Canola makes gains, despite CDN dollar

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.

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

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