Canola edges higher Wednesday on snow, rain

Canola futures edged higher Wednesday, supported by snow and rain that stalled harvest in parts of Alberta and Saskatchewan.

Solid demand continues for the oilseed and the generally weak Canadian dollar also provides support, although the loonie did edge higher today.

WATCH THIS WEEK’S VIDEO CROP MARKETS UPDATE

Soybeans did not help canola today. Soy drifted lower through the day’s trade.

U.S. crop futures generally fell as the trade thinks that the strong American dollar could discourage grain exports.

Rapid American exports have offset the price-negative effect of a record large soybean crop. If exports fall off, then the trade’s attention will focus on the ample supply.

Also, Brazil’s soybean planting is going well and there is no weather problem. Early planted soybeans are already starting to bloom according to Soybean and Corn Advisor.

Planting in Argentina is behind schedule because of cool, wet conditions, it said.

The concern about the rising U.S. dollar’s effect on exports also weighed on corn and wheat.

Light crude oil nearby futures in New York were down 24 cents to US$45.57 per barrel.

The Canadian dollar at noon was US74.54 cents, up from 74.25 cents the previous trading day. The U.S. dollar at noon was C$1.3416.

The TSX composite fell 22.88 points or 0.16 percent to closed at 14,733.22.

The Dow Jones industrial average closed down 54.92 points, or 0.29 percent, to 18,868.14, the S&P 500 lost 3.45 points, or 0.16 percent, to 2,176.94 and the Nasdaq Composite added 18.96 points, or 0.36 percent, to 5,294.58.

 

Winnipeg ICE Futures Canada dollars per tonne

Canola Jan 2017   512.60   +1.50   +0.29%

Canola Mar 2017   519.60   +1.60   +0.31%

Canola May 2017   523.40   +2.30   +0.44%

Canola Jul 2017   524.50   +2.50   +0.48%

Canola Nov 2017   507.90   +1.20   +0.24%

 

Milling Wheat Dec 2016   230.00   +2.00   +0.88%

Milling Wheat Mar 2017   233.00   +1.00   +0.43%

Milling Wheat May 2017   236.00   unch   0.00%

 

Durum Wheat Dec 2016   329.00   unch   0.00%

Durum Wheat Mar 2017   340.00   unch   0.00%

Durum Wheat May 2017   343.00   unch   0.00%

 

Barley Dec 2016   132.50   unch   0.00%

Barley Mar 2017   134.50   unch   0.00%

Barley May 2017   135.50   unch   0.00%

 

American crop prices in cents US/bushel, soybean meal in $US/short ton, soy oil in cents US/pound

 

Chicago

Soybeans Jan 2017   985.75   -3.75   -0.38%

Soybeans Mar 2017   994.50   -3.50   -0.35%

Soybeans May 2017   1002.50   -3.00   -0.30%

Soybeans Jul 2017   1008.50   -2.25   -0.22%

Soybeans Aug 2017   1008.00   -2.00   -0.20%

Soybeans Sep 2017   996.25   -0.50   -0.05%

 

Soybean Meal Dec 2016   308.40   -1.70   -0.55%

Soybean Meal Jan 2017   310.70   -1.60   -0.51%

Soybean Meal Mar 2017   313.00   -1.40   -0.45%

 

Soybean Oil Dec 2016   34.10   -0.11   -0.32%

Soybean Oil Jan 2017   34.36   -0.10   -0.29%

Soybean Oil Mar 2017   34.61   -0.09   -0.26%

 

Corn Dec 2016   338.50   -3.00   -0.88%

Corn Mar 2017   346.50   -2.75   -0.79%

Corn May 2017   353.50   -3.00   -0.84%

Corn Jul 2017   360.25   -3.25   -0.89%

Corn Sep 2017   367.50   -2.75   -0.74%

 

Oats Dec 2016   233.50   +0.50   +0.21%

Oats Mar 2017   232.50   +1.00   +0.43%

Oats May 2017   229.75   +0.50   +0.22%

Oats Jul 2017   232.25   +0.75   +0.32%

Oats Sep 2017   227.50   +0.75   +0.33%

 

Wheat Dec 2016   397.00   -2.00   -0.50%

Wheat Mar 2017   414.25   -4.50   -1.07%

Wheat May 2017   428.00   -4.25   -0.98%

Wheat Jul 2017   442.75   -4.00   -0.90%

Wheat Sep 2017   458.75   -4.00   -0.86%

 

Minneapolis

Spring Wheat Dec 2016   518.50   +3.75   +0.73%

Spring Wheat Mar 2017   518.75   +0.75   +0.14%

Spring Wheat May 2017   524.50   unch   0.00%

Spring Wheat Jul 2017   531.00   -0.50   -0.09%

Spring Wheat Sep 2017   538.00   -1.00   -0.19%

 

Kansas City

Hard Red Wheat Dec 2016   403.50   -4.50   -1.10%

Hard Red Wheat Mar 2017   420.75   -4.75   -1.12%

Hard Red Wheat May 2017   432.75   -4.50   -1.03%

Hard Red Wheat Jul 2017   444.00   -4.50   -1.00%

Hard Red Wheat Sep 2017   458.50   -4.50   -0.97%

 

Chicago livestock futures in US¢/pound (rounded to two decimal places)

Live Cattle (P) Dec 2016   108.20   +2.73   +2.59%

Live Cattle (P) Feb 2017   108.50   +1.97   +1.85%

Live Cattle (P) Apr 2017   108.62   +1.67   +1.56%

 

Feeder Cattle (P) Nov 2016   126.98   +0.38   +0.30%

Feeder Cattle (P) Jan 2017   125.32   +2.29   +1.86%

Feeder Cattle (P) Mar 2017   121.05   +2.27   +1.91%

 

Lean Hogs (P) Dec 2016  48.02   +1.90   +4.12%

Lean Hogs (P) Feb 2017   54.52   +1.62   +3.06%

Lean Hogs (P) Apr 2017   61.75   +1.53   +2.54%

 

 

 

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