Canola futures stronger; wheat steady

Winnipeg, (MarketsFarm) – The ICE Futures canola market was stronger on Friday, taking some direction from Chicago Board of Trade soybeans as traders squared positions ahead of the weekend.

Speculative short-covering was a feature as fund traders took some profits on their bearish bets, according to a trader.

Solid crush margins added to the firm tone, with domestic processors still looking at some of their best margins of the past year.

While production uncertainty across the Prairies also kept some weather premiums in the market, the looming harvest tempered the upside.

A firmer tone in the Canadian dollar, which was up by about a quarter of a cent, also slowed the advances.

About 11,459 canola contracts traded on Friday, which compares with Thursday when 12,748 contracts changed hands. Spreading accounted for 3,540 of the contracts traded.

SOYBEAN futures at the Chicago Board of Trade were stronger on Friday, with positioning ahead of the weekend a feature as the market took back some of Thursday’s losses.

The United States Department of Agriculture reported a flash sale of nearly 300,000 tonnes of soybeans to unknown destinations this morning, providing some support.

However, ongoing uncertainty over Chinese trade relations kept traders on their toes, as the back-and-forth from both countries over the past week adds more confusion to the situation.

CORN was higher, seeing a technical rebound after posting sharp losses earlier in the week amid oversold price sentiment.

Ideas that the U.S. crop may not live up to Monday’s optimistic production forecast from the USDA were supportive.

WHEAT futures were steady to higher on Friday, although trade was thin and choppy.

The USDA attaché in Canada pegged the Canadian wheat crop at 32.65 million tonnes, which would be up from the 31.77 million tonnes grown the previous year. Agriculture and Agri-Food Canada is currently forecasting a 32.0 million tonne Canadian wheat crop. The first official Statistics Canada crop production estimate of the year will be released on Aug. 28.

 

 

Name / Contract High Low Last Change Settlement
Canola Nov 2019 (updated 1:19PM(CST) on 8/13/2019) 455.20 448.60 448.70 -3.70 448.70
Canola Jan 2020 (updated 1:18PM(CST) on 8/13/2019) 463.30 456.90 457.00 -4.10 457.00
Canola Mar 2020 (updated 1:16PM(CST) on 8/13/2019) 470.60 464.30 464.60 -3.90 464.60
Canola May 2020 (updated 1:15PM(CST) on 8/13/2019) 476.50 470.50 471.00 -3.60 471.00
Canola Jul 2020 (updated 1:15PM(CST) on 8/13/2019) 481.70 476.20 476.90 -3.20 476.90
Soybean Aug 2019 872.00 871.25 872.00 10.50 871.25
Soybean Sep 2019 883.75 863.25 876.25 9.50 876.00
Soybean Nov 2019 896.75 875.50 889.00 9.75 889.00
Soybean Jan 2020 910.00 889.25 902.00 9.25 902.25
Soybean Mar 2020 922.25 901.75 914.00 8.75 914.25
Soybean May 2020 933.25 913.50 925.25 8.25 925.25
Soybean Meal Aug 2019 298.30 291.60 297.80 5.90 297.20
Soybean Meal Sep 2019 300.00 292.50 299.20 5.80 299.30
Soybean Meal Oct 2019 301.70 294.30 300.90 5.70 301.00
Soybean Oil Aug 2019 29.36 29.17 29.17 -0.47 29.64
Soybean Oil Sep 2019 29.85 29.11 29.17 -0.49 29.21
Soybean Oil Oct 2019 29.98 29.23 29.29 -0.50 29.34
Corn Sep 2019 379.00 365.50 366.00 -19.25 367.50
Corn Dec 2019 388.00 376.00 376.50 -16.25 377.75
Corn Mar 2020 400.00 389.25 390.00 -13.25 390.75
Corn May 2020 407.50 397.25 398.75 -10.25 399.00
Corn Jul 2020 412.00 402.50 404.50 -8.25 404.75
Oats Sep 2019 272.00 268.00 271.75 unch 271.75
Oats Dec 2019 268.75 263.25 266.00 -0.75 266.25
Oats Mar 2020 272.50 269.50 270.25 -1.00 271.75
Oats May 2020 270.50 270.00 270.00 -0.75 270.75
Oats Jul 2020 274.00 270.75 270.75 -0.50 271.25
Wheat Sep 2019 478.75 465.50 472.00 0.25 473.50
Wheat Dec 2019 481.75 469.50 475.75 -0.50 477.50
Wheat Mar 2020 489.25 477.75 483.25 -0.75 484.50
Wheat May 2020 495.00 483.50 489.25 -0.50 491.00
Wheat Jul 2020 501.00 488.50 494.50 -0.50 496.75
Spring Wheat Sep 2019 511.50 502.00 502.75 -6.50 502.75
Spring Wheat Dec 2019 525.00 514.50 516.50 -5.50 516.50
Spring Wheat Mar 2020 540.50 530.25 531.75 -5.25 531.75
Spring Wheat May 2020 550.25 541.50 542.50 -4.50 542.50
Spring Wheat Jul 2020 555.50 552.00 552.75 -4.25 552.75
Hard Red Wheat Sep 2019 396.25 382.75 383.50 -8.75 385.25
Hard Red Wheat Dec 2019 413.25 399.75 400.50 -8.50 401.75
Hard Red Wheat Mar 2020 429.00 416.25 417.00 -8.25 418.50
Hard Red Wheat May 2020 438.75 427.50 427.75 -8.50 430.00
Hard Red Wheat Jul 2020 450.25 437.25 438.00 -8.25 440.75
Live Cattle (Pit) Aug 2019 100.55 100.55 100.55 -4.50 100.55
Live Cattle (Pit) Oct 2019 99.25 99.25 99.25 -4.50 99.25
Live Cattle (Pit) Dec 2019 103.95 103.95 103.95 -4.50 103.95
Feeder Cattle (Pit) Aug 2019 127.73 127.73 127.73 -6.68 127.73
Feeder Cattle (Pit) Sep 2019 127.20 127.20 127.20 -6.75 127.20
Feeder Cattle (Pit) Oct 2019 127.55 127.55 127.55 -6.20 127.55
Lean Hogs (Pit) Aug 2019 79.00 79.00 79.00 -0.18 79.00
Lean Hogs (Pit) Oct 2019 64.58 64.58 64.58 -2.50 64.58
Lean Hogs (Pit) Dec 2019 63.03 63.03 63.03 -0.75 63.03
Canadian Dollar Aug 2019 0.7563 0.7530 0.7563 0.0011 0.7563
Crude Oil WTI Sep 2019 57.47 54.21 57.13 2.20 57.13

Prices updated at 1:20PM(CST) on 8/13/2019

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