Canola fell Monday, but stayed within the rising channel it has occupied since late September.
January futures fell $2.30 per tonne to $516.90, keeping it near the $520 highs and resistance that have held since mid-July.
Currency changes continue to affect the canola market, with the Canadian dollar’s recent slide to less than US78 cents from the 80-cent level lending support to canola prices.
Broker Ken Ball of P.I. Financial expects to see prices correlate with currency fluctuations.
The U.S. corn and soybean harvests continue.
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Brazilian crops are being planted at an average pace. The moisture situation is improving there.
Most crop futures moved only a little Monday.
US HARVEST
After the markets closed the USDA said that 54 percent of the corn crop had been harvested, up from 38 percent the week before, but still behind the five year average of 72 percent.
The soybean harvest was at 83 percent, up from 70 percent the previous week and in line with the five year average of 84 percent.
Winter wheat seeding made good progress, rising to 84 percent complete, up from 75 percent the week before and only a little behind the five year average of 87 percent.
Emergence is at 65 percent, compared to the five year average of 68 percent.
OUTSIDE MARKETS
Light crude oil nearby futures in New York were up 25 cents at US$54.15 per barrel.
In the afternoon, the Canadian dollar was trading around US77.95 cents, little changed from 77.96 cents the previous trading day. The U.S. dollar was C$1.2828.
Winnipeg ICE Futures Canada dollars per tonne
Canola Nov 17 506.90s -3.30 -0.65%
Canola Jan 18 516.90s -2.30 -0.44%
Canola Mar 18 522.70s -2.60 -0.49%
Canola May 18 525.60s -2.40 -0.45%
Canola Jul 18 527.10s -2.10 -0.40%
The milling wheat, durum and barley contracts were delisted.
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 Nov 17 972-6s -2-4 -0.26%
Soybeans Jan 18 984-4s -2-0 -0.20%
Soybeans Mar 18 995-0s -1-6 -0.18%
Soybeans May 18 1004-0s -2-0 -0.20%
Soybeans Jul 18 1012-2s -1-2 -0.12%
Soybean Meal Dec 17 312.3s +0.2 +0.06%
Soybean Meal Jan 18 314.3s +0.2 +0.06%
Soybean Meal Mar 18 317.4s +0.2 +0.06%
Soybean Oil Dec 17 34.68s -0.16 -0.46%
Soybean Oil Jan 18 34.84s -0.17 -0.49%
Soybean Oil Mar 18 35.05s -0.16 -0.45%
Corn Dec 17 348-6s unch unch
Corn Mar 18 362-6s +0-2 +0.07%
Corn May 18 371-4s +0-2 +0.07%
Corn Jul 18 379-0s +0-2 +0.07%
Corn Sep 18 385-6s +0-2 +0.06%
Oats Dec 17 263-2s -2-0 -0.75%
Oats Mar 18 268-0s -0-4 -0.19%
Oats May 18 272-2s +0-2 +0.09%
Oats Jul 18 272-2s +0-2 +0.09%
Oats Sep 18 272-2s +0-2 +0.09%
Wheat Dec 17 424-6s -2-4 -0.59%
Wheat Mar 18 443-0s -2-2 -0.51%
Wheat May 18 456-4s -2-6 -0.60%
Wheat Jul 18 470-6s -3-2 -0.69%
Wheat Sep 18 487-0s -3-0 -0.61%
MINNEAPOLIS
Spring Wheat Dec 17 618-4s +1-4 +0.24%
Spring Wheat Mar 18 631-2s +2-6 +0.44%
Spring Wheat May 18 638-4s +3-0 +0.47%
Spring Wheat Jul 18 643-0s +3-6 +0.59%
Spring Wheat Sep 18 637-6s +4-6 +0.75%
KANSAS
Hard Red Wheat Dec 17 421-6s -3-4 -0.82%
Hard Red Wheat Mar 18 439-6s -3-2 -0.73%
Hard Red Wheat May 18 453-6s -3-2 -0.71%
Hard Red Wheat Jul 18 472-2s -2-4 -0.53%
Hard Red Wheat Sep 18 490-4s -2-4 -0.51%
Chicago livestock futures in US¢/pound, Pit trade
Live Cattle (Pit) Oct 17 119.575s +4.200 +3.64%
Live Cattle (Pit) Dec 17 123.400s +2.575 +2.13%
Live Cattle (Pit) Feb 18 127.450s +1.700 +1.35%
Feeder Cattle (Pit) Nov 17 158.325s +1.850 +1.18%
Feeder Cattle (Pit) Jan 18 157.350s +1.400 +0.90%
Feeder Cattle (Pit) Mar 18 154.125s +1.125 +0.74%
Lean Hogs (Pit) Dec 17 65.175s +0.725 +1.12%
Lean Hogs (Pit) Feb 18 71.050s +0.800 +1.14%
Lean Hogs (Pit) Apr 18 74.600s +0.350 +0.47%
