Cuts were felt across the board as commodities came under what appeared to be a technical adjustment. And that was likely further tempered by not much other good news. Durum bucked that trend moving up sharply at the elevators.
Canola felt the cold draft blowing in from Chicago beans as falling temperatures in the American Midwest paired up with falling futures prices. March canola closed at $486.50 per tonne, down $2. May was off $2.10 to $495 and July, hanging on above $500 was off $2.80 to fall to $502.30. November fell 80 cents to get back below $500, at $499.60.
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U.S. grains: Soybeans, corn fall on harvest pressure
U.S. corn and soybean futures were lower on Monday in choppy trade, pressured by the expanding Midwest harvest of both crops, but uncertainty about quarterly government stocks data due on Tuesday kept a floor under prices, analysts said.
Today United States Justice department officials cracked open the two indictments against China’s Huawei Technologies that suggest the company had stolen trade secrets from American T-Mobile, had committed wire and bank fraud and obstructed justice.
While that happened after the end of the trading day, the overall uneasy feeling with Chinese trade relations was also weighing on the markets, with a deal required a little more than a month away or there will be a return to tariffs.
Other news on the soybean front might have taken some of the negative pressure off the oilseed market, as Brazil’s Mato Grosso state remains dry and production will likely be confirmed to be off even more than expected after crop tours later this week
American soybeans were down 2 US-cents to reach $9.23-20 today on March contract.
Cereals also felt the chill. Minneapolis spring wheat was off just over half a cent, Kansas City 2.75 cents and Chicago 1.2 cents. Corn was also off slightly.
While CWRS wheat in Western Canada was down from 25 to 80 Ccents, ranging from $247 to $268 per tonne at the elevator, durum turned upwards on the local market, bringing an additional $3.50 to $7.70 per tonne today, finishing in a range still below CWRS, but gaining ground. In western Manitoba durum finished at $244.38, up $4.96 per tonne leaving just a $3.50 negative spread between it and its CWRS cousin. It was still $10 short in the Regina Plains, $20 short in southwestern Saskatchewan and had a $31 gap in southern Alberta. Durum ranged from $227 to $244 per tonne, according to Alberta Wheat’s PDQ system.
PDQ reported prices for number one canola from $459 in Manitoba to $479 northern Alberta.
| Name / Contract | High | Low | Last | Change | Settlement |
| Canola Mar 2019 (updated 1:19PM(CST) on 1/28/2019) | 488.70 | 486.10 | 486.30 | -2.20 | 486.30 |
| Canola May 2019 (updated 1:17PM(CST) on 1/28/2019) | 497.20 | 494.50 | 494.70 | -2.40 | 494.70 |
| Canola Jul 2019 (updated 1:17PM(CST) on 1/28/2019) | 505.10 | 501.80 | 502.00 | -3.10 | 502.00 |
| Canola Nov 2019 (updated 1:17PM(CST) on 1/28/2019) | 500.50 | 498.50 | 498.50 | -1.90 | 498.50 |
| Canola Jan 2020 (updated 1:10PM(CST) on 1/28/2019) | 504.80 | 504.70 | 504.80 | unch | 504.80 |
| Soybeans Mar 2019 | 925.00 | 915.75 | 923.25 | -2.00 | 923.25 |
