Winnipeg – The ICE Futures canola contacts finished the day stronger, despite continuing concerns about China.
There is ongoing concern from traders that China/Canada relations are affecting canola exports, with China lowering purchases.
The latest Canadian Grain Commission data this morning showed canola exports are at 4.628 million tonnes, down from 5.057 million tonnes at this time last year.
Chicago Board of Trade (CBOT) soybean, oil and meal contracts were all stronger. While canola found support from the soy complex, it lagged in value compared to soy.
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United States markets will be closed Monday for Martin Luther King Jr. Day, while the canola market will trade normal hours.
About 23,251 canola contracts traded, which compares with Thursday when 14,983 contracts changed hands. Spreading accounted for 14,200 of the contracts traded.
Bloomberg reported this morning that China offered a six-year boost in imports from the United States during trade talks earlier in the month. The U.S. had a trade deficit of US$323 billion with China last year; this deal would aim to reduce that annual trade difference to US$0 by 2024.
China and the U.S. will be meeting later this month to continue trade negotiations. The 90-day truce is set to end at the end of February.
CBOT corn prices finished the day mostly stronger, finding sympathy support from the soy complex.
Indonesia has delayed its deadline for their tender of 30,000 tonnes of corn.
The wheat markets have been finding support from rumors of more wheat being sold to Asian countries.
Philippine importers bought around 85,000 tonnes of feed wheat earlier this week.
There are reports that Russia’s Agriculture Ministry is planning to regulate domestic grain prices in an effort to maintain stability on the market.
OUTSIDE MARKETS
Light crude oil nearby futures in New York was up $1.73 at UOUTSIDE MARKETS
Light crude oil nearby futures in New York was up $1.73 at US$53.80 per barrel.
In the afternoon, the Canadian dollar was trading around US75.41 cents, up from 75.22 cents the previous trading day. The U.S. dollar was C$1.3260.
Winnipeg ICE Futures Canada dollars per tonne.
Canola Mar 19 484.20s +1.00 +0.21%
Canola May 19 492.30s +1.10 +0.22%
Canola Jul 19 500.50s +1.70 +0.34%
Canola Nov 19 498.40s +1.20 +0.24%
Canola Jan 20 503.60s +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 Mar 19 916-6s +9-0 +0.99%
Soybeans May 19 930-0s +9-0 +0.98%
Soybeans Jul 19 942-4s +8-4 +0.91%
Soybeans Aug 19 947-4s +8-4 +0.91%
Soybeans Sep 19 949-0s +8-0 +0.85%
Soybean Meal Mar 19 315.1s +2.9 +0.93%
Soybean Meal May 19 318.6s +2.8 +0.89%
Soybean Meal Jul 19 322.3s +2.7 +0.84%
Soybean Oil Mar 19 29.01s +0.24 +0.83%
Soybean Oil May 19 29.29s +0.25 +0.86%
Soybean Oil Jul 19 29.59s +0.26 +0.89%
Corn Mar 19 381-6s +1-6 +0.46%
Corn May 19 390-0s +2-0 +0.52%
Corn Jul 19 397-2s +1-6 +0.44%
Corn Sep 19 399-6s +1-2 +0.31%
Corn Dec 19 403-6s +0-4 +0.12%
Oats Mar 19 298-6s +3-0 +1.01%
Oats May 19 295-0s +2-4 +0.85%
Oats Jul 19 293-4s +2-6 +0.95%
Oats Sep 19 284-2s +2-0 +0.71%
Oats Dec 19 281-0s +4-0 +1.44%
Wheat Mar 19 517-6s unch unch
Wheat May 19 523-4s +0-4 +0.10%
Wheat Jul 19 528-6s +0-4 +0.09%
Wheat Sep 19 536-6s unch unch
Wheat Dec 19 550-0s +0-2 +0.05%
Minneapolis
Spring Wheat Mar 19 574-2s +2-2 +0.39%
Spring Wheat May 19 579-0s +2-2 +0.39%
Spring Wheat Jul 19 585-4s +2-2 +0.39%
Spring Wheat Sep 19 592-2s +1-6 +0.30%
Spring Wheat Dec 19 604-4s +1-0 +0.17%
Kansas City
Hard Red Wheat Mar 19 506-0s +2-0 +0.40%
Hard Red Wheat May 19 515-2s +0-6 +0.15%
Hard Red Wheat Jul 19 524-4s unch unch
Hard Red Wheat Sep 19 536-6s +0-2 +0.05%
Hard Red Wheat Dec 19 552-6s -0-4 -0.09%
Chicago livestock futures in US¢/pound, Pit trade
Live Cattle Feb 19 126.525s -0.575 -0.45%
Live Cattle Apr 19 127.375s +0.475 +0.37%
Live Cattle Jun 19 117.450s +0.625 +0.53%
Feeder Cattle Jan 19 141.450s +0.025 +0.02%
Feeder Cattle Mar 19 142.825s -0.100 -0.07%
Feeder Cattle Apr 19 144.400s +0.175 +0.12%
Lean Hogs Feb 19 61.225s +0.375 +0.62%
Lean Hogs Apr 19 66.275s +1.650 +2.55%
Lean Hogs May 19 72.025s +1.400 +1.98%
In the afternoon, the Canadian dollar was trading around US75.41 cents, up from 75.22 cents the previous trading day. The U.S. dollar was C$1.3260.
