Canola stands stronger, separating from soy

OTTAWA, (Reuters) – ICE canola futures rose on Monday.

Canola was trading on its own strength and was not really following soybean oil, in part, because of the weak Canadian dollar, a trader said, adding that from a technical standpoint canola is starting to look a bit more bullish. There were also strong canola exports to Europe in the past week.

May canola gained $4.60 to $467.50 per tonne.

The Canadian dollar weakened against its U.S. counterpart as the price of oil fell and the greenback climbed against a basket of other major currencies.

May-July canola spread traded 5,496 times.

U.S. corn futures fell more than 1% on Monday on slower grain demand from ethanol makers.

Euronext May rapeseed futures and Malaysian June palm oil futures rose.

 

OUTSIDE MARKETS

Light crude oil nearby futures in New York was down $1.42 at US$20.09 per barrel.

In the afternoon, the Canadian dollar was trading around US70.64 cents, up from $71.14 cents the previous trading day. The U.S. dollar was C$1.4156.

 

Winnipeg ICE Futures Canada dollars per tonne.

Canola May 20 467.50s +4.60 +0.99%

Canola Jul 20 476.40s +4.60 +0.97%

Canola Nov 20 485.90s +4.30 +0.89%

Canola Jan 21 491.20s +3.30 +0.68%

Canola Mar 21 496.30s +2.70 +0.55%

 

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

Soybean May 20 882-2s +0-6 +0.09%

Soybean Jul 20 886-4s +1-2 +0.14%

Soybean Aug 20 886-0s +0-2 +0.03%

Soybean Sep 20 877-6s -1-2 -0.14%

Soybean Nov 20 874-4s -2-2 -0.26%

 

Soybean Meal May 20 325.5s +2.4 +0.74%

Soybean Meal Jul 20 320.9s +1.2 +0.38%

Soybean Meal Aug 20 315.0s +0.9 +0.29%

 

Soybean Oil May 20 26.87s +0.02 +0.07%

Soybean Oil Jul 20 27.23s +0.01 +0.04%

Soybean Oil Aug 20 27.40s +0.01 +0.04%

 

Corn May 20 341-2s -4-6 -1.37%

Corn Jul 20 347-4s -4-2 -1.21%

Corn Sep 20 352-0s -4-0 -1.12%

Corn Dec 20 359-6s -4-4 -1.24%

Corn Mar 21 369-2s -4-6 -1.27%

 

Oats May 20 261-4s -4-0 -1.51%

Oats Jul 20 263-6s +0-2 +0.09%

Oats Sep 20 259-4s +1-6 +0.68%

Oats Dec 20 256-0s +2-4 +0.99%

Oats Mar 21 260-0s +2-4 +0.97%

 

Wheat May 20 569-4s -1-6 -0.31%

Wheat Jul 20 558-2s +1-0 +0.18%

Wheat Sep 20 559-0s +2-2 +0.40%

Wheat Dec 20 566-6s +3-4 +0.62%

Wheat Mar 21 572-0s +5-6 +1.02%

 

Minneapolis

Spring Wheat May 20 534-6s -2-2 -0.42%

Spring Wheat Jul 20 544-4s -1-0 -0.18%

Spring Wheat Sep 20 553-2s -0-4 -0.09%

Spring Wheat Dec 20 563-6s unch unch

Spring Wheat Mar 21 574-2s -0-2 -0.04%

 

Kansas City

Hard Red Wheat May 20 486-6s unch unch

Hard Red Wheat Jul 20 492-6s +1-2 +0.25%

Hard Red Wheat Sep 20 499-6s +1-2 +0.25%

Hard Red Wheat Dec 20 510-6s +1-2 +0.25%

Hard Red Wheat Mar 21 520-6s +2-6 +0.53%

 

Chicago livestock futures in US¢/pound, Pit trade

Live Cattle Apr 20 99.200s -1.750 -1.73%

Live Cattle Jun 20 89.075s -0.350 -0.39%

Live Cattle Aug 20 90.625s +0.175 +0.19%

 

Feeder Cattle Apr 20 120.050s -0.550 -0.46%

Feeder Cattle May 20 120.900s -0.025 -0.02%

Feeder Cattle Aug 20 126.925s -0.175 -0.14%

 

Lean Hogs Apr 20 53.950s -4.500 -7.70%

Lean Hogs May 20 53.125s -4.500 -7.81%

Lean Hogs Jun 20 59.775s -4.475 -6.96%

 

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