Canola remains under pressure, despite support from a slightly more optimistic soybean market in the United States. On Chicago beans were up 2.75 cents, getting to more than US$9.24 per bushel. Canola for January was up C$3 per tonne, to $481.40 on ICE as the day wound to a trading close.
A Canadian dollar that continues to rise has made canola less attractive both for domestic crush and for seed exporters. The Loonie rose compared to the Greenback, reaching about 75 US cents today.
Wheat and corn were off for the start of the week on American markets, after several days of good rises last week. Hard red spring on Chicago was down 2.25 cents to $5.68 per bushel. American winter wheat was flat, at $5.16-6. Supply and demand didn’t seem to be at plays as much as some technical balancing that was going on in the trade.
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Chicago Board of Trade corn futures extended slight gains on Tuesday as short covering and bargain buying continued to support a rebound from contract lows reached during the previous session.
Russia appears to be wearing through its wheat stocks and news out of winter wheat country in the U.S., that American farmers did, in fact, not plant as much wheat last fall as the market was projecting are underlying even greater success to come, especially for hard red spring crops.
Durum remains under pressure, with little hope in sight and Canadian and Plains farmers indicating that they won’t be using up otherwise potentially profitable wheat acres with the crop this spring.
From a low of $245.50 per tonne in southeastern Saskatchewan to a high of $265 in southern Alberta, 1CWRS 13.5 or better wheat was off about $3.50 per tonne today in Prairies markets, according to Alberta Commission’s PDQ system.
Durum remains in the $219 to $235 range per tonne at the elevators and canola remains in the low to mid-$460 range.
With the Christmas cattle market over, prices rebounded in Western Canada. Canfax’s weighted average price for fed steers was over $160 per hundredweight, the highest since last May. Alberta prices are still trading below those in Nebraska, however.
| Name / Contract | High | Low | Last | Change | Settlement |
| Canola Jan 2019 (updated 11:51AM(CST) on 1/7/2019) | 481.10 | 481.10 | 481.10 | 2.70 | 481.10 |
| Canola Mar 2019 (updated 1:19PM(CST) on 1/7/2019) | 486.50 | 483.60 | 485.20 | -0.20 | 485.20 |
| Canola May 2019 (updated 1:19PM(CST) on 1/7/2019) | 494.90 | 492.00 | 493.80 | 0.10 | 493.80 |
| Canola Jul 2019 (updated 1:19PM(CST) on 1/7/2019) | 503.10 | 498.60 | 501.80 | 1.30 | 501.80 |
| Canola Nov 2019 (updated 1:17PM(CST) on 1/7/2019) | 500.90 | 496.90 | 499.80 | 2.10 | 499.80 |
| Soybeans Jan 2019 | 915.75 | 909.50 | 911.75 | 2.25 | 911.75 |
| Soybeans Mar 2019 | 927.75 | 920.75 | 923.50 | 2.00 | 923.50 |
| Soybeans May 2019 | 941.25 | 933.50 | 937.00 | 2.50 | 937.00 |
| Soybeans Jul 2019 | 952.25 | 945.25 | 948.50 | 2.50 | 948.50 |