| Soybeans May 2019 | 938.50 | 929.50 | 937.00 | -2.00 | 936.75 |
| Soybeans Jul 2019 | 951.25 | 942.00 | 949.75 | -2.00 | 949.50 |
| Soybeans Aug 2019 | 955.50 | 947.25 | 954.50 | -1.75 | 954.25 |
| Soybeans Sep 2019 | 957.50 | 950.00 | 956.50 | -1.50 | 955.25 |
| Soybeans Nov 2019 | 963.75 | 955.75 | 962.25 | -2.00 | 962.00 |
| Soybean Meal Mar 2019 | 314.30 | 310.60 | 312.20 | -1.70 | 312.10 |
| Soybean Meal May 2019 | 318.20 | 314.70 | 316.10 | -1.80 | 316.00 |
| Soybean Meal Jul 2019 | 322.00 | 318.30 | 320.00 | -1.70 | 319.80 |
| Soybean Oil Mar 2019 | 30.32 | 29.90 | 30.30 | 0.27 | 30.30 |
| Soybean Oil May 2019 | 30.63 | 30.21 | 30.61 | 0.27 | 30.61 |
| Soybean Oil Jul 2019 | 30.93 | 30.51 | 30.92 | 0.28 | 30.90 |
| Corn Mar 2019 | 381.00 | 378.00 | 379.75 | -0.50 | 379.75 |
| Corn May 2019 | 389.25 | 386.25 | 388.25 | -0.50 | 388.25 |
| Corn Jul 2019 | 397.00 | 394.00 | 396.25 | -0.25 | 395.75 |
| Corn Sep 2019 | 399.25 | 396.75 | 398.50 | -0.50 | 398.25 |
| Corn Dec 2019 | 403.50 | 401.25 | 403.00 | -0.25 | 402.50 |
| Oats Mar 2019 | 294.50 | 278.00 | 285.50 | -5.50 | 285.25 |
| Oats May 2019 | 291.00 | 277.25 | 285.75 | -3.00 | 286.00 |
| Oats Jul 2019 | 285.00 | 285.00 | 285.00 | -3.25 | 288.25 |
| Oats Sep 2019 | 276.50 | 276.50 | 276.50 | -3.00 | 279.50 |
| Oats Dec 2019 | 268.75 | 267.00 | 268.00 | -4.75 | 268.00 |
| Wheat Mar 2019 | 523.50 | 516.00 | 518.75 | -1.25 | 518.50 |
| Wheat May 2019 | 530.50 | 523.00 | 525.50 | -1.50 | 525.25 |
| Wheat Jul 2019 | 536.75 | 529.00 | 531.25 | -1.75 | 531.25 |
| Wheat Sep 2019 | 544.00 | 537.00 | 540.00 | -1.00 | 540.00 |
| Wheat Dec 2019 | 556.50 | 550.00 | 553.25 | -0.50 | 553.00 |
| Spring Wheat Mar 2019 | 577.75 | 571.50 | 573.50 | -1.25 | 573.50 |
| Spring Wheat May 2019 | 580.75 | 574.50 | 576.00 | -1.50 | 576.00 |
| Spring Wheat Jul 2019 | 585.25 | 580.25 | 581.75 | -1.75 | 581.75 |
| Spring Wheat Sep 2019 | 590.50 | 587.25 | 587.75 | -1.75 | 587.75 |
| Spring Wheat Dec 2019 | 602.25 | 599.00 | 599.00 | -2.25 | 599.00 |
| Hard Red Wheat Mar 2019 | 513.25 | 504.50 | 506.75 | -2.75 | 506.50 |
| Hard Red Wheat May 2019 | 523.25 | 514.75 | 517.00 | -2.50 | 516.75 |
| Hard Red Wheat Jul 2019 | 532.75 | 524.75 | 526.75 | -2.50 | 526.50 |
| Hard Red Wheat Sep 2019 | 542.50 | 535.00 | 537.00 | -2.50 | 537.25 |
| Hard Red Wheat Dec 2019 | 558.00 | 550.75 | 552.75 | -2.25 | 552.50 |
| Live Cattle (Pit) Feb 2019 | 126.40 | 126.40 | 126.40 | 0.35 | 126.40 |
| Live Cattle (Pit) Apr 2019 | 127.38 | 127.38 | 127.38 | 0.53 | 127.38 |
| Live Cattle (Pit) Jun 2019 | 117.00 | 117.00 | 117.00 | 0.30 | 117.00 |
| Feeder Cattle (Pit) Jan 2019 | 143.48 | 143.48 | 143.48 | 0.10 | 143.48 |
| Feeder Cattle (Pit) Mar 2019 | 144.35 | 144.35 | 144.35 | 0.72 | 144.35 |
| Feeder Cattle (Pit) Apr 2019 | 145.60 | 145.60 | 145.60 | 0.88 | 145.60 |
| Lean Hogs (Pit) Feb 2019 | 57.98 | 57.98 | 57.98 | -0.40 | 57.98 |
| Lean Hogs (Pit) Apr 2019 | 62.33 | 62.33 | 62.33 | 0.20 | 62.33 |
| Lean Hogs (Pit) May 2019 | 68.43 | 68.43 | 68.43 | -0.48 | 68.43 |
| Canadian Dollar Feb 2019 | 0.7572 | 0.7545 | 0.7545 | -0.0019 | 0.7545 |
| Crude Oil WTI Mar 2019 | 53.64 | 51.33 | 51.85 | -1.84 | 51.85 |
Prices updated at 1:20PM(CST) on 1/28/2019
