Canola closes higher

November canola managed to break $500, rising to $502.80 before setting in at $500.80 after starting the day at $493.90. The big jump was on the coat tails of soybeans, which grew by about 3 percent on the day, as traders began acting on rumours of Chinese and American trade discussions. August soybeans cleared US$ 9 to settle in at $9.03-75.

Drought remains in the trade’s minds as the USDA’s crop condition report shows the condition of the spring wheat crop in that country is slipping slightly. But that was not the only thing on their minds. The big Swedish farmers’ co-op, Lantmannen, forecast Sweden’s 2018 harvest of grains and oilseeds to fall to the lowest level in 26 years, down to 4.2 million tonnes, 2 million lower than the five-year average. While Sweden is not a large exporter of wheat, it will grow 40 percent less this year, shorting some higher-end markets in Europe, and will likely become a net importer itself.

German drought and high summer temperatures have hit that country’s crop, the Ukraine is down by an estimated 12 percent and later-season rains in the region have hurt quality of the ongoing harvest in some places.

Corn continues to rise in the market, possibly lifted by wheat, with September corn on Chicago finishing up a nickle per bushel to US$ 3.7225. This was despite the USDA’s crop condition report for the past week suggesting that there was no loss in yield, despite dry conditions and higher temperatures.

 

Name / Contract High Low Last Change Settlement
Canola Nov 2018 (updated 1:19PM(CST) on 7/31/2018) 502.80 492.40 500.80 7.00 500.80
Canola Jan 2019 (updated 1:19PM(CST) on 7/31/2018) 509.30 502.10 507.40 6.80 507.40
Canola Mar 2019 (updated 1:17PM(CST) on 7/31/2018) 514.40 507.50 512.80 7.00 512.80
Canola May 2019 (updated 1:17PM(CST) on 7/31/2018) 517.90 512.80 516.90 6.70 516.90
Canola July 2019 (updated 1:17PM(CST) on 7/31/2018) 519.50 514.30 519.50 7.30 519.50
Soybeans Aug 2018 906.00 873.25 902.75 27.75 903.75
Soybeans Sep 2018 912.00 878.50 907.50 26.75 908.75
Soybeans Nov 2018 922.25 888.75 918.00 27.00 919.00
Soybeans Jan 2019 932.75 899.25 929.00 27.50 929.50
Soybeans Mar 2019 941.75 908.75 937.75 27.00 938.50
Soybeans May 2019 950.00 918.00 946.75 26.75 947.25
Soybean Meal Aug 2018 342.60 333.30 341.20 7.30 341.20
Soybean Meal Sep 2018 341.50 332.20 340.00 7.10 339.90
Soybean Meal Oct 2018 341.80 332.40 340.10 7.10 340.20
Soybean Oil Aug 2018 28.80 28.32 28.74 0.43 28.73
Soybean Oil Sep 2018 28.97 28.47 28.87 0.41 28.89
Soybean Oil Oct 2018 29.10 28.59 29.00 0.42 29.01
Corn Sep 2018 374.25 366.25 372.25 5.00 372.25
Corn Dec 2018 388.50 380.25 386.25 5.00 386.50
Corn Mar 2019 398.75 390.75 397.00 5.25 397.00
Corn May 2019 404.25 396.50 401.75 4.50 402.25
Corn Jul 2019 409.25 401.25 406.75 4.75 406.75
Oats Sep 2018 237.75 232.25 236.00 3.25 235.75
Oats Dec 2018 246.00 242.00 245.75 3.00 245.75
Oats Mar 2019 249.00 249.00 250.00 2.75 250.00
Oats May 2019 252.75 252.75 252.75 3.75 252.75
Oats Jul 2019 256.00 256.00 256.00 3.50 256.00
Wheat Sep 2018 565.00 540.50 554.50 8.00 553.75
Wheat Dec 2018 584.50 560.75 574.25 7.75 573.25
Wheat Mar 2019 598.50 576.00 588.75 7.00 587.75
Wheat May 2019 603.00 581.50 593.75 6.25 592.75
Wheat Jul 2019 601.50 581.25 593.00 5.50 592.25
Spring Wheat Sep 2018 614.50 598.00 606.25 5.25 606.25
Spring Wheat Dec 2018 629.00 612.50 622.75 7.25 622.75
Spring Wheat Mar 2019 641.00 627.00 635.75 6.75 635.75
Spring Wheat May 2019 646.25 640.00 642.75 7.25 642.75
Spring Wheat Jul 2019 653.75 644.50 648.75 6.75 648.75
Hard Red Wheat Sep 2018 564.25 542.75 556.25 8.50 556.50
Hard Red Wheat Dec 2018 591.00 570.00 584.00 9.25 584.25
Hard Red Wheat Mar 2019 607.00 587.00 600.75 9.25 601.00
Hard Red Wheat May 2019 612.75 594.00 606.25 8.75 606.25
Hard Red Wheat Jul 2019 613.00 593.50 606.00 8.00 605.75
Live Cattle (P) Aug 2018 108.50 107.55 107.68 -0.74 107.68
Live Cattle (P) Oct 2018 110.15 108.80 109.30 -0.50 109.30
Live Cattle (P) Dec 2018 113.88 112.50 112.98 -0.47 112.98
Feeder Cattle (P) Aug 2018 151.50 148.88 149.32 -2.18 149.32
Feeder Cattle (P) Sep 2018 151.43 148.88 149.58 -1.77 149.58
Feeder Cattle (P) Oct 2018 151.80 149.08 149.95 -1.83 149.95
Lean Hogs (P) Aug 2018 64.02 60.88 61.12 -2.18 61.12
Lean Hogs (P) Oct 2018 51.55 50.12 50.72 -0.51 50.72
Lean Hogs (P) Dec 2018 46.90 45.92 46.55 -0.05 46.55
Canadian Dollar Aug 2018 0.7696 0.7644 0.7694 0.0013 0.7695
Crude Sep 2018 70.22 68.48 68.69 -1.44 68.76

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