Canola and wheat finished mixed

WINNIPEG – ICE Futures canola contracts were mixed at the end of trading on Thursday, with prices up for the front months and steady for the new crop contracts.

Fund players have been heavily short on canola and have seen a good downswing, which they are covering, according to a trader.

Also, there is speculation that China could be quietly buying canola. The trader pointed to similarities with United States soybeans, in which China picked a battle with the U.S., refused to buy soybeans and prices fell. After a period of time, China quietly resumed buying.

However, there is nothing explicit to show this is what China is doing with canola, he said.

Large supplies and a burdensome carryout weighed on values.

The Canadian dollar hovered around 75 U.S. cents by midafternoon Thursday.

About 23,170 contracts were traded on Thursday, which compares with Wednesday when 12,370 contracts changed hands. Spreading accounted for 16,160 contracts traded.

SOYBEAN futures at the Chicago Board of Trade were weaker on Thursday, as trade negotiations between the United States and China will continue into April.

Chinese President Xi Jinping and U.S. President Donald Trump are now expected to sign a deal by the end of April.

U.S. farmers appear to be ready to plant their third largest soybean crop, according to a report. Farmers said soybeans are their best option in 2019, especially if there is a U.S./China trade deal.

Sales of U.S. soybeans were strong for the week ending March 7. More than 1.9 million tonnes were sold, with 90 per cent of it going to China.

CORN futures were up on Thursday. However, U.S. corn sales were low last week, with about 847,000 tonnes sold to Mexico, South Korea and Japan.

Snow and rain made their way across the U.S. Midwest on Thursday, further delaying spring seeding and raising concerns about flooding.

WHEAT futures were mixed in trading on Thursday, with Kansas wheat steady, while Chicago and Minneapolis wheat up two to six cents.
A round of short covering on May futures provided support.

U.S. wheat sales were poor for the week ending March 7, with about 346,000 tonnes sold, with more than 75 per cent of it old crop, largely hard red wheat.



Light crude oil nearby futures in New York was 35 cents at US$58.61 per barrel.

In the afternoon, the Canadian dollar was trading around US75.04 cents, steady from 74.04 cents the previous trading day. The U.S. dollar was C$1.3327.


Winnipeg ICE Futures Canada dollars per tonne.

Canola Mar 19 456.20s +2.90 +0.64%

Canola May 19 461.20s +2.90 +0.63%

Canola Jul 19 469.40s +2.30 +0.49%

Canola Nov 19 480.60s -0.20 -0.04%

Canola Jan 20 486.70s -0.30 -0.06%


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.



Soybean Mar 19 889-4s +0-4 +0.06%

Soybean May 19 898-4s -2-4 -0.28%

Soybean Jul 19 912-2s -2-4 -0.27%

Soybean Aug 19 918-2s -2-6 -0.30%

Soybean Sep 19 923-2s -2-4 -0.27%


Soybean Meal Mar 19 301.8s +1.6 +0.53%

Soybean Meal May 19 305.9s +1.2 +0.39%

Soybean Meal Jul 19 309.7s +1.0 +0.32%


Soybean Oil Mar 19 29.40s -0.29 -0.98%

Soybean Oil May 19 29.57s -0.36 -1.20%

Soybean Oil Jul 19 29.89s -0.36 -1.19%


Corn Mar 19 361-4s +4-2 +1.19%

Corn May 19 370-2s +3-6 +1.02%

Corn Jul 19 379-4s +3-2 +0.86%

Corn Sep 19 386-2s +2-6 +0.72%

Corn Dec 19 394-0s +1-6 +0.45%


Oats Mar 19 260-0s unch unch

Oats May 19 273-4s +4-2 +1.58%

Oats Jul 19 273-4s +4-4 +1.67%

Oats Sep 19 271-4s +8-0 +3.04%

Oats Dec 19 266-0s +8-4 +3.30%


Wheat Mar 19 448-2s +8-0 +1.82%

Wheat May 19 452-6s +5-4 +1.23%

Wheat Jul 19 459-6s +4-4 +0.99%

Wheat Sep 19 468-4s +4-2 +0.92%

Wheat Dec 19 483-0s +4-0 +0.84%



Spring Wheat Mar 19 547-2s unch unch

Spring Wheat May 19 552-4s +2-0 +0.36%

Spring Wheat Jul 19 555-6s +2-2 +0.41%

Spring Wheat Sep 19 563-0s +2-2 +0.40%

Spring Wheat Dec 19 575-4s +2-2 +0.39%


Kansas City

Hard Red Wheat Mar 19 429-6s unch unch

Hard Red Wheat May 19 436-4s -0-2 -0.06%

Hard Red Wheat Jul 19 445-0s -0-4 -0.11%

Hard Red Wheat Sep 19 456-2s unch unch

Hard Red Wheat Dec 19 475-2s -0-2 -0.05%


Chicago livestock futures in US¢/pound, Pit trade

Live Cattle Apr 19 127.400s +0.725 +0.57%

Live Cattle Jun 19 120.350s +1.025 +0.86%

Live Cattle Aug 19 116.450s +0.825 +0.71%


Feeder Cattle Mar 19 141.100s -0.450 -0.32%

Feeder Cattle Apr 19 144.650s +0.525 +0.36%

Feeder Cattle May 19 146.350s +0.275 +0.19%


Lean Hogs Apr 19 65.800s +2.325 +3.66%

Lean Hogs May 19 74.900s +2.625 +3.63%

Lean Hogs Jun 19 83.525s +2.700 +3.34%


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