Canola posts small losses at week’s end

 

Winnipeg (CNS Canada) – ICE Futures Canada canola contracts settled with small losses on Friday, as speculative profit-taking put some pressure on values to end the week.

Strength in the Canadian dollar throughout the session contributed to the softer tone in canola, as the rising currency cuts into crush margins and makes exports less attractive to international buyers.

 

Ample supplies in the commercial pipeline also weighed on values, according to participants.

 

However, gains in Chicago Board of Trade soybeans provided some spillover support.

 

The nearby technical bias has also shifted to the upside, and canola managed to finish well off its lows for the today.

 

About 20,702 canola contracts traded on Friday, which compares with Thursday when 20,419 contracts changed hands. Spreading accounted for 12,286 of the contracts traded.

 

OUTSIDE MARKETS

Light crude oil nearby futures in New York were up 30 cents at US$61.44 per barrel.

 

In the afternoon, the Canadian dollar was trading around US80.57 cents, up from 80.08 cents the previous trading day. The U.S. dollar was C$1.2412

 

Winnipeg ICE Futures Canada dollars per tonne.

Canola Jan 18 492.10s +1.80 +0.37%

Canola Mar 18 498.20s -0.70 -0.14%

Canola May 18 505.70s -0.30 -0.06%

Canola Jul 18 510.10s -0.50 -0.10%

Canola Nov 18 502.20s -2.40 -0.48%

 

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 Jan 18 961-4s +2-2 +0.23%

Soybeans Mar 18 970-6s +3-0 +0.31%

Soybeans May 18 981-4s +3-0 +0.31%

Soybeans Jul 18 991-0s +3-0 +0.30%

Soybeans Aug 18 993-2s +2-6 +0.28%

 

Soybean Meal Jan 18 317.9s +2.1 +0.66%

Soybean Meal Mar 18 321.9s +2.1 +0.66%

Soybean Meal May 18 324.4s +1.9 +0.59%

 

Soybean Oil Jan 18 33.65s -0.09 -0.27%

Soybean Oil Mar 18 33.76s -0.11 -0.32%

Soybean Oil May 18 33.91s -0.12 -0.35%

 

Corn Mar 18 351-2s +0-2 +0.07%

Corn May 18 359-2s unch unch

Corn Jul 18 367-4s -0-2 -0.07%

Corn Sep 18 375-2s unch unch

Corn Dec 18 384-4s unch unch

 

Oats Mar 18 248-4s +2-6 +1.12%

Oats May 18 252-0s +2-0 +0.80%

Oats Jul 18 258-0s +1-4 +0.58%

Oats Sep 18 260-0s +1-4 +0.58%

Oats Dec 18 262-0s +1-4 +0.58%

 

Wheat Mar 18 430-6s -3-2 -0.75%

Wheat May 18 442-6s -3-6 -0.84%

Wheat Jul 18 455-6s -3-4 -0.76%

Wheat Sep 18 469-4s -3-2 -0.69%

Wheat Dec 18 487-2s -2-6 -0.56%

 

Minneapolis

Spring Wheat Mar 18 626-6s -1-0 -0.16%

Spring Wheat May 18 632-2s -0-4 -0.08%

Spring Wheat Jul 18 635-2s -1-0 -0.16%

Spring Wheat Sep 18 623-0s -4-4 -0.72%

Spring Wheat Dec 18 632-2s -4-6 -0.75%

 

Kansas City

Hard Red Wheat Mar 18 437-4s -2-2 -0.51%

Hard Red Wheat May 18 451-0s -2-0 -0.44%

Hard Red Wheat Jul 18 466-4s -2-4 -0.53%

Hard Red Wheat Sep 18 482-2s -2-4 -0.52%

Hard Red Wheat Dec 18 502-0s -2-2 -0.45%

 

Chicago livestock futures in US¢/pound, Pit trade

Live Cattle Feb 18 119.250s -3.000 -2.45%

Live Cattle Apr 18 120.850s -2.975 -2.40%

Live Cattle Jun 18 112.325s -2.525 -2.20%

 

Feeder Cattle Jan 18 146.625s -2.400 -1.61%

Feeder Cattle Mar 18 141.975s -3.575 -2.46%

Feeder Cattle Apr 18 142.350s -3.475 -2.38%

 

Lean Hogs Feb 18 71.425s +0.050 +0.07%

Lean Hogs Apr 18 76.075s -0.025 -0.03%

Lean Hogs May 18 80.225s +0.100 +0.12%

About the author

By Phil Franz-Warkentin Commodity News Service Canada's recent articles

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