Winnipeg ICE Futures Canada dollars per tonne.
Canola Mar 19 484.20s +1.00 +0.21%
Canola May 19 492.30s +1.10 +0.22%
Canola Jul 19 500.50s +1.70 +0.34%
Canola Nov 19 498.40s +1.20 +0.24%
Canola Jan 20 503.60s +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 Mar 19 916-6s +9-0 +0.99%
Soybeans May 19 930-0s +9-0 +0.98%
Soybeans Jul 19 942-4s +8-4 +0.91%
Soybeans Aug 19 947-4s +8-4 +0.91%
Soybeans Sep 19 949-0s +8-0 +0.85%
Soybean Meal Mar 19 315.1s +2.9 +0.93%
Soybean Meal May 19 318.6s +2.8 +0.89%
Soybean Meal Jul 19 322.3s +2.7 +0.84%
Soybean Oil Mar 19 29.01s +0.24 +0.83%
Soybean Oil May 19 29.29s +0.25 +0.86%
Soybean Oil Jul 19 29.59s +0.26 +0.89%
Corn Mar 19 381-6s +1-6 +0.46%
Corn May 19 390-0s +2-0 +0.52%
Corn Jul 19 397-2s +1-6 +0.44%
Corn Sep 19 399-6s +1-2 +0.31%
Corn Dec 19 403-6s +0-4 +0.12%
Oats Mar 19 298-6s +3-0 +1.01%
Oats May 19 295-0s +2-4 +0.85%
Oats Jul 19 293-4s +2-6 +0.95%
Oats Sep 19 284-2s +2-0 +0.71%
Oats Dec 19 281-0s +4-0 +1.44%
Wheat Mar 19 517-6s unch unch
Wheat May 19 523-4s +0-4 +0.10%
Wheat Jul 19 528-6s +0-4 +0.09%
Wheat Sep 19 536-6s unch unch
Wheat Dec 19 550-0s +0-2 +0.05%
Minneapolis
Spring Wheat Mar 19 574-2s +2-2 +0.39%
Spring Wheat May 19 579-0s +2-2 +0.39%
Spring Wheat Jul 19 585-4s +2-2 +0.39%
Spring Wheat Sep 19 592-2s +1-6 +0.30%
Spring Wheat Dec 19 604-4s +1-0 +0.17%
Kansas City
Hard Red Wheat Mar 19 506-0s +2-0 +0.40%
Hard Red Wheat May 19 515-2s +0-6 +0.15%
Hard Red Wheat Jul 19 524-4s unch unch
Hard Red Wheat Sep 19 536-6s +0-2 +0.05%
Hard Red Wheat Dec 19 552-6s -0-4 -0.09%
Chicago livestock futures in US¢/pound, Pit trade
Live Cattle Feb 19 126.525s -0.575 -0.45%
Live Cattle Apr 19 127.375s +0.475 +0.37%
Live Cattle Jun 19 117.450s +0.625 +0.53%
Feeder Cattle Jan 19 141.450s +0.025 +0.02%
Feeder Cattle Mar 19 142.825s -0.100 -0.07%
Feeder Cattle Apr 19 144.400s +0.175 +0.12%
Lean Hogs Feb 19 61.225s +0.375 +0.62%
Lean Hogs Apr 19 66.275s +1.650 +2.55%
Lean Hogs May 19 72.025s +1.400 +1.98%
