Canola futures hang on even as crop gets larger

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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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%

 

 

 

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