Canola rose for a fifth straight session on Friday, the day that Donald Trump was inaugurated President of the United States.
Trump’s main themein his address was America first in all things.
“Every decision on trade, on taxes, on immigration, on foreign affairs, will be made to benefit American workers and American families,” he said.
It was a fairly calm day in agricultural markets as there is little new fundamental supply and demand news.
March canola climbed $1.20 to close at $519.60 per tonne. The contract gained $19.50 or 3.9 percent from the close the previous Friday the week, lifted by currency weakness and by lingering support from concerns about excess rain hurting Argentina’s crops.
Read Also
New Quebec ag minister named in shuffle
Farmers in Quebec get a new representative at the provincial cabinet table as Premier Francois Legault names Donald Martel the new minister of agriculture, replacing Andre Lamontagne.
After sharp gains early in the week, soybeans drifted back as the trade tried to assess the true damage to Argentina’s potential. Rain this week is delaying the early harvest in Brazil.
Wheat futures were mixed today with adjustments made between the three contracts.
Corn rose about one percent.
CANOLA DEMAND
Canadian canola exports were strong this past week at 378,900 tonnes up from 177,200 tonnes the previous week.
The total for the year so far is 4.7 million up from 4.54 million last year.
That helped to make up for a weaker week at domestic crushers that processed 157,532 tonnes, down eight percent from the week before, That ws about 74 percent of industry capacity.
Still, the crush to date at 4.33 million topped last year’s pace of 3.81 million by 13.5 percent.
WHEAT EXPORTS
Wheat exports for the week were 191,000 tonnes, down from 383,200 the week before.
Tht total to date is lagging far behind last year. So far 6.38 million tonnes, down 22.6 percent from 7.82 million last year at the same point.
Light crude oil February futures in New York were up $1.05 to US$52.42 per barrel.
The Canadian dollar at noon was US74.97 cents, down from 75.02 cents the previous trading day. The U.S. dollar at noon was C$1.3339.
The post U.S. election stock market rally paused early this week but resumed today.
The Toronto Stock Exchange’s S&P/TSX composite index closed up 138.07 points, or 0.90 percent, at 15,547.88.
The Dow Jones Industrial Average closed up 94.85 points, or 0.48 percent, to 19,827.25, the S&P 500 gained 7.62 points, or 0.3 percent, to 2,271.31 and the Nasdaq Composite added 15.25 points, or 0.28 percent, to 5,555.33.
For the week the the TSX composite rose 0.3 percent, the Dow and the S&P 500 both slipped 0.3 percent, while the S&P 500 dipped 0.1 percent.
Winnipeg ICE Futures Canada dollars per tonne
Canola Mar 17 519.60 +1.20 +0.23%
Canola May 17 526.90 +1.30 +0.25%
Canola Jul 17 530.90 +1.80 +0.34%
Canola Nov 17 505.90 -0.20 -0.04%
Canola Jan 18 507.70 +0.20 +0.04%
Milling Wheat Mar 17 237.00 -4.00 -1.66%
Milling Wheat May 17 242.00 -2.00 -0.82%
Milling Wheat Jul 17 243.00 -1.00 -0.41%
Durum Wheat Mar 17 312.00 +1.00 +0.32%
Durum Wheat May 17 315.00 +1.00 +0.32%
Durum Wheat Jul 17 323.00 unch unch
Barley Mar 17 139.00 unch unch
Barley May 17 141.00 unch unch
Barley Jul 17 142.00 unch unch
American crop prices in cents US/bushel, soybean meal in $US/short ton, soy oil in cents US/pound
Chicago
Soybeans Mar 2017 1067.50 -2.75 -0.26%
Soybeans May 2017 1076.00 -2.50 -0.23%
Soybeans Jul 2017 1082.00 -1.75 -0.16%
Soybeans Aug 2017 1076.25 -1.50 -0.14%
Soybeans Sep 2017 1052.50 -0.75 -0.07%
Soybeans Nov 2017 1028.75 -1.00 -0.10%
Soybean Meal Mar 2017 348.70 +0.50 +0.14%
Soybean Meal May 2017 351.00 +0.70 +0.20%
Soybean Meal Jul 2017 351.90 +1.10 +0.31%
Soybean Oil Mar 2017 35.15 -0.29 -0.82%
Soybean Oil May 2017 35.39 -0.29 -0.81%
Soybean Oil Jul 2017 35.63 -0.27 -0.75%
Corn Mar 2017 369.75 +3.50 +0.96%
Corn May 2017 376.25 +3.00 +0.80%
Corn Jul 2017 383.00 +3.00 +0.79%
Corn Sep 2017 389.25 +2.75 +0.71%
Corn Dec 2017 395.75 +2.25 +0.57%
Oats Mar 2017 262.75 +4.75 +1.84%
Oats May 2017 251.00 +2.25 +0.90%
Oats Jul 2017 247.25 +4.50 +1.85%
Oats Sep 2017 242.50 +2.75 +1.15%
Oats Dec 2017 239.75 +2.75 +1.16%
Wheat Mar 2017 428.25 +4.75 +1.12%
Wheat May 2017 443.25 +4.00 +0.91%
Wheat Jul 2017 458.50 +3.25 +0.71%
Wheat Sep 2017 473.25 +2.50 +0.53%
Wheat Dec 2017 492.00 +2.25 +0.46%
Minneapolis
Spring Wheat Mar 2017 568.50 -8.00 -1.39%
Spring Wheat May 2017 560.50 -3.75 -0.66%
Spring Wheat Jul 2017 558.50 -2.50 -0.45%
Spring Wheat Sep 2017 558.75 -2.50 -0.45%
Spring Wheat Dec 2017 566.00 -2.75 -0.48%
Kansas City
Hard Red Wheat Mar 2017 443.00 +0.75 +0.17%
Hard Red Wheat May 2017 455.00 +0.75 +0.17%
Hard Red Wheat Jul 2017 466.50 +0.50 +0.11%
Hard Red Wheat Sep 2017 480.25 unch 0.00%
Hard Red Wheat Dec 2017 500.50 +0.25 +0.05%
Chicago livestock futures in US¢/pound (rounded to two decimal places)
Live Cattle (P) Feb 2017 120.25 -0.78 -0.64%
Live Cattle (P) Apr 2017 118.98 -0.89 -0.74%
Live Cattle (P) Jun 2017 108.70 -0.47 -0.43%
Feeder Cattle (P) Jan 2017 133.10 +1.15 +0.87%
Feeder Cattle (P) Mar 2017 131.28 +1.13 +0.87%
Feeder Cattle (P) Apr 2017 130.10 +0.63 +0.49%
Lean Hogs (P) Feb 2017 65.30 -0.13 -0.20%
Lean Hogs (P) Apr 2017 68.48 -0.49 -0.71%
Lean Hogs (P) May 2017 73.28 -0.82 -1.11%
