Canola falls on vegetable oil weakness

Canola futures fell Monday, attributed to overall vegetable oil weakness.

India’s announcement of restrictions on vegetable oil imports hurt the prospects for oilseeds around the world, which was felt in futures markets.

Canola was also hurt by the knock-on effects of rains in northern Brazil, which has been dry. The Brazilian planting season is going well and is ahead of average.

Grain futures markets were generally weaker, although corn and soybeans edged slightly higher.

Spring wheat also fell.

The markets could be both quiet and volatile this week as U.S. traders lighten positions ahead of American Thanksgiving.

OUTSIDE MARKETS

Light crude oil nearby futures in New York were down 46 cents at US$56.09 per barrel.

In the afternoon, the Canadian dollar was trading around US78.00 cents, down from 78.43 cents the previous trading day. The U.S. dollar was C$1.2821.

The Toronto Stock Exchange’s S&P/TSX composite index rose 5.83 points, or 0.04 percent, to close at 16,004.40, its highest close since Nov. 13.

The Dow Jones Industrial Average rose 72.09 points, or 0.31 percent, to 23,430.33, the S&P 500 gained 3.29 points, or 0.13 percent, to 2,582.14 and the Nasdaq Composite added 7.92 points, or 0.12 percent, to 6,790.71.

Winnipeg ICE Futures Canada dollars per tonne.
Canola Jan 18 516.00s -3.40 -0.65%
Canola Mar 18 524.10s -3.10 -0.59%
Canola May 18 528.10s -3.00 -0.56%
Canola Jul 18 530.80s -3.10 -0.58%
Canola Nov 18 505.70s -1.50 -0.30%

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 18 990-0s -0-4 -0.05%

Soybeans Mar 18 1001-2s -0-2 -0.02%
Soybeans May 18 1010-6s -0-2 -0.02%
Soybeans Jul 18 1019-2s -0-2 -0.02%
Soybeans Aug 18 1020-0s -0-2 -0.02%

Soybean Meal Dec 17 319.8s +1.6 +0.50%
Soybean Meal Jan 18 322.0s +2.0 +0.63%
Soybean Meal Mar 18 325.3s +2.2 +0.68%

Soybean Oil Dec 17 33.95s -0.49 -1.42%
Soybean Oil Jan 18 34.10s -0.49 -1.42%
Soybean Oil Mar 18 34.33s -0.47 -1.35%

Corn Dec 17 345-0s +2-0 +0.58%
Corn Mar 18 356-4s +1-4 +0.42%
Corn May 18 364-6s +1-2 +0.34%
Corn Jul 18 372-4s +1-2 +0.34%
Corn Sep 18 379-4s +1-0 +0.26%

Oats Dec 17 255-0s -2-0 -0.78%
Oats Mar 18 271-0s -1-2 -0.46%
Oats May 18 278-0s -1-0 -0.36%
Oats Jul 18 282-6s +0-6 +0.27%
Oats Sep 18 280-6s +0-6 +0.27%

Wheat Dec 17 422-0s -5-2 -1.23%
Wheat Mar 18 438-4s -5-0 -1.13%
Wheat May 18 449-6s -4-4 -0.99%
Wheat Jul 18 462-2s -4-4 -0.96%
Wheat Sep 18 476-4s -4-6 -0.99%

Minneapolis
Spring Wheat Dec 17 626-2s -8-6 -1.38%

Spring Wheat Mar 18 639-6s -10-2 -1.58%
Spring Wheat May 18 646-0s -10-0 -1.52%
Spring Wheat Jul 18 648-2s -9-0 -1.37%
Spring Wheat Sep 18 634-0s -5-6 -0.90%

Kansas City
Hard Red Wheat Dec 17 416-0s -6-0 -1.42%
Hard Red Wheat Mar 18 433-6s -5-6 -1.31%
Hard Red Wheat May 18 446-2s -6-0 -1.33%
Hard Red Wheat Jul 18 464-0s -5-4 -1.17%
Hard Red Wheat Sep 18 481-2s -5-2 -1.08%

Chicago livestock futures in US¢/pound, Pit trade
Live Cattle Dec 17 117.100s -1.750 -1.47%
Live Cattle Feb 18 123.025s -1.650 -1.32%
Live Cattle Apr 18 123.700s -1.175 -0.94%

Feeder Cattle Jan 18 149.550s -2.175 -1.43%
Feeder Cattle Mar 18 148.050s -2.075 -1.38%
Feeder Cattle Apr 18 147.850s -2.325 -1.55%

Lean Hogs Dec 17 62.025s +1.375 +2.27%
Lean Hogs Feb 18 68.475s +1.400 +2.09%
Lean Hogs Apr 18 72.375s +1.225 +1.72%

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