Soy oil price movements continued to dominate the oilseed markets Thursday as it gave back some of Wednesday’s advance.
Soy oil fell even though American crushers say the amount of oil squeezed from this year’s soybean crop is below normal.
The National Oilseed Processors Association said said its members reported an oil yield of 11.54 pounds per bushel last month, down from 11.61 lb. in the same month last year and the lowest monthly yield since November 2015.
Almost all crop futures fell on Thursday as the weekly export sale report from the USDA disappointed.
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Export sales of corn and soybeans this season are lagging the pace needed to reach the latest full-year export forecasts, partly due to stiff competition from South American shipments.
Also, the improving weather picture in Brazil weighed down crop futures.
Widespread rains across much or Brazil are expected over the next two weeks.
Malaysian palm oil has been falling this week on a rise in the local currency and on weaker crude oil markets.
Wheat was up a little.
OUTSIDE MARKETS
Light crude oil nearby futures in New York were down 19 cents at US$55.14 per barrel.
In the afternoon, the Canadian dollar was trading around US78.41 cents, up slightly from 78.33 cents the previous trading day. The U.S. dollar was C$1.2753.
The Toronto Stock Exchange composite closed up 56.89 points or 0.36 percent at 15,935.37.
A strong quarterly report from Wal-Mart and the U.S. House of Representative passing the tax reform bill lifted American stock indexes.
The Dow Jones Industrial Average rose 187.01 points, or 0.8 percent, to 23,458.29, the S&P 500 gained 21.04 points, or 0.82 percent, to 2,585.66 and the Nasdaq Composite added 87.08 points, or 1.3 percent, to 6,793.29.
Winnipeg ICE Futures Canada dollars per tonne.
Canola Jan 18 517.40s -1.80 -0.35%
Canola Mar 18 525.10s -1.40 -0.27%
Canola May 18 529.00s -2.00 -0.38%
Canola Jul 18 531.80s -2.20 -0.41%
Canola Nov 18 504.20s -2.30 -0.45%
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
Soybeans Jan 18 972-0s -4-2 -0.44%
Soybeans Mar 18 983-2s -4-0 -0.41%
Soybeans May 18 992-6s -4-0 -0.40%
Soybeans Jul 18 1001-4s -3-4 -0.35%
Soybeans Aug 18 1003-0s -4-0 -0.40%
Soybean Meal Dec 17 310.5s -0.8 -0.26%
Soybean Meal Jan 18 312.5s -0.9 -0.29%
Soybean Meal Mar 18 315.5s -1.0 -0.32%
Soybean Oil Dec 17 34.43s -0.32 -0.92%
Soybean Oil Jan 18 34.59s -0.29 -0.83%
Soybean Oil Mar 18 34.81s -0.27 -0.77%
Corn Dec 17 336-4s -1-6 -0.52%
Corn Mar 18 349-0s -2-0 -0.57%
Corn May 18 357-4s -1-6 -0.49%
Corn Jul 18 365-2s -1-6 -0.48%
Corn Sep 18 372-4s -1-6 -0.47%
Oats Dec 17 262-2s -7-0 -2.60%
Oats Mar 18 277-2s -3-0 -1.07%
Oats May 18 284-4s -2-2 -0.78%
Oats Jul 18 288-2s unch unch
Oats Sep 18 285-6s -2-2 -0.78%
Wheat Dec 17 421-4s +1-4 +0.36%
Wheat Mar 18 438-0s +0-2 +0.06%
Wheat May 18 449-6s -0-2 -0.06%
Wheat Jul 18 462-6s -0-6 -0.16%
Wheat Sep 18 477-4s -0-4 -0.10%
Minneapolis
Spring Wheat Dec 17 630-2s +5-4 +0.88%
Spring Wheat Mar 18 645-2s +6-0 +0.94%
Spring Wheat May 18 652-0s +6-4 +1.01%
Spring Wheat Jul 18 652-4s +6-4 +1.01%
Spring Wheat Sep 18 637-6s +0-4 +0.08%
Kansas City
Hard Red Wheat Dec 17 417-0s -0-6 -0.18%
Hard Red Wheat Mar 18 434-4s -0-6 -0.17%
Hard Red Wheat May 18 447-2s -0-6 -0.17%
Hard Red Wheat Jul 18 465-0s -0-2 -0.05%
Hard Red Wheat Sep 18 482-2s -0-2 -0.05%
Chicago livestock futures in US¢/pound, Pit trade
Live Cattle Dec 17 119.550s -0.650 -0.54%
Live Cattle Feb 18 125.125s -0.625 -0.50%
Live Cattle Apr 18 125.375s -0.900 -0.71%
Feeder Cattle Nov 17 157.775s -0.225 -0.14%
Feeder Cattle Jan 18 153.900s -0.350 -0.23%
Feeder Cattle Mar 18 152.100s -0.300 -0.20%
Lean Hogs Dec 17 60.100s -1.025 -1.68%
Lean Hogs Feb 18 66.575s -0.875 -1.30%
Lean Hogs Apr 18 70.875s -0.750 -1.05%
