Canola up on rising soy, Alberta harvest trouble

Canola closed a little higher on snow in Alberta and support from soybeans and soy oil.

Snow on Halloween and today in northern Alberta will make it hard to harvest the last of the crop there.

Soybean were supported on ideas that the USDA next week in its monthly report might trim its soybean yield forecast given private reports of disappointing harvest results.

WATCH THIS WEEK’S VIDEO CROP MARKET ANALYSIS

Chicago and Kansas wheat drifted lower on large world stocks.

As of Oct. 25, Russia had exported 15.8 million tonnes of grain since the start of the 2017-18 marketing season on July 1, up 27 percent from a year earlier. Of that, wheat exports were up 21 percent at 12.3 million tonnes.

Rain is expected over the next seven days in key crop regions of Brazil, helping with seeding prospects.

OUTSIDE MARKETS

Light crude oil nearby futures in New York were fell eight cents to US$54.30 per barrel.

In the afternoon, the Canadian dollar was trading around US77.75 cents, up from 77.52 cents the previous trading day. The U.S. dollar was C$1.286.

The U.S. Federal Reserve kept its interest rate steady at its meeting today.

The TSX composite rose 3.74 points or 0.02 percent to 16,029.33.

The Dow Jones Industrial Average rose 57.77 points, or 0.25 percent, to 23,435.01, the S&P 500 gained 4.1 points, or 0.16 percent, to 2,579.36 and the Nasdaq Composite dropped 11.14 points, or 0.17 percent, to 6,716.53.

 

Winnipeg ICE Futures Canada dollars per tonne

Canola Nov 17 514.60s +0.30 +0.06%

Canola Jan 18 521.10s +2.40 +0.46%

Canola Mar 18 527.60s +2.50 +0.48%

Canola May 18 531.50s +2.40 +0.45%

Canola Jul 18 534.00s +2.20 +0.41%

 

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 Nov 17 981-0s +7-2 +0.74%

Soybeans Jan 18 991-2s +6-4 +0.66%

Soybeans Mar 18 1001-4s +6-4 +0.65%

Soybeans May 18 1010-4s +6-2 +0.62%

Soybeans Jul 18 1018-0s +5-6 +0.57%

 

Soybean Meal Dec 17 313.6s +1.8 +0.58%

Soybean Meal Jan 18 315.7s +1.9 +0.61%

Soybean Meal Mar 18 319.3s +2.2 +0.69%

 

Soybean Oil Dec 17 34.90s +0.15 +0.43%

Soybean Oil Jan 18 35.06s +0.14 +0.40%

Soybean Oil Mar 18 35.23s +0.12 +0.34%

 

Corn Dec 17 348-2s +2-4 +0.72%

Corn Mar 18 361-6s +2-2 +0.63%

Corn May 18 370-4s +2-2 +0.61%

Corn Jul 18 377-6s +1-6 +0.47%

Corn Sep 18 384-2s +1-4 +0.39%

 

Oats Dec 17 271-4s +6-6 +2.55%

Oats Mar 18 275-0s +5-6 +2.14%

Oats May 18 276-4s +3-4 +1.28%

Oats Jul 18 277-0s +3-6 +1.37%

Oats Sep 18 277-0s +3-6 +1.37%

 

Wheat Dec 17 418-0s -0-4 -0.12%

Wheat Mar 18 436-0s unch unch

Wheat May 18 449-2s unch unch

Wheat Jul 18 463-2s -0-4 -0.11%

Wheat Sep 18 479-0s -0-4 -0.10%

 

Minneapolis

Spring Wheat Dec 17 614-0s +1-2 +0.20%

Spring Wheat Mar 18 627-6s +1-0 +0.16%

Spring Wheat May 18 636-0s +1-2 +0.20%

Spring Wheat Jul 18 640-6s +1-4 +0.23%

Spring Wheat Sep 18 636-2s -1-6 -0.27%

 

Kansas City

Hard Red Wheat Dec 17 415-6s -0-6 -0.18%

Hard Red Wheat Mar 18 433-4s -1-0 -0.23%

Hard Red Wheat May 18 447-4s -1-0 -0.22%

Hard Red Wheat Jul 18 465-0s -1-2 -0.27%

Hard Red Wheat Sep 18 482-6s -1-2 -0.26%

 

Chicago livestock futures in US¢/pound, Pit trade

Live Cattle (Pit) Dec 17 126.600s +0.975 +0.78%

Live Cattle (Pit) Feb 18 130.050s +0.500 +0.39%

Live Cattle (Pit) Apr 18 127.900s +0.325 +0.25%

 

Feeder Cattle (Pit) Nov 17 159.700s +0.275 +0.17%

Feeder Cattle (Pit) Jan 18 160.650s +1.075 +0.67%

Feeder Cattle (Pit) Mar 18 157.175s +1.100 +0.70%

 

Lean Hogs (Pit) Dec 17 66.600s -1.400 -2.06%

Lean Hogs (Pit) Feb 18 72.150s -0.850 -1.16%

Lean Hogs (Pit) Apr 18 75.575s +0.675 +0.90%

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