| Soybeans Aug 2019 | 956.50 | 950.00 | 952.50 | 2.00 | 952.50 |
| Soybeans Sep 2019 | 957.50 | 953.50 | 954.50 | 2.75 | 954.50 |
| Soybean Meal Jan 2019 | 319.30 | 316.00 | 318.00 | 2.90 | 318.00 |
| Soybean Meal Mar 2019 | 323.30 | 319.20 | 321.80 | 2.80 | 321.80 |
| Soybean Meal May 2019 | 326.40 | 322.60 | 325.00 | 2.70 | 325.00 |
| Soybean Oil Jan 2019 | 28.55 | 28.26 | 28.26 | -0.15 | 28.26 |
| Soybean Oil Mar 2019 | 28.80 | 28.47 | 28.49 | -0.15 | 28.49 |
| Soybean Oil May 2019 | 29.06 | 28.74 | 28.75 | -0.15 | 28.75 |
| Corn Mar 2019 | 384.00 | 381.75 | 383.00 | unch | 383.00 |
| Corn May 2019 | 391.75 | 389.75 | 390.75 | -0.25 | 390.75 |
| Corn Jul 2019 | 399.00 | 397.00 | 398.25 | unch | 398.25 |
| Corn Sep 2019 | 400.50 | 398.75 | 400.25 | 0.50 | 400.25 |
| Corn Dec 2019 | 404.25 | 402.75 | 404.00 | unch | 404.00 |
| Oats Mar 2019 | 280.25 | 276.50 | 279.25 | -0.75 | 279.25 |
| Oats May 2019 | 279.50 | 274.00 | 276.25 | -4.00 | 276.25 |
| Oats Jul 2019 | 278.50 | 275.00 | 278.50 | -3.00 | 278.50 |
| Oats Sep 2019 | 269.00 | 269.00 | 269.00 | -3.00 | 269.00 |
| Oats Dec 2019 | 266.00 | 266.00 | 266.00 | -3.75 | 266.00 |
| Wheat Mar 2019 | 518.50 | 513.50 | 516.50 | -0.50 | 516.50 |
| Wheat May 2019 | 524.25 | 519.25 | 521.50 | -1.25 | 521.50 |
| Wheat Jul 2019 | 530.50 | 525.50 | 527.00 | -2.50 | 527.00 |
| Wheat Sep 2019 | 539.50 | 534.50 | 535.25 | -3.50 | 535.25 |
| Wheat Dec 2019 | 554.00 | 548.25 | 549.00 | -4.50 | 549.00 |
| Spring Wheat Mar 2019 | 572.00 | 565.50 | 566.75 | -3.50 | 566.75 |
| Spring Wheat May 2019 | 577.25 | 570.75 | 572.00 | -3.50 | 572.00 |
| Spring Wheat Jul 2019 | 582.00 | 577.25 | 580.00 | -1.75 | 580.00 |
| Spring Wheat Sep 2019 | 590.50 | 585.50 | 586.00 | -3.25 | 586.00 |
| Spring Wheat Dec 2019 | 605.00 | 598.50 | 599.25 | -3.75 | 599.25 |
| Hard Red Wheat Mar 2019 | 507.25 | 500.50 | 503.25 | -2.75 | 503.25 |
| Hard Red Wheat May 2019 | 518.75 | 512.00 | 514.75 | -2.75 | 514.75 |
| Hard Red Wheat Jul 2019 | 529.25 | 522.75 | 525.25 | -2.75 | 525.25 |
| Hard Red Wheat Sep 2019 | 540.00 | 535.25 | 537.50 | -2.25 | 537.50 |
| Hard Red Wheat Dec 2019 | 556.00 | 551.75 | 553.75 | -3.00 | 553.75 |
| Live Cattle (Pit) Feb 2019 | 123.20 | 123.20 | 123.20 | 1.28 | 123.20 |
| Live Cattle (Pit) Apr 2019 | 125.08 | 125.08 | 125.08 | 1.08 | 125.08 |
| Live Cattle (Pit) Jun 2019 | 116.53 | 116.53 | 116.53 | 0.98 | 116.53 |
| Feeder Cattle (Pit) Jan 2019 | 146.00 | 146.00 | 146.00 | 1.10 | 146.00 |
| Feeder Cattle (Pit) Mar 2019 | 143.90 | 143.90 | 143.90 | 1.08 | 143.90 |
| Feeder Cattle (Pit) Apr 2019 | 144.70 | 144.70 | 144.70 | 1.05 | 144.70 |
| Lean Hogs (Pit) Feb 2019 | 61.90 | 61.90 | 61.90 | -0.05 | 61.90 |
| Lean Hogs (Pit) Apr 2019 | 66.38 | 66.38 | 66.38 | -0.38 | 66.38 |
| Lean Hogs (Pit) May 2019 | 72.93 | 72.93 | 72.93 | -0.53 | 72.93 |
| Canadian Dollar Jan 2019 | 0.7530 | 0.7479 | 0.7530 | 0.0063 | 0.7530 |
| Crude Oil WTI Feb 2019 | 49.79 | 48.11 | 48.72 | 0.76 | 48.72 |
Prices updated at 1:20PM(CST) on 1/7/2019
