Winnipeg – ICE Futures canola contracts were weaker on Tuesday, continuing their downward slide to fresh lows.
Losses in the Chicago Board of Trade soy complex, large Canadian canola supplies and bearish technical signals all weighed on values, according to participants.
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Feed Grains Weekly: Price likely to keep stepping back
As the harvest in southern Alberta presses on, a broker said that is one of the factors pulling feed prices lower in the region. Darcy Haley, vice-president of Ag Value Brokers in Lethbridge, added that lower cattle numbers in feedlots, plentiful amounts of grass for cattle to graze and a lacklustre export market also weighed on feed prices.
Meanwhile, end-users on the other side were content to watch the prices slide and were only buying on a scale-down basis.
SOYBEAN futures at the Chicago Board of Trade were weaker on Tuesday, as trade uncertainty weighed on values.
Optimism over trade talks between the United States and China had lent some overnight support to soybeans. However, with still no confirmation on any actual increase in Chinese soybean purchases the market turned lower.
Losses in Malaysian palm oil futures, the advancing Brazilian soybean harvest, and bearish technical signals added to the weaker tone.
The U.S. Department of Agriculture announced flash sales of 120,000 tonnes of soybeans to Mexico this morning.
CORN futures were weaker, taking some direction from soybeans and wheat.
Corn traders were also still looking for signs of increased purchases from China.
WHEAT ended mixed, with small gains in Minneapolis spring wheat and losses in the winter wheat contracts.
While the U.S. does continue to miss out on some export opportunities, Taiwan did purchase 110,000 tonnes of U.S. wheat in its latest tender.
OUTSIDE MARKETS
Light crude oil nearby futures in New York was up two cents at US$55.50 per barrel.
In the afternoon, the Canadian dollar was trading around US75.79 cents, down from 75.91 cents the previous trading day. The U.S. dollar was C$1.3195.
Winnipeg ICE Futures Canada dollars per tonne.
Canola Mar 19 467.60s -3.20 -0.68%
Canola May 19 474.80s -3.10 -0.65%
Canola Jul 19 482.80s -2.90 -0.60%
Canola Nov 19 486.30s -2.80 -0.57%
Canola Jan 20 492.10s -2.70 -0.55%
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.
Chicago
Soybean Mar 19 903-6s -8-0 -0.88%
Soybean May 19 917-0s -8-0 -0.86%
Soybean Jul 19 930-4s -8-0 -0.85%
Soybean Aug 19 936-2s -8-0 -0.85%
Soybean Sep 19 940-0s -7-4 -0.79%
Soybean Meal Mar 19 303.2s -2.2 -0.72%
Soybean Meal May 19 307.3s -2.1 -0.68%
Soybean Meal Jul 19 311.1s -2.1 -0.67%
Soybean Oil Mar 19 30.09s -0.27 -0.89%
Soybean Oil May 19 30.40s -0.28 -0.91%
Soybean Oil Jul 19 30.74s -0.28 -0.90%
Corn Mar 19 366-2s -4-2 -1.15%
Corn May 19 376-0s -4-0 -1.05%
Corn Jul 19 384-4s -3-6 -0.97%
Corn Sep 19 389-6s -3-0 -0.76%
Corn Dec 19 396-2s -2-2 -0.56%
Oats Mar 19 265-4s -3-4 -1.30%
Oats May 19 268-0s -4-0 -1.47%
Oats Jul 19 268-6s -5-0 -1.83%
Oats Sep 19 262-6s -3-0 -1.13%
Oats Dec 19 257-2s -2-0 -0.77%
Wheat Mar 19 460-2s -6-4 -1.39%
Wheat May 19 468-2s -4-4 -0.95%
Wheat Jul 19 475-2s -2-4 -0.52%
Wheat Sep 19 485-4s -2-0 -0.41%
Wheat Dec 19 500-4s -1-0 -0.20%
Minneapolis
Spring Wheat Mar 19 563-4s +2-4 +0.45%
Spring Wheat May 19 555-0s +2-0 +0.36%
Spring Wheat Jul 19 559-2s +2-2 +0.40%
Spring Wheat Sep 19 566-4s +2-4 +0.44%
Spring Wheat Dec 19 579-6s +2-0 +0.35%
Kansas City
Hard Red Wheat Mar 19 435-6s -6-4 -1.47%
Hard Red Wheat May 19 444-2s -6-0 -1.33%
Hard Red Wheat Jul 19 455-0s -4-4 -0.98%
Hard Red Wheat Sep 19 467-6s -3-6 -0.80%
Hard Red Wheat Dec 19 486-6s -3-0 -0.61%
Chicago livestock futures in US¢/pound, Pit trade
Live Cattle Feb 19 129.575s +1.025 +0.80%
Live Cattle Apr 19 129.925s +0.700 +0.54%
Live Cattle Jun 19 120.050s +0.450 +0.38%
Feeder Cattle Mar 19 143.450s +0.950 +0.67%
Feeder Cattle Apr 19 146.775s +1.125 +0.77%
Feeder Cattle May 19 147.900s +0.875 +0.60%
Lean Hogs Apr 19 55.725s +1.825 +3.39%
Lean Hogs May 19 65.325s +1.475 +2.31%
Lean Hogs Jun 19 75.550s +1.000 +1.34%
