Western Canadian farmers were sitting on their hands and their canola. Buyers might have been interested, but producers weren’t with harvest about to start in earnest, beyond pulses and a bit of wheat. Futures positions were also slow to trade, as highly variable yields are being reported and the next Canadian acreage report will be out next week.
Soybean oil lent some strength to canola, as it rose slightly, however a stronger Canadian dollar pulled canola back down. Canola finished the day up slightly, with September ending at $498.10, up $1.50, but still below $500. Cash prices on offer in Western Canada, according to Alberta Wheat’s PDQ system were between $451 and $468 per tonne and all were up slightly to flat.
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Soybeans appeared to be rising throughout Friday, but fell back to a flat finish in Chicago before the day was over. No good news came out of trade discussions between China and the United States as they both imposed additional tariffs this week.
Corn and wheat both showed small signs of life, after a tough week on Chicago. Minneapolis wheat was off 9 US cents, finished the day at US$572.75. Both Kansas City and hard red winter wheats were off by about the same amount in nearby markets.
Hard Red Spring elevator prices in Western Canada were down between C$4.50 and $5 per tonne Friday, ending in a range from $231.42 in northwestern Saskatchewan to $261.71 in southern Alberta. Western Manitoba was $239.09, while southwestern Saskatchewan was $245.87. Durum was down for the first time this week, ending the day between $257.72 in western Manitoba, $259.38 in southern Alberta. Lower prices were on offer in northern Saskatchewan, however there is little supply in that region.
| Name / Contract | High | Low | Last | Change | Settlement |
| Canola Nov 2018 (updated 3:56AM(CST) on 8/24/2018) | 498.20 | 497.00 | 498.10 | 1.50 | 498.10 |
| Canola Jan 2019 (updated 1:19PM(CST) on 8/24/2018) | 505.70 | 502.60 | 503.80 | 0.60 | 503.80 |
| Canola Mar 2019 (updated 1:14PM(CST) on 8/24/2018) | 510.00 | 507.20 | 508.10 | 0.70 | 508.10 |
| Canola May 2019 (updated 12:49PM(CST) on 8/24/2018) | 513.70 | 509.90 | 511.30 | 0.60 | 511.30 |
| Canola Jul 2019 (updated 12:15PM(CST) on 8/24/2018) | 515.20 | 510.60 | 512.50 | 0.80 | 512.50 |
| Soybeans Sep 2018 | 848.50 | 840.75 | 841.25 | -0.75 | 842.00 |
| Soybeans Nov 2018 | 860.75 | 853.50 | 854.50 | 0.50 | 855.25 |
| Soybeans Jan 2019 | 873.50 | 866.25 | 868.00 | 1.00 | 868.00 |
| Soybeans Mar 2019 | 885.75 | 879.25 | 880.50 | 0.50 | 881.25 |
| Soybeans May 2019 | 897.25 | 890.75 | 892.25 | 1.00 | 892.50 |
| Soybeans Jul 2019 | 906.75 | 900.00 | 901.25 | 0.75 | 901.75 |
| Soybean Meal Sep 2018 | 316.10 | 312.30 | 312.50 | -1.20 | 312.70 |
