There was a modest rebound in Chicago wheat futures and in corn on Wednesday but generally the crop market was quiet.
Canola edged higher on a weaker loonie.
The trade is balancing its positions ahead of the Statistics Canada production report next week.
BRAZIL
Brazilian analysts say the improved soil moisture conditions in much of the country will result in rising production forecasts. The average of four analysts polled by Reuters pegged the crop at just over 109 million tonnes, up from the current USDA forecast of 108 million, but some of the analysts expect the crop to easily top 110 million.
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U.S. livestock: Cattle futures rise as Cattle on Feed report shows lower inventory
Cattle futures climbed again on Friday as USDA data showed a continued decline in cattle on feed. Hogs also rose.
OUTSIDE MARKETS
Oil prices were pressured by conflicting statements from oil ministers a day ahead of OPEC’s meeting in Vienna, as members debate the path for an extension of the group’s supply-cut agreement, Reuters reported.
Light crude oil nearby futures in New York were down 69 cents at US$57.30 per barrel.
In the afternoon, the Canadian dollar was trading around US77.73 cents, down from 78.00 cents the previous trading day. The U.S. dollar was C$1.2865.
The Toronto Stock Exchange’s S&P/TSX composite index closed down 61.92 points, or 0.39 percent, to 15,967.72.
The Commerce Department today revised upward its U.S. gross domestic product growth estimate to a 3.3 percent annual rate for the third quarter.
That was up from a previous estimate of three percent.
That was the fastest pace since the third quarter of 2014 and a pickup from the second quarter’s 3.1 percent rate.
The Dow Jones Industrial Average rose 103.97 points, or 0.44 percent, to 23,940.68, the S&P 500 lost 0.97 point, or 0.04 percent, to 2,626.07 and the Nasdaq Composite dropped 88.02 points, or 1.27 percent, to 6,824.34
Winnipeg ICE Futures Canada dollars per tonne.
Canola Jan 18 510.40s +1.70 +0.33%
Canola Mar 18 519.40s +2.00 +0.39%
Canola May 18 525.50s +1.80 +0.34%
Canola Jul 18 528.80s +1.80 +0.34%
Canola Nov 18 506.50s +1.40 +0.28%
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 18 992-4s -0-4 -0.05%
Soybeans Mar 18 1004-2s -0-4 -0.05%
Soybeans May 18 1014-4s -0-2 -0.02%
Soybeans Jul 18 1023-0s unch unch
Soybeans Aug 18 1023-4s -0-2 -0.02%
Soybean Meal Dec 17 325.0s +1.5 +0.46%
Soybean Meal Jan 18 327.3s +1.5 +0.46%
Soybean Meal Mar 18 330.7s +1.3 +0.39%
Soybean Oil Dec 17 33.95s -0.05 -0.15%
Soybean Oil Jan 18 34.07s -0.06 -0.18%
Soybean Oil Mar 18 34.29s -0.07 -0.20%
Corn Dec 17 339-0s +2-6 +0.82%
Corn Mar 18 353-4s +3-6 +1.07%
Corn May 18 361-4s +3-4 +0.98%
Corn Jul 18 369-6s +3-4 +0.96%
Corn Sep 18 377-0s +3-2 +0.87%
Oats Dec 17 246-4s +1-6 +0.72%
Oats Mar 18 263-6s +2-6 +1.05%
Oats May 18 270-0s +3-6 +1.41%
Oats Jul 18 275-0s +4-2 +1.57%
Oats Sep 18 277-0s +4-2 +1.56%
Wheat Dec 17 416-4s +5-6 +1.40%
Wheat Mar 18 434-6s +5-4 +1.28%
Wheat May 18 446-0s +5-2 +1.19%
Wheat Jul 18 458-6s +4-4 +0.99%
Wheat Sep 18 472-4s +3-4 +0.75%
Minneapolis
Spring Wheat Dec 17 603-4s unch unch
Spring Wheat Mar 18 623-2s +1-2 +0.20%
Spring Wheat May 18 630-2s +2-0 +0.32%
Spring Wheat Jul 18 632-4s -0-2 -0.04%
Spring Wheat Sep 18 629-2s -1-0 -0.16%
Kansas City
Hard Red Wheat Dec 17 413-2s +4-0 +0.98%
Hard Red Wheat Mar 18 431-4s +3-6 +0.88%
Hard Red Wheat May 18 444-2s +3-6 +0.85%
Hard Red Wheat Jul 18 461-2s +3-0 +0.65%
Hard Red Wheat Sep 18 478-4s +2-4 +0.53%
Chicago livestock futures in US¢/pound, Pit trade
Live Cattle Dec 17 120.475s +0.825 +0.69%
Live Cattle Feb 18 126.600s +0.925 +0.74%
Live Cattle Apr 18 127.100s +0.700 +0.55%
Feeder Cattle Jan 18 155.575s +1.075 +0.70%
Feeder Cattle Mar 18 153.775s +0.950 +0.62%
Feeder Cattle Apr 18 153.625s +0.775 +0.51%
Lean Hogs Dec 17 65.075s -0.675 -1.03%
Lean Hogs Feb 18 70.900s -0.625 -0.87%
Lean Hogs Apr 18 75.050s -0.100 -0.13%
