Canola futures mixed as holidays approach

WINNIPEG, Manitoba, (Reuters) – ICE canola futures finished mixed on Tuesday, with the day’s volume dominated by spread trading as investors rolled January contract positions forward ahead of an expected slowdown in trading during the upcoming year-end holidays.

Rising soybean and palm oil prices provided underlying support to canola, as did solid demand from canola exporters and domestic crushers. Commercial selling, however, clipped gains.

January canola fell 30 cents to $458.80 per tonne while March futures shed 10 cents to settle at $468.00 per tonne. Deferred-month contracts were 30 to 80 cents higher.

January-March canola spread <RSF0-H0> traded 8,776 times. More than 90% of the day’s volume was spread related, a trader said.

U.S. soybean futures rose for a sixth straight session on Tuesday, lifted by hopes that the United States and China were moving toward an interim agreement to end their trade war.

Euronext February rapeseed futures and Malaysian February palm oil futures eased.

France’s farm ministry on Tuesday forecast a sharp fall in rapeseed area for next year’s harvest after adverse weather.

OUTSIDE MARKETS

Light crude oil nearby futures in New York was up 22 cents at US$59.24 per barrel.

In the afternoon, the Canadian dollar was trading around US75.57 cents, up from 75.56 cents the previous trading day. The U.S. dollar was C$1.3233.

Winnipeg ICE Futures Canada dollars per tonne.

Canola Jan 20 458.80s -0.30 -0.07%

Canola Mar 20 468.00s -0.10 -0.02%

Canola May 20 475.90s +0.10 +0.02%

Canola Jul 20 481.80s +0.30 +0.06%

Canola Nov 20 485.20s +0.50 +0.10%

 

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

Soybean Jan 20 901-2s +4-0 +0.45%

Soybean Mar 20 915-4s +3-6 +0.41%

Soybean May 20 929-0s +3-4 +0.38%

Soybean Jul 20 942-0s +3-2 +0.35%

Soybean Aug 20 946-2s +3-2 +0.34%

 

Soybean Meal Dec 19 296.9s +0.2 +0.07%

Soybean Meal Jan 20 298.7s +0.2 +0.07%

Soybean Meal Mar 20 302.4s +0.2 +0.07%

 

Soybean Oil Dec 19 31.47s +0.11 +0.35%

Soybean Oil Jan 20 31.68s +0.09 +0.28%

Soybean Oil Mar 20 31.95s +0.09 +0.28%

 

Corn Dec 19 363-2s -2-4 -0.68%

Corn Mar 20 377-0s +1-2 +0.33%

Corn May 20 382-6s +1-4 +0.39%

Corn Jul 20 388-0s +2-0 +0.52%

Corn Sep 20 387-4s +1-6 +0.45%

 

Oats Dec 19 316-2s -0-4 -0.16%

Oats Mar 20 294-6s -0-4 -0.17%

Oats May 20 292-0s unch unch

Oats Jul 20 285-6s +2-0 +0.70%

Oats Sep 20 277-0s +3-0 +1.09%

 

Wheat Dec 19 534-6s +2-6 +0.52%

Wheat Mar 20 523-6s +1-0 +0.19%

Wheat May 20 526-6s +0-6 +0.14%

Wheat Jul 20 529-6s +1-0 +0.19%

Wheat Sep 20 536-4s +1-0 +0.19%

 

Minneapolis

Spring Wheat Dec 19 497-0s unch unch

Spring Wheat Mar 20 518-0s +4-6 +0.93%

Spring Wheat May 20 526-4s +4-4 +0.86%

Spring Wheat Jul 20 536-0s +4-4 +0.85%

Spring Wheat Sep 20 545-2s +4-2 +0.79%

 

Kansas City

Hard Red Wheat Dec 19 416-0s +4-4 +1.09%

Hard Red Wheat Mar 20 431-2s +5-2 +1.23%

Hard Red Wheat May 20 439-0s +5-0 +1.15%

Hard Red Wheat Jul 20 447-0s +4-4 +1.02%

Hard Red Wheat Sep 20 456-0s +4-0 +0.88%

 

Chicago livestock futures in US¢/pound, Pit trade

Live Cattle Dec 19 119.875s -0.300 -0.25%

Live Cattle Feb 20 124.575s -0.175 -0.14%

Live Cattle Apr 20 125.050s -0.350 -0.28%

 

Feeder Cattle Jan 20 141.650s +0.125 +0.09%

Feeder Cattle Mar 20 142.525s +0.250 +0.18%

Feeder Cattle Apr 20 144.475s +0.325 +0.23%

 

Lean Hogs Dec 19 60.475s +0.475 +0.79%

Lean Hogs Feb 20 67.975s +1.275 +1.91%

Lean Hogs Apr 20 74.200s +1.225 +1.68%

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