Canola, soy down ahead of USDA report

ICE Futures canola contracts were weaker on Tuesday, taking some direction from the Chicago Board of Trade soy complex as traders adjusted positions ahead of Wednesday’s production report from the United States Department of Agriculture.

Seasonal harvest pressure added to the softer tone in canola, despite highly variable yield reports across the Prairies.

Chart-based speculative selling was also bearish, as prices dipped below nearby technical support.

However, recent cold and wet conditions in parts of Western Canada helped temper the declines.

About 7,990 canola contracts traded, which compares with Monday when 7,650 contracts changed hands. Spreading accounted for 2,450 of the contracts traded.

OUTSIDE MARKETS

Light crude oil nearby futures in New York was up $1.71 at US$69.25 per barrel.

In the afternoon, the Canadian dollar was trading around US76.28 cents, up from 75.97 cents the previous trading day. The U.S. dollar was C$1.3110.

 

Winnipeg ICE Futures Canada dollars per tonne.

Canola Nov 18 493.60s -3.10 -0.62%

Canola Jan 19 500.10s -2.80 -0.56%

Canola Mar 19 505.60s -2.70 -0.53%

Canola May 19 510.40s -1.70 -0.33%

Canola Jul 19 514.20s -1.00 -0.19%

 

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 Sep 18 820-2s -13-2 -1.59%

Soybeans Nov 18 831-6s -13-4 -1.60%

Soybeans Jan 19 845-4s -13-4 -1.57%

Soybeans Mar 19 858-2s -13-4 -1.55%

Soybeans May 19 870-0s -13-2 -1.50%

 

Soybean Meal Sep 18 314.2s -1.7 -0.54%

Soybean Meal Oct 18 314.2s -2.1 -0.66%

Soybean Meal Dec 18 316.2s -2.4 -0.75%

 

Soybean Oil Sep 18 27.73s -0.30 -1.07%

Soybean Oil Oct 18 27.82s -0.28 -1.00%

Soybean Oil Dec 18 28.08s -0.28 -0.99%

 

Corn Sep 18 355-2s -0-2 -0.07%

Corn Dec 18 366-6s -0-4 -0.14%

Corn Mar 19 378-4s -0-6 -0.20%

Corn May 19 386-4s -0-2 -0.06%

Corn Jul 19 392-0s -0-4 -0.13%

 

Oats Sep 18 233-6s -5-0 -2.09%

Oats Dec 18 246-4s -5-0 -1.99%

Oats Mar 19 250-6s -5-2 -2.05%

Oats May 19 254-0s -5-0 -1.93%

Oats Jul 19 256-6s -4-6 -1.82%

 

Wheat Sep 18 493-6s -10-2 -2.03%

Wheat Dec 18 518-6s -9-4 -1.80%

Wheat Mar 19 537-6s -9-0 -1.65%

Wheat May 19 551-4s -8-6 -1.56%

Wheat Jul 19 552-4s -8-0 -1.43%

 

Minneapolis

Spring Wheat Sep 18 564-2s +4-4 +0.80%

Spring Wheat Dec 18 575-2s -4-6 -0.82%

Spring Wheat Mar 19 589-4s -5-2 -0.88%

Spring Wheat May 19 598-2s -5-2 -0.87%

Spring Wheat Jul 19 605-4s -5-4 -0.90%

 

Kansas City

Hard Red Wheat Sep 18 494-2s -9-4 -1.89%

Hard Red Wheat Dec 18 522-6s -8-0 -1.51%

Hard Red Wheat Mar 19 542-6s -7-6 -1.41%

Hard Red Wheat May 19 556-2s -7-2 -1.29%

Hard Red Wheat Jul 19 557-4s -7-0 -1.24%

 

Chicago livestock futures in US¢/pound, Pit trade

Live Cattle Oct 18 109.300s -0.850 -0.77%

Live Cattle Dec 18 113.925s -0.500 -0.44%

Live Cattle Feb 19 118.400s -0.125 -0.11%

 

Feeder Cattle Sep 18 152.125s -0.400 -0.26%

Feeder Cattle Oct 18 152.450s -0.225 -0.15%

Feeder Cattle Nov 18 152.425s -0.450 -0.29%

 

Lean Hogs Oct 18 54.475s -1.475 -2.64%

Lean Hogs Dec 18 54.100s -1.600 -2.87%

Lean Hogs Feb 19 63.325s -0.600 -0.94%

 

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