Canola drops; soy closes up

ICE Futures canola contracts were lower on Friday, as speculative positioning weighed on values to end the week.

The market held steady within a rather narrow trading range over the past week between, trading between C$495 and C$499 per tonne in the most active November contract.

Seasonal harvest pressure and anecdotal reports of better-than-expected yields accounted for some of Friday’s weakness, according to participants. Losses in Chicago Board of Trade soyoil also weighed on values.

However, CBOT soybeans settled higher, which provided some support. Concerns over possible frost damage in parts of Western Canada also helped underpin the futures, and traders were still trying to get a better handle on the impact on yields of recent cold weather.

About 12,000 canola contracts traded, which compares with Thursday when 13,176 contracts changed hands. Spreading accounted for 4,718 of the contracts traded

OUTSIDE MARKETS

Light crude oil nearby futures in New York was down two cents at US$67.75 per barrel.

In the afternoon, the Canadian dollar was trading around US75.96 cents, up from 75.83 cents the previous trading day. The U.S. dollar was C$1.3164.

Winnipeg ICE Futures Canada dollars per tonne.

Canola Nov 18 495.50s -2.80 -0.56%

Canola Jan 19 501.60s -3.20 -0.63%

Canola Mar 19 506.70s -3.10 -0.61%

Canola May 19 510.40s -2.90 -0.56%

Canola Jul 19 513.30s -2.50 -0.48%

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 Sep 18 832-0s +5-2 +0.64%

Soybeans Nov 18 844-0s +4-6 +0.57%

Soybeans Jan 19 857-2s +5-0 +0.59%

Soybeans Mar 19 870-2s +5-0 +0.58%

Soybeans May 19 882-0s +5-0 +0.57%

 

Soybean Meal Sep 18 314.2s +3.2 +1.03%

Soybean Meal Oct 18 314.7s +2.8 +0.90%

Soybean Meal Dec 18 317.0s +3.0 +0.96%

 

Soybean Oil Sep 18 27.94s -0.22 -0.78%

Soybean Oil Oct 18 28.04s -0.24 -0.85%

Soybean Oil Dec 18 28.27s -0.26 -0.91%

 

Corn Sep 18 354-2s +0-6 +0.21%

Corn Dec 18 367-0s +0-6 +0.20%

Corn Mar 19 379-2s +1-0 +0.26%

Corn May 19 387-0s +1-2 +0.32%

Corn Jul 19 392-6s +0-6 +0.19%

 

Oats Sep 18 234-4s +0-2 +0.11%

Oats Dec 18 247-2s +0-2 +0.10%

Oats Mar 19 252-0s +0-2 +0.10%

Oats May 19 255-0s +0-2 +0.10%

Oats Jul 19 257-4s unch unch

 

Wheat Sep 18 486-2s +0-2 +0.05%

Wheat Dec 18 511-2s -2-4 -0.49%

Wheat Mar 19 531-4s -3-4 -0.65%

Wheat May 19 544-6s -4-2 -0.77%

Wheat Jul 19 542-6s -4-4 -0.82%

 

Minneapolis

Spring Wheat Sep 18 555-2s -0-4 -0.09%

Spring Wheat Dec 18 570-0s -1-6 -0.31%

Spring Wheat Mar 19 586-4s -1-0 -0.17%

Spring Wheat May 19 595-2s -1-4 -0.25%

Spring Wheat Jul 19 603-0s -1-4 -0.25%

 

Kansas City

Hard Red Wheat Sep 18 488-4s -2-0 -0.41%

Hard Red Wheat Dec 18 514-6s -2-0 -0.39%

Hard Red Wheat Mar 19 536-0s -3-0 -0.56%

Hard Red Wheat May 19 548-6s -3-4 -0.63%

Hard Red Wheat Jul 19 548-2s -3-6 -0.68%

 

Chicago livestock futures in US¢/pound, Pit trade

Live Cattle Oct 18 109.950s +1.050 +0.96%

Live Cattle Dec 18 114.425s +0.700 +0.62%

Live Cattle Feb 19 118.250s +0.625 +0.53%

 

Feeder Cattle Sep 18 152.975s +1.200 +0.79%

Feeder Cattle Oct 18 152.950s +1.425 +0.94%

Feeder Cattle Nov 18 152.725s +1.300 +0.86%

 

Lean Hogs Oct 18 55.650s +0.675 +1.23%

Lean Hogs Dec 18 56.800s +0.125 +0.22%

Lean Hogs Feb 19 64.725s -0.125 -0.19%

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