Canola falls in tandem with soybeans

Canola contracts on the ICE Futures platform ended weaker Tuesday, following losses in Chicago Board of Trade soybeans.

Temperatures across Western Canada have dropped over the past few days, giving the crop a break from last week’s heat wave.

Funds remain short in the market as most analysts expect the oilseed harvest throughout North America to be very large.

Ideas that trade tensions between China and the United States were easing vanished with recent tweets by President Donald Trump.

About 10,821 canola contracts traded, which compares with Monday when 8,749 contracts changed hands. Spreading accounted for 2,864 of the contracts traded.

Settlement prices are in Canadian dollars per metric tonne.

Soybean futures on the Chicago Board of Trade recorded losses Tuesday with speculative selling.

The first leg of a crop tour hosted by ProFarmer in the United States found soybeans in good shape in Ohio. The group will release its official estimates on Friday.

Forecasts in the Midwest are calling for rain today and tomorrow followed by dryer weather on the weekend.

The corn market treaded lower Tuesday taking spillover losses from wheat futures.

Participants on the crop tour found some aborted corn kernels in Indiana. There were also signs that hot and dry weather has stressed some corn in Nebraska.

A hog virus outbreak in China continues to grow, driving up global pork prices. Demand for livestock feed could be affected.

The harvest in the United States continues to chug along with expectations that yields will be strong.

Drought problems in Australia continue to get worse.

OUTSIDE MARKETS

Light crude oil nearby futures in New York were up xx cents at US$67.32 per barrel.

In the afternoon, the Canadian dollar was trading around US76.71 cents. The U.S. dollar was C$1.4084.

 

Winnipeg ICE Futures Canada dollars per tonne.

Name / Contract Last Change % Change

Canola Nov 18 507.50s -4.40 -0.86%

Canola Jan 19 513.60s -4.30 -0.83%

Canola Mar 19 517.90s -4.20 -0.80%

Canola May 19 521.10s -4.40 -0.84%

Canola Jul 19 521.70s -4.40 -0.84%

 

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 18 874-4s -7-2 -0.82%

Soybeans Nov 18 886-0s -7-2 -0.81%

Soybeans Jan 19 898-6s -7-0 -0.77%

Soybeans Mar 19 910-2s -6-2 -0.68%

Soybeans May 19 921-0s -6-2 -0.67%

 

Soybean Meal Sep 18 324.9s -3.3 -1.01%

Soybean Meal Oct 18 325.7s -3.3 -1.00%

Soybean Meal Dec 18 327.2s -3.4 -1.03%

 

Soybean Oil Sep 18 28.59s +0.05 +0.18%

Soybean Oil Oct 18 28.73s +0.06 +0.21%

Soybean Oil Dec 18 28.95s +0.07 +0.24%

 

Corn Sep 18 359-6s -2-2 -0.62%

Corn Dec 18 374-2s -2-2 -0.60%

Corn Mar 19 386-2s -2-2 -0.58%

Corn May 19 393-2s -2-2 -0.57%

Corn Jul 19 399-0s -2-4 -0.62%

 

Oats Sep 18 257-0s -3-6 -1.44%

Oats Dec 18 263-6s -4-6 -1.77%

Oats Mar 19 268-2s -4-6 -1.74%

Oats May 19 271-4s -3-6 -1.36%

Oats Jul 19 274-0s -3-2 -1.17%

 

Wheat Sep 18 527-2s -15-0 -2.77%

Wheat Dec 18 547-6s -14-6 -2.62%

Wheat Mar 19 571-2s -14-0 -2.39%

Wheat May 19 581-6s -13-6 -2.31%

Wheat Jul 19 575-0s -10-6 -1.84%

 

Minneapolis

Spring Wheat Sep 18 588-6s -5-4 -0.93%

Spring Wheat Dec 18 606-2s -5-6 -0.94%

Spring Wheat Mar 19 621-2s -6-0 -0.96%

Spring Wheat May 19 628-6s -6-2 -0.98%

Spring Wheat Jul 19 631-6s -5-6 -0.90%

 

Kansas City

Hard Red Wheat Sep 18 534-4s -12-6 -2.33%

Hard Red Wheat Dec 18 562-2s -12-4 -2.17%

Hard Red Wheat Mar 19 587-2s -11-6 -1.96%

Hard Red Wheat May 19 599-0s -11-2 -1.84%

Hard Red Wheat Jul 19 594-6s -9-0 -1.49%

 

Chicago livestock futures in US¢/pound, Pit trade

Live Cattle   Aug 18 109.275s +0.200 +0.18%

Live Cattle   Oct 18 110.475s +0.025 +0.02%

Live Cattle   Dec 18 114.675s +0.100 +0.09%

 

Feeder Cattle   Aug 18 149.175s -0.450 -0.30%

Feeder Cattle   Sep 18 151.000s -0.100 -0.07%

Feeder Cattle   Oct 18 150.925s -0.350 -0.23%

 

Lean Hogs   Oct 18 56.225s -0.250 -0.44%

Lean Hogs   Dec 18 53.900s -0.325 -0.60%

Lean Hogs   Feb 19 61.550s +0.700 +1.15%

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