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Canola, soybeans finish lower

Winnipeg (CNS Canada) – Canola contracts on the ICE Futures Canada platform recorded losses Thursday, following a downturn in soybeans on the Chicago Board of Trade.

Losses in vegetable oil markets also weighed on the canola.

The ongoing trade saga between the United States and China cast uncertainty in the market, which spooked some investors.

Large funds have been liquidating long positions this week, which was bearish.

However, weakness in the Canadian dollar underpinned canola.

The front-month July contract received support at the C$520 per tonne level.

Around 23,318 canola contracts were traded on Thursday, which compares with Wednesday when around 19,843 contracts changed hands. Spreading accounted for 13,778 of the contracts traded.

Settlement prices are in Canadian dollars per metric tonne.

Soybean futures recorded sharp losses on Thursday, due to disappointing weekly export sales and uncertainty about trade with China.

Weekly soybean exports in the United States came in at 165,000 tonnes, which was well below the 200,000 to 500,000 tonnes analysts were expecting.

The soybean basis in the U.S. remains relatively steady.

Corn futures finished weaker, tracking weakness in ethanol futures.

A lack of fresh news about the state of the U.S. crop and spillover losses from soybeans weighed on corn.

Rains are expected in some areas of the eastern Corn Belt, which should help the crop along.

Chicago wheat futures continued to rise Thursday, with reports of excess dryness in Russian and Ukrainian wheat fields, providing the path of least resistance.

Weakness in the U.S. dollar was supportive for wheat futures.

A lack of rain in the U.S. Plains is helping move the harvest along quicker than expected.

 

 

OUTSIDE MARKETS

Light crude oil nearby futures in New York was up $1.22 at US$65.95 per barrel.

In the afternoon, the Canadian dollar was trading around US77.08 cents, down from 77.44 cents the previous trading day. The U.S. dollar was C$1.2974.

 

Winnipeg ICE Futures Canada dollars per tonne.

Canola Jul 18 520.20s -3.50 -0.67%

Canola Nov 18 513.40s -3.60 -0.70%

Canola Jan 19 520.90s -3.40 -0.65%

Canola Mar 19 525.40s -2.70 -0.51%

Canola May 19 528.20s -2.10 -0.40%

 

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 Jul 18 974-2s -20-0 -2.01%

Soybeans Aug 18 979-6s -19-6 -1.98%

Soybeans Sep 18 985-2s -19-4 -1.94%

Soybeans Nov 18 994-6s -18-6 -1.85%

Soybeans Jan 19 1002-2s -18-4 -1.81%

 

Soybean Meal Jul 18 358.4s -6.6 -1.81%

Soybean Meal Aug 18 359.8s -6.7 -1.83%

Soybean Meal Sep 18 360.7s -6.2 -1.69%

 

Soybean Oil Jul 18 30.60s -0.05 -0.16%

Soybean Oil Aug 18 30.72s -0.05 -0.16%

Soybean Oil Sep 18 30.88s -0.03 -0.10%

 

Corn Jul 18 376-2s -2-0 -0.53%

Corn Sep 18 385-2s -2-4 -0.64%

Corn Dec 18 396-6s -3-0 -0.75%

Corn Mar 19 406-0s -2-6 -0.67%

Corn May 19 412-2s -2-6 -0.66%

 

Oats Jul 18 239-0s -1-6 -0.73%

Oats Sep 18 244-6s unch unch

Oats Dec 18 246-2s +1-4 +0.61%

Oats Mar 19 249-0s +1-2 +0.50%

Oats May 19 251-6s +1-0 +0.40%

 

Wheat Jul 18 526-6s +7-0 +1.35%

Wheat Sep 18 544-2s +6-6 +1.26%

Wheat Dec 18 565-2s +7-0 +1.25%

Wheat Mar 19 583-4s +6-4 +1.13%

Wheat May 19 594-2s +6-0 +1.02%

 

Minneapolis

Spring Wheat Jul 18 597-4s -0-6 -0.13%

Spring Wheat Sep 18 607-4s unch unch

Spring Wheat Dec 18 620-2s +0-4 +0.08%

Spring Wheat Mar 19 633-6s +0-6 +0.12%

Spring Wheat May 19 642-6s +1-0 +0.16%

 

Kansas City

Hard Red Wheat Jul 18 544-4s +4-6 +0.88%

Hard Red Wheat Sep 18 563-0s +4-0 +0.72%

Hard Red Wheat Dec 18 586-6s +4-0 +0.69%

Hard Red Wheat Mar 19 602-4s +4-0 +0.67%

Hard Red Wheat May 19 611-4s +3-4 +0.58%

 

Chicago livestock futures in US¢/pound, Pit trade

Live Cattle Jun 18 108.375s +0.075 +0.07%

Live Cattle Aug 18 104.150s -0.425 -0.41%

Live Cattle Oct 18 107.150s -0.025 -0.02%

 

Feeder Cattle Aug 18 146.075s -0.675 -0.46%

Feeder Cattle Sep 18 147.550s -0.475 -0.32%

Feeder Cattle Oct 18 148.050s -0.400 -0.27%

 

Lean Hogs Jun 18 78.400s +0.225 +0.29%

Lean Hogs Jul 18 79.450s -0.500 -0.63%

Lean Hogs Aug 18 76.575s -1.050 -1.35%

 

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