| Soybean Meal Oct 2018 | 317.70 | 314.20 | 314.30 | -0.90 | 314.50 |
| Soybean Meal Dec 2018 | 318.80 | 315.90 | 316.10 | -0.40 | 316.30 |
| Soybean Oil Sep 2018 | 28.48 | 28.01 | 28.18 | 0.15 | 28.15 |
| Soybean Oil Oct 2018 | 28.62 | 28.15 | 28.29 | 0.12 | 28.28 |
| Soybean Oil Dec 2018 | 28.83 | 28.34 | 28.50 | 0.13 | 28.49 |
| Corn Sep 2018 | 350.00 | 346.25 | 348.50 | 1.75 | 348.50 |
| Corn Dec 2018 | 364.50 | 360.50 | 363.00 | 2.00 | 362.75 |
| Corn Mar 2019 | 376.50 | 373.00 | 375.25 | 2.00 | 375.00 |
| Corn May 2019 | 383.75 | 380.00 | 382.50 | 1.75 | 382.25 |
| Corn Jul 2019 | 389.50 | 386.00 | 388.25 | 1.75 | 387.75 |
| Oats Sep 2018 | 264.00 | 258.75 | 260.25 | -3.00 | 259.50 |
| Oats Dec 2018 | 268.00 | 263.00 | 263.75 | -2.75 | 263.75 |
| Oats Mar 2019 | 271.25 | 268.25 | 268.50 | -2.25 | 268.50 |
| Oats May 2019 | 271.75 | 271.75 | 271.75 | -2.00 | 271.75 |
| Oats Jul 2019 | 274.25 | 274.25 | 274.25 | -1.50 | 274.25 |
| Wheat Sep 2018 | 522.00 | 513.00 | 513.50 | -8.50 | 514.75 |
| Wheat Dec 2018 | 541.75 | 535.00 | 535.00 | -6.75 | 536.50 |
| Wheat Mar 2019 | 564.25 | 558.25 | 558.25 | -6.25 | 559.50 |
| Wheat May 2019 | 575.50 | 569.75 | 570.25 | -6.00 | 571.50 |
| Wheat Jul 2019 | 569.75 | 564.75 | 564.75 | -6.00 | 566.25 |
| Spring Wheat Sep 2018 | 582.25 | 571.50 | 572.75 | -9.00 | 572.75 |
| Spring Wheat Dec 2018 | 599.75 | 589.00 | 590.25 | -9.00 | 590.25 |
| Spring Wheat Mar 2019 | 614.75 | 605.00 | 606.00 | -8.75 | 606.00 |
| Spring Wheat May 2019 | 623.25 | 613.75 | 614.25 | -8.75 | 614.25 |
| Spring Wheat Jul 2019 | 626.50 | 619.75 | 619.50 | -7.25 | 619.50 |
| Hard Red Wheat Sep 2018 | 527.75 | 517.50 | 517.50 | -9.75 | 519.25 |
| Hard Red Wheat Dec 2018 | 555.50 | 545.25 | 545.25 | -9.25 | 546.75 |
| Hard Red Wheat Mar 2019 | 577.00 | 569.00 | 569.00 | -9.75 | 570.25 |
| Hard Red Wheat May 2019 | 590.50 | 581.50 | 581.50 | -9.75 | 582.75 |
| Hard Red Wheat Jul 2019 | 587.75 | 579.25 | 579.25 | -9.00 | 580.25 |
| Live Cattle (P) Aug 2018 | 108.02 | 106.00 | 106.52 | -1.43 | 106.25 |
| Live Cattle (P) Oct 2018 | 108.95 | 106.48 | 107.20 | -1.52 | 106.70 |
| Live Cattle (P) Dec 2018 | 113.15 | 111.02 | 111.85 | -1.13 | 111.20 |
| Feeder Cattle (P) Aug 2018 | 149.48 | 148.42 | 149.20 | 0.17 | 149.20 |
| Feeder Cattle (P) Sep 2018 | 150.08 | 147.25 | 147.60 | -1.55 | 147.48 |
| Feeder Cattle (P) Oct 2018 | 149.80 | 146.50 | 146.90 | -1.90 | 146.72 |
| Lean Hogs (P) Oct 2018 | 52.25 | 50.18 | 51.42 | 0.25 | 51.78 |
| Lean Hogs (P) Dec 2018 | 51.80 | 50.08 | 50.92 | 0.05 | 51.22 |
| Lean Hogs (P) Feb 2019 | 62.22 | 59.50 | 61.58 | 1.61 | 61.80 |
| Canadian Dollar Sep 2018 | 0.7689 | 0.7634 | 0.7680 | 0.0039 | 0.7678 |
| Crude Oct 2018 | 69.31 | 67.78 | 68.60 | 0.77 | 68.72 |
