Canola, wheat gain on dry conditions

Dry conditions and higher temperatures across most of North America have put traders in a buying mood, lifting soybeans and canola for the second day in a row. Global drought issues have provided support for wheat as well.

Friday’s August World Agricultural Supply and Demand Estimates report from the USDA is keeping a cap on too much optimism however, as this mild  weather market continues to form. German farmer coop DRV reported that that country expects to see a 50 percent reduction in corn yields and the drought will also spell trouble for rapeseed production, which could help support canola in the bigger picture.

November Canola settled in at $510,70, up $8.10 per tonne. January rose to $516.20, up $7.40 and March was up $6.50 to $521.20.

August and September soybean futures added 4.5 US cents at the close on Chicago reaching US$ 8.93-75 and $ 8.99-75, respectively.

September Chicago soft red winter wheat prices gained 1.75 cents to reach $5.70, September Kansas City hard red winter prices added 4.75 cents to $5.84-25, and September Minneapolis spring wheat climbed another 5 cents to $6.31-75.

 

Name / Contract High Low Last Change Settlement
Canola Nov 2018 (updated 1:53PM(CST) on 8/8/2018) 512.90 501.00 510.70 8.10 510.70
Canola Jan 2019 (updated 1:54PM(CST) on 8/8/2018) 518.40 507.40 516.20 7.40 516.20
Canola Mar 2019 (updated 1:54PM(CST) on 8/8/2018) 523.30 512.80 521.10 6.50 521.10
Canola May 2019 (updated 1:54PM(CST) on 8/8/2018) 526.50 516.70 524.80 6.30 524.80
Canola Jul 2019 (updated 1:53PM(CST) on 8/8/2018) 527.00 518.20 525.60 5.60 525.60
Soybeans Aug 2018 895.75 889.75 893.75 4.50 893.75
Soybeans Sep 2018 903.00 888.00 899.50 4.25 899.75
Soybeans Nov 2018 914.00 898.50 911.00 5.25 910.50
Soybeans Jan 2019 925.25 910.25 922.25 5.25 921.75
Soybeans Mar 2019 934.25 919.75 931.25 5.00 931.25
Soybeans May 2019 944.00 929.75 941.50 5.25 941.25
Soybean Meal Aug 2018 338.00 331.50 337.10 4.40 337.10
Soybean Meal Sep 2018 335.90 329.40 335.10 4.10 335.50
Soybean Meal Oct 2018 336.30 329.40 335.70 4.50 336.00
Soybean Oil Aug 2018 28.72 28.39 28.45 -0.14 28.45
Soybean Oil Sep 2018 28.88 28.54 28.59 -0.16 28.59
Soybean Oil Oct 2018 28.98 28.66 28.72 -0.15 28.70
Corn Sep 2018 373.75 370.00 371.00 0.25 371.25
Corn Dec 2018 387.50 383.75 385.00 0.50 385.00
Corn Mar 2019 398.50 395.00 395.50 unch 396.00
Corn May 2019 404.75 401.25 402.25 0.25 402.50
Corn Jul 2019 410.50 407.00 407.75 unch 408.00
Oats Sep 2018 264.50 255.75 264.50 9.25 263.75
Oats Dec 2018 273.75 264.50 273.00 9.25 273.00
Oats Mar 2019 278.75 271.00 277.75 9.50 277.75
Oats May 2019 280.00 280.00 280.00 9.25 280.00
Oats Jul 2019 283.00 283.00 283.00 9.00 283.00
Wheat Sep 2018 578.00 564.50 570.75 2.50 570.00
Wheat Dec 2018 599.00 586.25 592.00 2.00 591.25
Wheat Mar 2019 618.25 606.00 612.00 2.75 611.50
Wheat May 2019 625.25 613.50 620.25 5.25 619.75
Wheat Jul 2019 613.75 601.50 609.75 4.50 609.25
Spring Wheat Sep 2018 634.50 625.25 632.75 5.00 632.75
Spring Wheat Dec 2018 651.00 642.50 648.75 4.00 648.75
Spring Wheat Mar 2019 662.50 655.75 659.25 2.25 659.25
Spring Wheat May 2019 665.00 660.00 663.00 2.00 663.00
Spring Wheat Jul 2019 667.00 661.50 664.25 0.75 664.25
Hard Red Wheat Sep 2018 590.50 578.00 584.25 4.75 584.25
Hard Red Wheat Dec 2018 617.75 605.00 611.00 3.75 610.75
Hard Red Wheat Mar 2019 635.50 624.00 630.50 5.00 629.75
Hard Red Wheat May 2019 643.75 632.75 640.50 6.75 639.75
Hard Red Wheat Jul 2019 634.00 623.00 630.50 4.25 630.25
Live Cattle (P) Aug 2018 110.05 109.40 109.80 -0.28 109.82
Live Cattle (P) Oct 2018 111.10 110.05 111.07 0.14 111.00
Live Cattle (P) Dec 2018 114.70 113.60 114.70 0.33 114.53
Feeder Cattle (P) Aug 2018 151.00 148.90 150.85 1.00 150.65
Feeder Cattle (P) Sep 2018 150.25 147.20 150.15 1.43 149.75
Feeder Cattle (P) Oct 2018 150.45 147.97 150.32 0.82 149.98
Lean Hogs (P) Aug 2018 55.42 54.40 54.98 -0.82 54.80
Lean Hogs (P) Oct 2018 49.65 48.05 48.55 -1.43 48.40
Lean Hogs (P) Dec 2018 45.25 43.92 44.38 -1.25 44.38
Canadian Dollar Aug 2018 0.7684 0.7639 0.7686 0.0032 0.7686
Crude Sep 2018 69.37 66.32 66.88 -2.29 66.94

 

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