Canola continued its climb higher Monday, edging up slightly and recovering more of its lost ground and staying well within the range it has inhabited since mid-July.
November canola futures have been steadily treading back toward the key $500 per tonne mark since about Sept. 13, after beginning its fall from $500 at the start of September.
Canola’s near-term nadir of sub-$484 is now more than C$10 behind it, giving farmers hope that it keeps going higher and remains above the important line of support at $490.
January canola sits just above $501.
Read Also
Agriculture, agri-food groups bid for spot in Carney’s economic agenda
A coalition of producer and agri-business groups is calling on Prime Minister Mark Carney to make Canadian agriculture part of his economic agenda.
Canola was relatively strong Monday, with soybeans and its products experiencing down days. Soybean contracts were down 12-13 cents per bushel.
Wheat contracts were higher, with spring wheat the bull, with December futures rising 14 cents per bushel, to C$6.60.
While recent wet weather in much of Western Canada has delayed harvest, the United States Midwestern has beem experiencing a heat wave, helping crops advance and alleviating worries about delayed crop maturation.
U.S. soybean yields are rumoured to be better than expected.
The U.S. Department of Agriculture said the soybean harvest was 10 percent complete as of Sunday and the corn harvest 11 percent done.
Light crude oil nearby futures in New York were up $1.56 at US$52.22 per barrel.
In the afternoon, the Canadian dollar was trading around US80.83 cents, down from 81.07 cents the previous trading day. The U.S. dollar was C$1.2372.
Winnipeg ICE Futures Canada dollars per tonne
Canola Nov 17 495.30s +0.50 +0.10%
Canola Jan 18 501.80s +0.30 +0.06%
Canola Mar 18 506.60s +0.60 +0.12%
Canola May 18 509.30s +0.60 +0.12%
Canola Jul 18 510.40s +0.20 +0.04%
Milling Wheat Oct 17 235.00s +5.00 +2.17%
Milling Wheat Dec 17 237.00s +5.00 +2.16%
Milling Wheat Mar 18 243.00s +6.00 +2.53%
Durum Wheat Oct 17 279.00s unch unch
Durum Wheat Dec 17 283.00s unch unch
Durum Wheat Mar 18 286.00s unch unch
Barley Oct 17 145.00s unch unch
Barley Dec 17 148.00s unch unch
Barley Mar 18 151.00s unch unch
Soybeans Nov 17 971-2s -13-0 -1.32%
Soybeans Jan 18 981-6s -12-6 -1.28%
Soybeans Mar 18 990-6s -12-6 -1.27%
Soybeans May 18 999-2s -12-2 -1.21%
Soybeans Jul 18 1006-0s -11-6 -1.15%
Soybean Meal Oct 17 310.1s -4.9 -1.56%
Soybean Meal Jan 18 316.4s -4.6 -1.43%
Soybean Oil Oct 17 33.78s -0.21 -0.62%
Soybean Oil Dec 17 34.01s -0.21 -0.61%
Soybean Oil Jan 18 34.17s -0.21 -0.61%
Corn Dec 17 353-6s +0-2 +0.07%
Corn Mar 18 366-4s +0-4 +0.14%
Corn May 18 374-6s +0-2 +0.07%
Corn Jul 18 381-6s +0-2 +0.07%
Corn Sep 18 388-2s +0-2 +0.06%
Oats Dec 17 250-6s +2-6 +1.11%
Oats Mar 18 255-4s +0-6 +0.29%
Oats May 18 255-2s unch unch
Oats Jul 18 253-0s +0-2 +0.10%
Oats Sep 18 253-0s +0-2 +0.10%
Wheat Dec 17 454-0s +4-4 +1.00%
Wheat Mar 18 473-6s +4-2 +0.91%
Wheat May 18 487-0s +4-0 +0.83%
Wheat Jul 18 497-4s +3-2 +0.66%
Wheat Sep 18 511-6s +2-4 +0.49%
Spring Wheat Dec 17 648-6s +14-0 +2.21%
Spring Wheat Mar 18 660-6s +14-6 +2.28%
Spring Wheat Jul 18 661-0s +13-4 +2.08%
Spring Wheat Sep 18 646-0s +9-2 +1.45%
Hard Red Wheat Dec 17 454-0s +3-6 +0.83%
Hard Red Wheat Mar 18 472-0s +4-0 +0.85%
Hard Red Wheat May 18 484-4s +4-0 +0.83%
Hard Red Wheat Jul 18 501-4s +4-0 +0.80%
Hard Red Wheat Sep 18 519-6s +3-6 +0.73%
Live Cattle Oct 17 109.225s -2.350 -2.11%
Live Cattle Dec 17 114.425s -3.000 -2.55%
Live Cattle Feb 18 117.250s -2.800 -2.33%
Feeder Cattle Sep 17 150.475s -2.925 -1.91%
Feeder Cattle Oct 17 151.600s -4.500 -2.88%
Feeder Cattle Nov 17 153.125s -4.500 -2.85%
Lean Hogs Oct 17 56.325s +0.625 +1.12%
Lean Hogs Dec 17 57.425s +0.800 +1.41%
Lean Hogs Feb 18 62.600s +0.700 +1.13%
