WINNIPEG, (MarketsFarm) – Intercontinental Exchange (ICE) Futures canola contracts were slightly stronger on Monday, thanks to spillover support from soybeans on the Chicago Board of Trade.
However, canola values are expected to remain largely range-bound, with nothing signalling a big move in markets.
On Monday, 18,876 contracts were traded, which compares with Friday when 16,987 contracts changed hands. Spreading accounted
for 11,254 contracts traded.
SOYBEAN futures on the Chicago Board of Trade received a boost due to positive trade sentiments between the United States and China.
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South Korea, the Philippines, and China have reported additional cases of African Swine Fever. About a dozen villages in the Philippines have reported cases of the disease since September 9. South Korea has reported three cases in the past week, and China has reported one new case. The country’s hog herd shrunk significantly earlier in the year.
A study from Kansas State University confirmed the disease can be transmitted through contaminated feed. The disease is highly contagious, has no cure or vaccine, and is a significant threat to global soybean demand.
CORN futures were slightly stronger despite recent reports showing that corn exports have hit a multi-year low. Last week, about 234,000 tonnes of corn were shipped, which is a 44 per cent decrease from the previous week.
In the weekly crop progress report, analysts are expecting crop conditions to be steady compared to last week.
WHEAT futures were mixed on Monday, as forecasted rain in key growing regions has significantly delayed the spring wheat harvest.
The USDA reported that about 476,000 tonnes of wheat were inspected for export last week, down about eight per cent from the week prior but up by 10 per cent from this week last year.
OUTSIDE MARKETS
Light crude oil nearby futures in New York was US$58.56 per barrel, up from US$58.09 the previous trading day.
In the afternoon, the Canadian dollar was trading around US75.36 cents, down from 75.42 cents the previous trading day. The U.S. dollar was C$1.3269.
| Name / Contract | Last | Change | % Change |
| Canola Nov 19 | 448.30s | +0.90 | +0.20% |
| Canola Jan 20 | 456.50s | +0.70 | +0.15% |
| Canola Mar 20 | 464.80s | +0.80 | +0.17% |
| Canola May 20 | 472.30s | +0.60 | +0.13% |
| Canola Jul 20 | 478.50s | +0.60 | +0.13% |
| Soybean Nov 19 | 892-4s | +9-6 | +1.10% |
| Soybean Jan 20 | 906-0s | +9-4 | +1.06% |
| Soybean Mar 20 | 917-0s | +8-2 | +0.91% |
| Soybean May 20 | 926-4s | +7-2 | +0.79% |
| Soybean Jul 20 | 935-0s | +6-2 | +0.67% |
| Soybean Meal Oct 19 | 294.5s | +3.4 | +1.17% |
| Soybean Meal Dec 19 | 298.6s | +3.6 | +1.22% |
| Soybean Meal Jan 20 | 300.3s | +3.6 | +1.21% |
| Soybean Oil Oct 19 | 29.19s | -0.09 | -0.31% |
| Soybean Oil Dec 19 | 29.31s | -0.09 | -0.31% |
| Soybean Oil Jan 20 | 29.56s | -0.08 | -0.27% |
| Corn Dec 19 | 373-2s | +2-4 | +0.67% |
| Corn Mar 20 | 384-2s | +2-4 | +0.65% |
| Corn May 20 | 392-0s | +2-4 | +0.64% |
| Corn Jul 20 | 397-6s | +2-4 | +0.63% |
| Corn Sep 20 | 398-6s | +2-0 | +0.50% |
| Oats Dec 19 | 279-6s | +4-0 | +1.45% |
| Oats Mar 20 | 282-0s | +1-2 | +0.45% |
| Oats May 20 | 281-4s | +1-4 | +0.54% |
| Oats Jul 20 | 282-2s | +1-6 | +0.62% |
| Oats Sep 20 | 283-0s | +3-2 | +1.16% |
| Wheat Dec 19 | 483-0s | -1-2 | -0.26% |
| Wheat Mar 20 | 490-0s | -1-0 | -0.20% |
| Wheat May 20 | 494-6s | -1-0 | -0.20% |
| Wheat Jul 20 | 498-2s | -1-4 | -0.30% |
| Wheat Sep 20 | 506-0s | -1-2 | -0.25% |
| Spring Wheat Dec 19 | 537-2s | +13-0 | +2.48% |
| Spring Wheat Mar 20 | 548-2s | +10-6 | +2.00% |
| Spring Wheat May 20 | 558-0s | +9-4 | +1.73% |
| Spring Wheat Jul 20 | 567-0s | +9-4 | +1.70% |
| Spring Wheat Sep 20 | 576-2s | +9-4 | +1.68% |
| Hard Red Wheat Dec 19 | 406-4s | -1-0 | -0.25% |
| Hard Red Wheat Mar 20 | 419-6s | -1-2 | -0.30% |
| Hard Red Wheat May 20 | 429-0s | -1-6 | -0.41% |
| Hard Red Wheat Jul 20 | 438-0s | -2-2 | -0.51% |
| Hard Red Wheat Sep 20 | 449-0s | -2-6 | -0.61% |
| Live Cattle (Pit) Oct 19 | 102.075s | +2.725 | +2.74% |
| Live Cattle (Pit) Dec 19 | 108.000s | +2.850 | +2.71% |
| Live Cattle (Pit) Feb 20 | 114.250s | +2.175 | +1.94% |
| Feeder Cattle (Pit) Sep 19 | 141.600s | +1.275 | +0.91% |
| Feeder Cattle (Pit) Oct 19 | 141.250s | +2.050 | +1.47% |
| Feeder Cattle (Pit) Nov 19 | 139.725s | +2.700 | +1.97% |
| Lean Hogs (Pit) Oct 19 | 60.975s | +0.625 | +1.04% |
| Lean Hogs (Pit) Dec 19 | 68.450s | +2.200 | +3.32% |
| Lean Hogs (Pit) Feb 20 | 74.900s | +1.000 | +1.35% |
