Canola futures end down on U.S. soy weakness, long liquidation

(Reuters) – ICE canola futures fell more than one percent on Wednesday on spillover weakness from allied U.S. soy futures along with long liquidation by speculators and lackluster export demand, traders said.

A firmer Canadian dollar added to bearish sentiment, making Canadian products less competitive on the global market.

January canola settled down $5.30 at $453.50 per tonne, while March futures ended down $5.20 at $462.80.

Spreading remained a feature as traders worked to roll January positions into deferred contracts ahead of the end-year holidays, when liquidity tends to erode. The January-March canola spread <RSF0-H0> traded 10,354 times between $9 and $9.40, premium March.

Chicago Board of Trade soybean futures fell as investors locked in profits after six straight days of gains. CBOT January soybeans settled down 7-3/4 U.S. cents at US$8.93-1/2 per bushel.

CBOT traders shrugged off news of fresh U.S. soybean sales to China as they awaited concrete signs of progress toward a phase-one U.S.-China trade deal.

Euronext February rapeseed futures fell 0.3% and Malaysian February palm oil futures fell 0.8%.

OUTSIDE MARKETS

Light crude oil nearby futures in New York was down 0.48 cents $58.80 per barrel.

In the afternoon, the Canadian dollar was unchanged at US75.55. The U.S. dollar was C$1.3201.

Name / Contract High Low Last Change Settlement
Canola Jan 2020 459.90 453.20 453.90 -4.90 453.90
Canola Mar 2020 468.90 462.50 462.70 -5.30 462.70
Canola May 2020 476.70 470.40 470.70 -5.20 470.70
Canola Jul 2020 482.50 476.30 476.70 -5.10 476.70
Canola Nov 2020 485.20 480.30 481.10 -4.10 481.10
Soybean Jan 2020 902.00 892.00 893.50 -7.75 893.00
Soybean Mar 2020 916.00 906.25 908.00 -7.50 907.50
Soybean May 2020 929.25 920.00 921.75 -7.25 921.50
Soybean Jul 2020 942.25 933.25 935.00 -7.00 934.50
Soybean Aug 2020 946.50 938.00 939.50 -6.75 939.25
Soybean Sep 2020 943.25 936.50 937.75 -5.75 937.25
Soybean Meal Dec 2019 296.20 293.30 293.30 -3.60 294.60
Soybean Meal Jan 2020 298.30 294.30 295.00 -3.70 294.60
Soybean Meal Mar 2020 302.20 298.60 299.30 -3.10 298.80
Soybean Oil Dec 2019 31.31 31.20 31.23 -0.24 31.24
Soybean Oil Jan 2020 31.77 31.35 31.44 -0.24 31.45
Soybean Oil Mar 2020 32.03 31.62 31.71 -0.24 31.73
Corn Dec 2019 363.00 357.00 357.75 -5.50 358.50
Corn Mar 2020 377.00 371.00 371.25 -5.75 371.25
Corn May 2020 382.75 377.50 378.00 -4.75 378.00
Corn Jul 2020 387.75 383.50 383.75 -4.25 384.00
Corn Sep 2020 387.25 384.00 384.75 -2.75 385.00
Oats Dec 2019 318.00 315.00 315.25 -1.00 316.25
Oats Mar 2020 297.00 291.75 293.75 -1.00 293.75
Oats May 2020 293.25 289.25 290.00 -2.00 290.00
Oats Jul 2020 285.00 282.50 282.50 -3.25 285.75
Oats Sep 2020 275.75 275.75 275.75 -1.25 277.00
Wheat Dec 2019 534.50 528.00 530.75 -4.00 529.00
Wheat Mar 2020 523.50 516.75 519.25 -4.50 519.00
Wheat May 2020 527.00 520.25 522.75 -4.00 522.75
Wheat Jul 2020 529.75 523.25 526.00 -3.75 525.50
Wheat Sep 2020 536.00 530.00 532.75 -3.75 532.00
Spring Wheat Dec 2019 501.50 501.50 501.50 4.50 501.50
Spring Wheat Mar 2020 520.00 515.50 518.25 0.25 518.25
Spring Wheat May 2020 528.00 524.50 526.25 -0.25 526.25
Spring Wheat Jul 2020 537.25 533.00 535.50 -0.50 535.50
Spring Wheat Sep 2020 545.50 544.25 544.25 -1.00 544.25
Hard Red Wheat Dec 2019 416.00 415.50 415.50 -0.50 416.00
Hard Red Wheat Mar 2020 433.75 427.50 430.75 -0.50 431.00
Hard Red Wheat May 2020 440.50 435.25 437.75 -1.25 437.50
Hard Red Wheat Jul 2020 448.00 443.00 445.50 -1.50 445.25
Hard Red Wheat Sep 2020 456.50 451.75 454.50 -1.50 454.00
Live Cattle (Pit) Dec 2019 120.58 120.58 120.58 0.70 120.58
Live Cattle (Pit) Feb 2020 125.33 125.33 125.33 0.75 125.33
Live Cattle (Pit) Apr 2020 125.88 125.88 125.88 0.83 125.88
Feeder Cattle (Pit) Jan 2020 142.78 142.78 142.78 1.13 142.78
Feeder Cattle (Pit) Mar 2020 143.68 143.68 143.68 1.15 143.68
Feeder Cattle (Pit) Apr 2020 145.48 145.48 145.48 1.00 145.48
Lean Hogs (Pit) Dec 2019 60.70 60.70 60.70 0.23 60.70
Lean Hogs (Pit) Feb 2020 67.73 67.73 67.73 -0.25 67.73
Lean Hogs (Pit) Apr 2020 74.25 74.25 74.25 0.05 74.25

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