Canola continued its slow climb up the markets ladder Thursday, as technical trading took over from headline-induced speculation in wheat and elsewhere over the past few days.
Drought talk in the American Mid-west and Western Canada also fueled some price support, but it was largely positive sounds from the White House about a levelling-off of tariff tit-for-tat with Europe that allowed for greater calm overall.
Canola was up $3.30 per tonne to $492.80 for November, $3.40 to $499.20 for the January contract and $3.30 for the remainder of the 2019 months through July, ranging from $504.70 to $511.60.
On the Chicago Board of Trade August soybeans were off a penny and three-quarters to US$8.59 per bushel and didn’t break above $9 until May 2019, at $9.04-50, although that price was off 2-25 US cents.
U.S. spring wheat was up slightly to $6.25-25 on Chicago, however that was the only wheat that was, with all other being off due to rounds of technical selling, despite drought news from Europe and reduced yield projections from the former soviet socialist republics. The International Grains Council reported a drop in its wheat yield estimates for this crop by 590 million bushels, citing Europe and Russia as the causes.
FarmLink Marketing Solutions completed its Grainworld crop tour in Canada and is projecting a wheat yield of 54.4 bushels per acre average and durum coming it at 39.
The American Wheat Quality Council completed its tour as well, with the wheat belt average scoring a 41.3 bushels per acre average, behind their five-year number of 44.7 and higher than last year’s drought-damaged 35.8.
FarmLink pegged canola yields at 41.9 bushels per acre for the current crop, up from 41 last year and the five-year average of 39.5.
|Name / Contract||High||Low||Last||Change||Settlement|
|Canola Nov 2018 (updated 1:50PM(CST) on 7/26/2018)||495.50||489.70||492.80||3.30||492.80|
|Canola Jan 2019 (updated 1:52PM(CST) on 7/26/2018)||501.90||495.90||499.20||3.40||499.20|
|Canola Mar 2019 (updated 1:51PM(CST) on 7/26/2018)||507.40||501.50||504.70||3.30||504.70|
|Canola May 2019 (updated 1:51PM(CST) on 7/26/2018)||512.20||506.30||509.50||3.30||509.50|
|Canola Jul 2019 (updated 1:51PM(CST) on 7/26/2018)||514.30||508.40||511.60||3.30||511.60|
|Soybeans Aug 2018||881.00||858.25||859.00||-1.75||861.25|
|Soybeans Sep 2018||886.25||863.25||863.75||-2.25||866.25|
|Soybeans Nov 2018||896.00||873.25||873.75||-2.00||876.00|
|Soybeans Jan 2019||906.25||883.75||883.75||-2.50||886.25|
|Soybeans Mar 2019||915.00||893.25||893.25||-2.50||895.50|
|Soybeans May 2019||924.00||902.25||902.50||-2.25||904.50|
|Soybean Meal Aug 2018||337.90||331.20||332.00||2.00||332.60|
|Soybean Meal Sep 2018||337.50||330.70||331.60||2.20||332.10|
|Soybean Meal Oct 2018||336.80||330.30||331.10||2.30||331.70|
|Soybean Oil Aug 2018||28.69||28.11||28.16||-0.25||28.15|
|Soybean Oil Sep 2018||28.80||28.22||28.29||-0.22||28.27|
|Soybean Oil Oct 2018||28.88||28.32||28.37||-0.24||28.37|
|Corn Sep 2018||365.75||360.25||360.50||1.25||361.50|
|Corn Dec 2018||379.75||374.25||374.50||1.25||375.75|
|Corn Mar 2019||390.25||385.25||385.25||1.00||386.25|
|Corn May 2019||396.00||391.00||391.00||0.75||392.00|
|Corn Jul 2019||401.25||396.00||396.00||unch||397.25|
|Oats Sep 2018||234.75||232.50||233.25||1.00||232.50|
|Oats Dec 2018||242.00||239.00||239.75||0.75||239.00|
|Oats Mar 2019||244.00||244.00||243.50||unch||243.50|
|Oats May 2019||245.25||245.25||245.25||unch||245.25|
|Oats Jul 2019||249.00||249.00||249.00||-1.25||249.00|
|Wheat Sep 2018||553.75||532.00||535.50||-7.25||536.50|
|Wheat Dec 2018||572.75||552.00||555.00||-6.75||556.50|
|Wheat Mar 2019||587.00||566.50||570.75||-6.00||572.00|
|Wheat May 2019||592.00||573.75||577.00||-6.50||577.75|
|Wheat Jul 2019||590.00||574.00||575.75||-8.50||576.50|
|Spring Wheat Sep 2018||611.75||582.50||587.75||0.50||587.75|
|Spring Wheat Dec 2018||625.00||596.75||601.75||-1.25||601.75|
|Spring Wheat Mar 2019||637.50||611.25||616.75||-0.75||616.75|
|Spring Wheat May 2019||641.75||623.25||625.25||0.50||625.25|
|Spring Wheat Jul 2019||649.75||631.75||631.25||-0.25||631.25|
|Hard Red Wheat Sep 2018||553.50||527.50||532.75||-8.00||534.00|
|Hard Red Wheat Dec 2018||579.25||554.00||559.00||-7.25||560.50|
|Hard Red Wheat Mar 2019||595.50||571.25||576.75||-6.25||577.75|
|Hard Red Wheat May 2019||601.75||580.25||585.50||-5.50||585.50|
|Hard Red Wheat Jul 2019||601.00||582.75||585.50||-7.25||587.50|
|Live Cattle (P) Aug 2018||110.67||106.80||108.28||-0.75||107.95|
|Live Cattle (P) Oct 2018||112.25||108.18||109.78||-1.00||109.38|
|Live Cattle (P) Dec 2018||115.88||112.48||113.85||-0.95||113.65|
|Feeder Cattle (P) Aug 2018||154.22||149.80||151.48||-1.35||151.43|
|Feeder Cattle (P) Sep 2018||154.30||150.25||151.85||-1.40||151.83|
|Feeder Cattle (P) Oct 2018||155.28||151.32||152.83||-1.62||152.88|
|Lean Hogs (P) Aug 2018||66.88||64.60||65.05||-1.35||64.90|
|Lean Hogs (P) Oct 2018||55.98||52.15||52.42||-1.51||52.25|
|Lean Hogs (P) Dec 2018||50.78||47.30||47.52||-1.40||47.45|
|Canadian Dollar Aug 2018||0.7677||0.7647||0.7654||-0.0009||0.7654|
|Crude Sep 2018||69.92||68.92||69.53||0.23||69.61|