Winnipeg (CNS Canada) – The ICE Futures Canada canola market finished weaker on Thursday in technical selling.
Traders were positioning themselves ahead of tomorrow’s acreage report by Statistics Canada.
Some farmers in Western Canada will likely begin planting next week due to the warm weather.
Canola is looking expensive relative to soybeans and other oilseeds.
However, strength in the U.S. soy complex and weakness in the Canadian dollar was bullish for canola.
Road-bans in rural Prairie areas are reducing the amount of supplies farmers can deliver right now, which was supportive.
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Around 14,877 canola contracts were traded on Thursday, which compares with Wednesday when around 20,749 contracts changed hands. Spreading accounted for 6,806 of the contracts traded.
Settlement prices are in Canadian dollars per metric tonne.
The soybean market finished mostly unchanged in a choppy day of technical trade.
Futures took strength from some follow-through buying in the early going.
Things are not going well in Argentina; just a day after the country imported 130,000 tonnes of soybeans from the United States, a ship collided with a pier at the port in Rosario, disrupting operations in the harbour.
Corn futures ticked slightly lower as traders squared positions.
Planting progress in the U.S. is still going slow, which was supportive.
There are ideas the trade dispute between China and the U.S. over sorghum, will be settled soon.
Chicago wheat futures corrected lower on Thursday.
Crops in Russia and Ukraine seem to have come through the winter mostly unscathed, which was bearish.
On the other side, weekly U.S. exports were better than expected, which helped support the market.
OUTSIDE MARKETS
Light crude oil nearby futures in New York were up 14 cents at US$68.19 per barrel.
In the afternoon, the Canadian dollar was trading around US77.70 cents, down from 77.85 cents the previous trading day. The U.S. dollar was C$1.2870.
Winnipeg ICE Futures Canada dollars per tonne.
Canola May 18 532.20s -6.80 -1.26%
Canola Jul 18 532.30s -2.70 -0.50%
Canola Nov 18 517.30s -1.70 -0.33%
Canola Jan 19 521.20s -1.90 -0.36%
Canola Mar 19 523.20s -1.60 -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 May 18 1028-0s +0-4 +0.05%
Soybeans Jul 18 1039-4s +0-2 +0.02%
Soybeans Aug 18 1041-4s unch unch
Soybeans Sep 18 1036-0s -1-0 -0.10%
Soybeans Nov 18 1033-2s -1-4 -0.14%
Soybean Meal May 18 379.2s +3.0 +0.80%
Soybean Meal Jul 18 383.3s +2.8 +0.74%
Soybean Meal Aug 18 381.8s +1.7 +0.45%
Soybean Oil May 18 30.81s +0.02 +0.06%
Soybean Oil Jul 18 31.09s +0.03 +0.10%
Soybean Oil Aug 18 31.21s +0.02 +0.06%
Corn May 18 386-0s -0-4 -0.13%
Corn Jul 18 395-2s -0-4 -0.13%
Corn Sep 18 402-2s -0-6 -0.19%
Corn Dec 18 411-2s -1-0 -0.24%
Corn Mar 19 419-2s -0-6 -0.18%
Oats May 18 220-6s -2-0 -0.90%
Oats Jul 18 228-6s unch unch
Oats Sep 18 232-0s +1-0 +0.43%
Oats Dec 18 243-2s +0-4 +0.21%
Oats Mar 19 249-4s -1-2 -0.50%
Wheat May 18 480-6s -5-4 -1.13%
Wheat Jul 18 489-4s -9-4 -1.90%
Wheat Sep 18 506-6s -8-4 -1.65%
Wheat Dec 18 529-4s -8-6 -1.63%
Wheat Mar 19 547-2s -9-0 -1.62%
Minneapolis
Spring Wheat May 18 599-4s unch unch
Spring Wheat Jul 18 604-0s -2-4 -0.41%
Spring Wheat Sep 18 610-6s -3-4 -0.57%
Spring Wheat Dec 18 623-0s -3-6 -0.60%
Spring Wheat Mar 19 633-6s -4-4 -0.71%
Kansas City
Hard Red Wheat May 18 501-6s -5-2 -1.04%
Hard Red Wheat Jul 18 521-0s -5-4 -1.04%
Hard Red Wheat Sep 18 539-2s -5-2 -0.96%
Hard Red Wheat Dec 18 563-2s -5-6 -1.01%
Hard Red Wheat Mar 19 578-6s -6-2 -1.07%
Chicago livestock futures in US¢/pound, Pit trade
Live Cattle Apr 18 122.525s +0.600 +0.49%
Live Cattle Jun 18 104.350s -1.225 -1.16%
Live Cattle Aug 18 104.025s -1.250 -1.19%
Feeder Cattle Apr 18 140.175s +0.325 +0.23%
Feeder Cattle May 18 140.300s -1.050 -0.74%
Feeder Cattle Aug 18 146.500s -0.925 -0.63%
Lean Hogs May 18 67.325s -1.225 -1.79%
Lean Hogs Jun 18 74.000s -1.350 -1.79%
Lean Hogs Jul 18 77.300s -1.125 -1.43%
