Canola lost ground in August

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Published: August 29, 2014

Canola futures limped out of August at less than $420 per tonne for November futures, representing a $20-something loss of value over the month.

December spring wheat futures opened and closed the month just beneath the $6.30 per bushel level, although they spent some of the month below $6.20 before recovering some strength, and after having surged in early August to above $6.50.

Oats saw a nice trending higher, with a rise from a base of $3.30 to apparent support at $3.42.

All in all, the month was not as explosive as some expected, except in old crop months that got exciting as positions closed.

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Canola lost ground in August

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Recent sessions have been quiet with no new news and many traders absent able to provoke much reaction in prices.

Most North American crops look good, as do those in the rest of the Northern Hemisphere, and traders are keen to see actual yields when harvest goes into full swing in coming days.

Until then the markets seem comfortable assuming adequate supplies of almost everything are coming into the system soon.

Late Friday the S & P 500 was just shy of 2,000 and the Dow 30 at 1,764.

Economics and earnings news was mixed.

Winnipeg ICE Futures Canada dollars per tonne

Canola Nov 2014    419.80    -5.40    -1.27%
Canola Jan 2015    425.80    -5.20    -1.21%
Canola Mar 2015    431.20    -4.90    -1.12%
Canola May 2015    433.60    -4.40    -1.00%
Canola Jul 2015    434.40    -3.90    -0.89%

Milling Wheat Oct 2014    205.00    unch    0.00%

Milling Wheat Dec 2014    210.00    -1.00    -0.47%
Milling Wheat Mar 2015    219.00    unch    0.00%

Durum Wheat Oct 2014    250.00    unch    0.00%
Durum Wheat Dec 2014    256.00    unch    0.00%
Durum Wheat Mar 2015    257.00    unch    0.00%

Barley Oct 2014    125.00    unch    0.00%
Barley Dec 2014    127.00    unch    0.00%
Barley Mar 2015    128.00    unch    0.00%

American crop prices in cents US/bushel, soybean meal in $US/short ton, soy oil in cents US/pound

Chicago
Soybeans Sep 2014    1089.5    +15.75    +1.47%
Soybeans Nov 2014    1024.25    -4.5    -0.44%
Soybeans Jan 2015    1032.5    -4    -0.39%
Soybeans Mar 2015    1040.5    -3.25    -0.31%
Soybeans May 2015    1046.25    -4    -0.38%
Soybeans Jul 2015    1050.25    -4.5    -0.43%

Soybean Meal Sep 2014    439.5    +6.3    +1.45%
Soybean Meal Oct 2014    363.1    +0.2    +0.06%
Soybean Meal Dec 2014    350.7    +2.1    +0.60%

Soybean Oil Sep 2014    32.04    -0.6    -1.84%
Soybean Oil Oct 2014    32.01    -0.66    -2.02%
Soybean Oil Dec 2014    32.14    -0.65    -1.98%

Corn Sep 2014    359    -2.75    -0.76%
Corn Dec 2014    364.75    -4.5    -1.22%
Corn Mar 2015    377.75    -4.5    -1.18%
Corn May 2015    386    -4.5    -1.15%
Corn Jul 2015    392.75    -4.25    -1.07%

Oats Sep 2014    362.25    +1.25    +0.35%

Oats Dec 2014    342.25    +1.25    +0.37%
Oats Mar 2015    328.25    +0.25    +0.08%
Oats May 2015    320.75    +0.25    +0.08%
Oats Jul 2015    317.75    +0.25    +0.08%

Wheat Sep 2014    550.25    -6.25    -1.12%
Wheat Dec 2014    563.5    -8.25    -1.44%
Wheat Mar 2015    582.5    -8.75    -1.48%
Wheat May 2015    592.25    -8.5    -1.41%
Wheat Jul 2015    599.25    -6    -0.99%

Minneapolis
Spring Wheat Sep 2014    615    +3    +0.49%
Spring Wheat Dec 2014    629.75    -2.25    -0.36%
Spring Wheat Mar 2015    643    -2    -0.31%
Spring Wheat May 2015    652.75    -1.25    -0.19%
Spring Wheat Jul 2015    660    -1.25    -0.19%

Kansas City
Hard Red Wheat Sep 2014    626.25    -8.75    -1.38%
Hard Red Wheat Dec 2014    642.75    -2    -0.31%
Hard Red Wheat Mar 2015    651.5    -1.75    -0.27%
Hard Red Wheat May 2015    655.5    -1    -0.15%
Hard Red Wheat Jul 2015    646    +0.5    +0.08%

Light crude oil nearby futures in New York rose $1.41 at $95.96 US per barrel.

The Canadian dollar at noon was 92.10 cents US, down from 92.11 cents the previous trading day. The U.S. dollar at noon was $1.0858 Cdn.

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Ed White

Ed White

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