Canola halts rally, Sask crops 75 harvested

Canola futures closed slightly lower Thursday on profit taking, breaking a string of modest gains.

Weather continued unsettled and cool today with moisture in some areas stopping harvest progress.

Warmer, drier weather is expected early next week.

Saskatchewan Agriculture said about 75 percent of all crops are combined, well ahead of the five-year average of 58 percent.

Canola is 64 percent combined across the province.

As is the case most years, northern regions have much less combined than southern areas.

The Canadian dollar did not recover much from Wednesday’s drop. It was trading around US81 cents.

US CROP MARKETS

Prices for soybeans, corn and wheat moved by only a few cents a bushel or less.

The USDA reported export sales of U.S. soybeans in the latest week at 2.338 million tonnes, well above a range of trade estimates for 1.2 million to 1.5 million tonnes.

Corn and wheat sales were considered weak.

US WEATHER

Large parts of the U.S. hard red winter wheat region are expecting two to four inches of rain or more over the next week.

The moisture will be welcome by most farmers in the area.

OUTSIDE MARKETS

Light crude oil nearby futures in New York were down 14 cents at US$50.55 per barrel.

In the afternoon, the Canadian dollar was trading around US81.10 cents, little changed from 81.14 cents the previous trading day. The U.S. dollar was C$1.2330.

Concerns about tensions with North Korea and rising expectations of a third U.S. interest rate hike before the end of the year weighed down stocks markets.

The Toronto Stock Exchange composite rose 65.32 points or 0.42 percent to 15,454.92.

U.S. indexes dipped after reaching record highs this week.

The Dow Jones Industrial Average fell 53.36 points, or 0.24 percent, to 22,359.23, the S&P 500 lost 7.64 points, or 0.30 percent, to 2,500.6 and the Nasdaq Composite dropped 33.35 points, or 0.52 percent, to 6,422.69.

 

 

Winnipeg ICE Futures Canada dollars per tonne

 

 

Canola Nov 17 492.10s -0.80 -0.16%

Canola Jan 18 499.10s -0.60 -0.12%

Canola Mar 18 503.40s -1.20 -0.24%

Canola May 18 506.20s -2.00 -0.39%

Canola Jul 18 507.40s -2.60 -0.51%

 

Milling Wheat Oct 17 226.00s +2.00 +0.89%

Milling Wheat Dec 17 228.00s +2.00 +0.88%

Milling Wheat Mar 18 233.00s +2.00 +0.87%

 

Durum Wheat Oct 17 279.00s unch unch

Durum Wheat Dec 17 283.00s unch unch

Durum Wheat Mar 18 286.00s unch unch

 

Barley Oct 17 145.00s unch unch

Barley Dec 17 148.00s unch unch

Barley Mar 18 151.00s unch unch

 

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 Nov 17 970-6s +0-6 +0.08%

Soybeans Jan 18 981-0s +0-4 +0.05%

Soybeans Mar 18 990-2s +0-4 +0.05%

Soybeans May 18 998-4s +0-4 +0.05%

Soybeans Jul 18 1005-0s +0-2 +0.02%

 

Soybean Meal Oct 17 309.0s +2.7 +0.88%

Soybean Meal Dec 17 312.9s +2.8 +0.90%

Soybean Meal Jan 18 314.9s +2.8 +0.90%

 

Soybean Oil Oct 17 34.10s -0.57 -1.64%

Soybean Oil Dec 17 34.34s -0.57 -1.63%

Soybean Oil Jan 18 34.50s -0.56 -1.60%

 

Corn Dec 17 350-2s +0-2 +0.07%

Corn Mar 18 363-0s +0-4 +0.14%

Corn May 18 371-2s +0-2 +0.07%

Corn Jul 18 378-0s +0-2 +0.07%

Corn Sep 18 384-6s +0-6 +0.20%

 

Oats Dec 17 250-0s +3-6 +1.52%

Oats Mar 18 257-0s +4-6 +1.88%

Oats May 18 257-4s +6-0 +2.39%

Oats Jul 18 255-0s +6-6 +2.72%

Oats Sep 18 255-0s +6-6 +2.72%

 

Wheat Dec 17 452-4s +2-6 +0.61%

Wheat Mar 18 472-0s +2-2 +0.48%

Wheat May 18 485-0s +1-6 +0.36%

Wheat Jul 18 496-2s +1-6 +0.35%

Wheat Sep 18 510-6s +2-2 +0.44%

 

Minneapolis

Spring Wheat Dec 17 624-2s +2-6 +0.44%

Spring Wheat Mar 18 636-0s +1-6 +0.28%

Spring Wheat May 18 640-4s +2-2 +0.35%

Spring Wheat Jul 18 638-2s +0-4 +0.08%

Spring Wheat Sep 18 629-4s unch unch

 

Kansas

Hard Red Wheat Dec 17 449-4s +1-4 +0.33%

Hard Red Wheat Mar 18 467-4s +1-4 +0.32%

Hard Red Wheat May 18 480-2s +1-4 +0.31%

Hard Red Wheat Jul 18 497-2s +1-4 +0.30%

Hard Red Wheat Sep 18 515-4s +1-4 +0.29%

 

Chicago livestock futures in US¢/pound, Pit trade

Live Cattle (Pit) Oct 17 110.100s -0.850 -0.77%

Live Cattle (Pit) Dec 17 116.200s -0.050 -0.04%

Live Cattle (Pit) Feb 18 119.250s +0.200 +0.17%

 

Feeder Cattle (Pit) Sep 17 153.175s -0.800 -0.52%

Feeder Cattle (Pit) Oct 17 155.875s -1.400 -0.89%

Feeder Cattle (Pit) Nov 17 156.825s -0.725 -0.46%

 

Lean Hogs (Pit) Oct 17 57.325s -1.325 -2.26%

Lean Hogs (Pit) Dec 17 57.800s -2.125 -3.55%

Lean Hogs (Pit) Feb 18 62.875s -1.625 -2.52%

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