Canola down on an up-markets day

The Canadian dollar continued higher today, further softening canola trades, with that crop being down between $3.70 and $3.30 per tonne on the day. It finished for January at $478.40 today on ICE. Elevator prices for cash canola ranged from $458 to $462.

Wheat fared better, up slightly for hard red spring, finding prices of about $248 to $250 in southeastern Saskatchewan and in southern Manitoba. In southern Alberta it was paying $269, $265 in the north and $258 in the Peace. Northwestern Saskatchewan saw prices in the high $250s. Those prices were established on the Alberta Wheat Commission’s PDQ system.

Durum remained under pressure today, bringing $229 in southeastern Saskatchewan and $234 in western Manitoba, while southern Alberta was bidding about $226. Supplies of high quality durum are tighter than expected, say some buyers, or producers are refraining from delivery under the current market.

Soybeans were up about one percent on American markets on speculation that the United States administration is quietly working toward improving relations with China. As well, continued dry conditions in Brazil might limit yields for that crop. Aprosoja Brasil, a farm association in Brazil, cut its expectations for the 2018-19 soybean crop by about 147 million bu. this week. It feels production could be as low as 4.042 billion bu., down as much as 10 percent from some earlier estimates.

Corn too saw improved prices, rising US3.25 cents per bushel on the March contract in Chicago. Minneapolis wheat was up a nickel to finish at US$5.70 per bu. Winter wheat on Chicago was up 3.25 cents, reaching $5.17. China remains a seller of its wheat reserves, and that may be contributing to wheat price optimism in the market.

The USDA has announced it will not deliver several of its key agricultural reports until after the government resumes being funded. This includes the World Agricultural Supply and Demand Estimates.

 

Name / Contract High Low Last Change Settlement
Canola Jan 2019 (updated 1:19PM(CST) on 1/4/2019) 482.10 482.10 478.40 -3.70 478.40
Canola Mar 2019 (updated 1:19PM(CST) on 1/4/2019) 490.10 485.20 485.40 -3.70 485.40
Canola May 2019 (updated 1:16PM(CST) on 1/4/2019) 497.90 493.50 493.90 -3.10 493.90
Canola Jul 2019 (updated 1:16PM(CST) on 1/4/2019) 504.80 500.30 500.60 -3.40 500.60
Canola Nov 2019 (updated 1:16PM(CST) on 1/4/2019) 502.50 497.30 497.80 -3.50 497.80
Soybeans Jan 2019 910.00 898.25 909.50 9.25 909.50
Soybeans Mar 2019 922.50 910.00 922.25 9.50 922.25
Soybeans May 2019 935.25 923.00 935.25 9.75 935.25
Soybeans Jul 2019 946.75 934.25 946.75 9.50 946.75
Soybeans Aug 2019 950.75 940.00 950.50 8.75 950.50
Soybeans Sep 2019 951.75 941.50 951.75 8.75 951.75
Soybean Meal Jan 2019 316.10 312.00 315.80 3.10 315.80
Soybean Meal Mar 2019 320.30 315.60 319.70 3.00 319.70
Soybean Meal May 2019 323.40 319.00 323.00 3.00 323.00
Soybean Oil Jan 2019 28.45 28.22 28.35 0.17 28.35
Soybean Oil Mar 2019 28.70 28.39 28.64 0.21 28.64
Soybean Oil May 2019 28.95 28.64 28.87 0.18 28.87
Corn Mar 2019 383.50 379.75 382.75 3.00 382.75
Corn May 2019 391.25 387.50 390.50 3.00 390.50
Corn Jul 2019 398.50 394.50 397.75 3.00 397.75
Corn Sep 2019 400.00 396.50 399.75 2.75 399.75
Corn Dec 2019 404.25 400.25 403.50 2.50 403.50
Oats Mar 2019 280.25 277.50 279.75 1.25 279.75
Oats May 2019 280.75 278.50 280.25 0.75 280.25
Oats Jul 2019 281.50 281.50 281.50 -0.25 281.50
Oats Sep 2019 272.00 272.00 272.00 -0.50 272.00
Oats Dec 2019 270.50 261.50 263.25 -7.00 263.25
Wheat Mar 2019 518.75 513.00 516.00 2.25 516.00
Wheat May 2019 524.25 519.25 521.75 1.75 521.75
Wheat Jul 2019 531.25 526.75 528.75 1.75 528.75
Wheat Sep 2019 540.75 537.00 538.50 1.50 538.50
Wheat Dec 2019 555.00 551.00 552.50 0.75 552.50
Spring Wheat Mar 2019 573.00 565.25 569.50 4.25 569.50
Spring Wheat May 2019 578.00 572.25 574.75 4.25 574.75
Spring Wheat Jul 2019 584.25 578.25 581.25 4.00 581.25
Spring Wheat Sep 2019 591.50 586.50 588.75 4.00 588.75
Spring Wheat Dec 2019 605.00 600.00 601.75 3.00 601.75
Hard Red Wheat Mar 2019 508.75 503.50 505.00 1.50 505.00
Hard Red Wheat May 2019 519.75 515.00 516.25 1.50 516.25
Hard Red Wheat Jul 2019 530.25 525.50 526.75 1.25 526.75
Hard Red Wheat Sep 2019 541.75 537.75 538.50 0.75 538.50
Hard Red Wheat Dec 2019 558.50 554.50 555.25 0.50 555.25
Live Cattle (Pit) Feb 2019 121.93 121.93 121.93 -1.30 121.93
Live Cattle (Pit) Apr 2019 124.00 124.00 124.00 -1.40 124.00
Live Cattle (Pit) Jun 2019 115.55 115.55 115.55 -1.23 115.55
Feeder Cattle (Pit) Jan 2019 144.90 144.90 144.90 -1.63 146.53
Feeder Cattle (Pit) Mar 2019 142.83 142.83 142.83 -1.63 144.45
Feeder Cattle (Pit) Apr 2019 143.65 143.65 143.65 -1.58 145.23
Lean Hogs (Pit) Feb 2019 61.95 61.95 61.95 -0.20 61.95
Lean Hogs (Pit) Apr 2019 66.75 66.75 66.75 -0.68 66.75
Lean Hogs (Pit) May 2019 73.45 73.45 73.45 -0.58 73.45
Canadian Dollar Jan 2019 0.7469 0.7433 0.7465 0.0043 0.7465
Crude Oil WTI Feb 2019 49.22 46.65 48.09 1.00 48.09

 

 

Prices updated at 1:20PM(CST) on 1/4/2019

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