The Statistics Canada canola crop number today was bigger than expected, but the January contract price dropped less than $2 a tonne.
Spring wheat futures dropped a little more on a percentage basis but U..S. crop markets were under pressure along with all commodities.
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Commodities on U.S. market were down as the U.S. dollar hit a two week high.
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U.S. livestock: Cattle futures set record highs on scarce supplies
Chicago Mercantile Exchange live cattle and feeder cattle futures set record highs on Wednesday as cash prices stayed strong, along with consumers’ demand for beef, brokers said.
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OUTSIDE MARKETS
Oil prices settled at a two-week low on a surprise rise in U.S. fuel stocks.
Light crude oil nearby futures in New York were down $1.66 at US$55.96 per barrel.
Markets have flashed some concerning signals, Reuters reports. Copper, which is seen as an indicator of global demand, posted its biggest decline in more than two years on Tuesday, while the U.S. yield curve between two- and 10-year Treasuries has continued to flatten, another potential reflection of worries about the economy.
“There are some inconsistencies in the market right now with what appears to be a very positive economic backdrop,” said Walter Todd, chief investment officer at Greenwood Capital Associates in Greenwood, South Carolina.
In the afternoon, the Canadian dollar was trading around US78.15 cents, down from 78.77 cents the previous trading day. The U.S. dollar was C$1.2796.
The Toronto Stock Exchange’s S&P/TSX composite index closed down 6.9 points, or 0.04 percent, at 15,908.78.
The Dow Jones Industrial Average ended down 0.16 percent at 24,140.91 while the S&P 500 lost 0.01 percent to 2,629.27.
The Nasdaq Composite added 0.21 percent to 6,776.38.
Winnipeg ICE Futures Canada dollars per tonne.
Canola Jan 18 508.00s -1.70 -0.33%
Canola Mar 18 516.70s -1.80 -0.35%
Canola May 18 523.30s -1.60 -0.30%
Canola Jul 18 527.00s -1.40 -0.26%
Canola Nov 18 506.70s -0.60 -0.12%
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 1002-6s -5-6 -0.57%
Soybeans Mar 18 1014-6s -5-6 -0.56%
Soybeans May 18 1025-2s -5-4 -0.53%
Soybeans Jul 18 1033-2s -5-4 -0.53%
Soybeans Aug 18 1034-0s -5-2 -0.51%
Soybean Meal Dec 17 340.4s -0.9 -0.26%
Soybean Meal Jan 18 342.3s -1.0 -0.29%
Soybean Meal Mar 18 345.5s -0.8 -0.23%
Soybean Oil Dec 17 33.09s -0.32 -0.96%
Soybean Oil Jan 18 33.17s -0.33 -0.99%
Soybean Oil Mar 18 33.39s -0.32 -0.95%
Corn Dec 17 339-2s -0-4 -0.15%
Corn Mar 18 352-6s -1-0 -0.28%
Corn May 18 361-0s -1-2 -0.35%
Corn Jul 18 369-2s -1-2 -0.34%
Corn Sep 18 376-4s -1-0 -0.26%
Oats Dec 17 232-0s -7-0 -2.93%
Oats Mar 18 247-6s -6-6 -2.65%
Oats May 18 254-2s -6-0 -2.31%
Oats Jul 18 260-6s -6-0 -2.25%
Oats Sep 18 262-6s -6-0 -2.23%
Wheat Dec 17 398-4s -7-4 -1.85%
Wheat Mar 18 425-2s -7-4 -1.73%
Wheat May 18 438-0s -7-0 -1.57%
Wheat Jul 18 451-4s -6-6 -1.47%
Wheat Sep 18 466-2s -6-0 -1.27%
Minneapolis
Spring Wheat Dec 17 603-6s -5-2 -0.86%
Spring Wheat Mar 18 613-6s -12-4 -2.00%
Spring Wheat May 18 621-4s -11-6 -1.86%
Spring Wheat Jul 18 625-4s -9-0 -1.42%
Spring Wheat Sep 18 624-0s -5-4 -0.87%
Kansas City
Hard Red Wheat Dec 17 406-0s -8-2 -1.99%
Hard Red Wheat Mar 18 423-4s -8-0 -1.85%
Hard Red Wheat May 18 436-2s -8-0 -1.80%
Hard Red Wheat Jul 18 452-6s -8-0 -1.74%
Hard Red Wheat Sep 18 469-4s -8-0 -1.68%
Chicago livestock futures in US¢/pound, Pit trade
Live Cattle Dec 17 115.900s -0.525 -0.45%
Live Cattle Feb 18 119.275s -1.250 -1.04%
Live Cattle Apr 18 120.625s -0.900 -0.74%
Feeder Cattle Jan 18 146.025s -1.800 -1.22%
Feeder Cattle Mar 18 144.100s -1.650 -1.13%
Feeder Cattle Apr 18 144.375s -2.025 -1.38%
Lean Hogs Dec 17 63.825s -0.450 -0.70%
Lean Hogs Feb 18 68.950s -1.550 -2.20%
Lean Hogs Apr 18 72.975s -1.350 -1.82%
