 18 116.925s -0.175 -0.15%
Live Cattle Feb 19 120.650s -0.275 -0.23%
Live Cattle Apr 19 122.875s -0.275 -0.22%
Feeder Cattle Jan 19 149.150s -0.225 -0.15%
Feeder Cattle Mar 19 146.150s +0.225 +0.15%
Feeder Cattle Apr 19 146.475s +0.225 +0.15%
Lean Hogs Dec 18 57.400s -1.675 -2.84%
Lean Hogs Feb 19 65.550s -2.275 -3.35%
Lean Hogs Apr 19 71.300s -1.100 -1.52%
