Canola dips with soyoil

Winnipeg (CNS Canada) – The ICE Futures Canada canola complex finished lower on Friday, tracking losses in U.S. soyoil.

Fund selling was also a feature of the day.

“It felt like we want to higher but there has been all this outside market carnage,” said a trader in Winnipeg. “The equities were getting pounded this week.”

Losses in U.S. soybeans added to the downside.

However, demand from end-users remains strong.

The Canadian dollar remains stuck around the 79 U.S. cent mark, which made canola more attractive to domestic crushers and foreign buyers.

Around 20,094 canola contracts were traded on Friday, which compares with Thursday when around 27,082 contracts changed hands. Spreading accounted for 15,464 of the contracts traded.

Settlement prices are in Canadian dollars per metric tonne.

Soybean futures on the Chicago Board of Trade trended lower on Friday as rain continued to fall on parched regions of Argentina.

Yesterday’s bearish USDA report continued to weigh on values.

Strength in soymeal limited the losses.

The corn market ended weaker as traders booked profits before the weekend.

The market was also undergoing a slight correction after reaching its highest point since late 2017.

China is buying more corn from Ukraine these days. China is limiting the amount of genetically modified foodstuffs it accepts and U.S. corn is starting to bear the brunt.

Chicago wheat futures softened with technical selling on Friday.

Moisture is forecast to fall in key areas of the U.S. Southern Plains, which was bearish.

Algeria has placed an order for 150,000 tonnes of durum wheat and early indications are that it will likely come from Canada.

 

OUTSIDE MARKETS

Light crude oil nearby futures in New York were down $1.95 at US$59.20 per barrel.

In the afternoon, the Canadian dollar was trading around US79.46 cents, up from 79.35 cents the previous trading day. The U.S. dollar was C$1.2585.

 

Winnipeg ICE Futures Canada dollars per tonne.

Canola Mar 18 497.90s -1.40 -0.28%

Canola May 18 503.50s -2.00 -0.40%

Canola Jul 18 508.60s -1.60 -0.31%

Canola Nov 18 505.20s -2.50 -0.49%

Canola Jan 19 509.60s -2.40 -0.47%

 

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 Mar 18 983-0s -4-6 -0.48%

Soybeans May 18 993-4s -5-2 -0.53%

Soybeans Jul 18 1003-4s -4-6 -0.47%

Soybeans Aug 18 1005-0s -4-6 -0.47%

Soybeans Sep 18 1000-2s -4-6 -0.47%

 

Soybean Meal Mar 18 343.8s +2.1 +0.61%

Soybean Meal May 18 346.6s +1.5 +0.43%

Soybean Meal Jul 18 347.6s +1.2 +0.35%

 

Soybean Oil Mar 18 31.96s -0.25 -0.78%

Soybean Oil May 18 32.15s -0.25 -0.77%

Soybean Oil Jul 18 32.34s -0.25 -0.77%

 

Corn Mar 18 362-0s -3-6 -1.03%

Corn May 18 369-6s -3-4 -0.94%

Corn Jul 18 377-4s -3-4 -0.92%

Corn Sep 18 384-2s -3-0 -0.77%

Corn Dec 18 392-2s -2-6 -0.70%

 

Oats Mar 18 266-4s -3-0 -1.11%

Oats May 18 267-6s -1-4 -0.56%

Oats Jul 18 266-2s -0-2 -0.09%

Oats Sep 18 265-2s +0-6 +0.28%

Oats Dec 18 263-6s +1-0 +0.38%

 

Wheat Mar 18 449-0s -7-2 -1.59%

Wheat May 18 461-0s -8-2 -1.76%

Wheat Jul 18 474-6s -7-6 -1.61%

Wheat Sep 18 489-6s -7-2 -1.46%

Wheat Dec 18 509-6s -6-6 -1.31%

 

Minneapolis

Spring Wheat Mar 18 603-4s -9-4 -1.55%

Spring Wheat May 18 615-6s -9-4 -1.52%

Spring Wheat Jul 18 625-2s -9-2 -1.46%

Spring Wheat Sep 18 629-2s -8-4 -1.33%

Spring Wheat Dec 18 636-0s -7-6 -1.20%

 

Kansas City

Hard Red Wheat Mar 18 465-4s -9-0 -1.90%

Hard Red Wheat May 18 480-4s -9-0 -1.84%

Hard Red Wheat Jul 18 497-2s -9-0 -1.78%

Hard Red Wheat Sep 18 513-4s -8-4 -1.63%

Hard Red Wheat Dec 18 533-2s -8-4 -1.57%

 

Chicago livestock futures in US¢/pound, Pit trade

Live Cattle Feb 18 126.525s +0.750 +0.60%

Live Cattle Apr 18 123.625s -0.100 -0.08%

Live Cattle Jun 18 115.425s -0.100 -0.09%

 

Feeder Cattle Mar 18 146.200s -1.050 -0.71%

Feeder Cattle Apr 18 147.750s -0.900 -0.61%

Feeder Cattle May 18 148.325s -0.600 -0.40%

 

Lean Hogs Feb 18 73.175s -0.225 -0.31%

Lean Hogs Apr 18 68.850s -0.600 -0.86%

Lean Hogs May 18 74.775s -0.250 -0.33%

 

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