Canola weight by seasonal harvest; Soybeans hits monthly low;

The ICE Futures canola platform were weaker at market close.

Chicago Board of Trade (CBOT) soybean and meal contracts were stronger though after starting the day lower. The shift happened as soybeans looked to regain ground after hitting new monthly lows in overnight trade. Soyoil contracts were mixed.

South American seeding is weighing on the oilseed markets. Soybean seeding in Brazil is ahead of normal with good rains aiding in planting.

Seasonal harvest pressure weighed on the canola market today. Farmers have been able to make large deliveries into the commercial pipeline lately.

The Canadian dollar was weaker today at canola market close, which limited losses for canola.

About 18,100 canola contracts traded, which compares with Tuesday when 21,992 contracts changed hands. Spreading accounted for 10,084 of the contracts traded.

Most crushers and elevators rolled their spot soybean bids out of the November contract and into the January contract yesterday.

Farmers in Parana region of Brazil are 65 per cent finished with soybean seeding as of Oct. 29, which is ahead of average but behind last year’s pace of 72 per cent.

CBOT corn prices finished the day weaker again.

Ethanol production rose last week by 35,000 barrels per day to 1.059 million barrels per day, according to the United States Department of Agriculture. However, stocks fell to 22.7 million barrels.

POET ethanol has received final permit approval to start building a new 80 million gallon per year ethanol plant in Shelbyville, Ind. It is expected be done by spring of 2020.

The corn harvest in Ukraine is 68 percent complete, which is ahead of last year’s pace. Corn exports for the 2018/19 crop year are up by 50 per cent from last year to 2.5 million tonnes.

Wheat futures in the U.S. finished the day lower.

Winter wheat seeding in Ukraine is almost complete according to its Agriculture Ministry. There is a slight increase in area this year to about six million hectares.

 

OUTSIDE MARKETS

Light crude oil nearby futures in New York was down 87 cents at US$65.31 per barrel.

In the afternoon, the Canadian dollar was trading around US76.09 cents, down from 76.14 cents the previous trading day. The U.S. dollar was C$1.3142.

 

Winnipeg ICE Futures Canada dollars per tonne.

Canola Nov 18 475.00s -6.20 -1.29%

Canola Jan 19 486.00s -2.60 -0.53%

Canola Mar 19 492.90s -2.80 -0.56%

Canola May 19 499.40s -2.40 -0.48%

Canola Jul 19 503.20s -2.60 -0.51%

 

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 18 839-0s +5-4 +0.66%

Soybeans Jan 19 851-6s +4-6 +0.56%

Soybeans Mar 19 865-0s +4-4 +0.52%

Soybeans May 19 878-6s +4-4 +0.51%

Soybeans Jul 19 891-2s +4-6 +0.54%

 

Soybean Meal Dec 18 306.4s +1.3 +0.43%

Soybean Meal Jan 19 308.2s +1.1 +0.36%

Soybean Meal Mar 19 309.6s +1.7 +0.55%

 

Soybean Oil Dec 18 28.02s +0.02 +0.07%

Soybean Oil Jan 19 28.24s +0.02 +0.07%

Soybean Oil Mar 19 28.49s +0.01 +0.04%

 

Corn Dec 18 363-2s -1-4 -0.41%

Corn Mar 19 375-6s -1-4 -0.40%

Corn May 19 383-6s -1-4 -0.39%

Corn Jul 19 389-6s -1-2 -0.32%

Corn Sep 19 391-4s -1-6 -0.45%

 

Oats Dec 18 276-4s -3-2 -1.16%

Oats Mar 19 272-6s -3-4 -1.27%

Oats May 19 274-0s -4-0 -1.44%

Oats Jul 19 275-4s -4-2 -1.52%

Oats Sep 19 274-6s -2-2 -0.81%

 

Wheat Dec 18 500-4s +0-6 +0.15%

Wheat Mar 19 516-0s -1-4 -0.29%

Wheat May 19 527-4s -2-4 -0.47%

Wheat Jul 19 534-0s -2-4 -0.47%

Wheat Sep 19 545-6s -3-0 -0.55%

 

Minneapolis

Spring Wheat Dec 18 569-2s -2-2 -0.39%

Spring Wheat Mar 19 579-4s -2-2 -0.39%

Spring Wheat May 19 588-0s -2-4 -0.42%

Spring Wheat Jul 19 596-4s -2-0 -0.33%

Spring Wheat Sep 19 604-0s -2-0 -0.33%

 

Kansas City

Hard Red Wheat Dec 18 493-2s -1-4 -0.30%

Hard Red Wheat Mar 19 518-0s -2-4 -0.48%

Hard Red Wheat May 19 531-6s -2-6 -0.51%

Hard Red Wheat Jul 19 539-4s -3-4 -0.64%

Hard Red Wheat Sep 19 555-0s -3-2 -0.58%

 

Chicago livestock futures in US¢/pound, Pit trade

Live Cattle Oct 18 115.850s +1.950 +1.71%

Live Cattle Dec 18 116.950s +0.150 +0.13%

Live Cattle Feb 19 122.200s -0.100 -0.08%

 

Feeder Cattle Nov 18 153.475s +1.300 +0.85%

Feeder Cattle Jan 19 150.125s +2.025 +1.37%

Feeder Cattle Mar 19 148.225s +1.650 +1.13%

 

Lean Hogs Dec 18 58.450s -0.550 -0.93%

Lean Hogs Feb 19 65.325s -1.625 -2.43%

Lean Hogs Apr 19 70.325s -1.425 -1.99%

 

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