Chinese-American trade presses commodities down

Traders kept markets tight for a third day as Sino-American trade issues took their attention, sending soybeans lower, taking canola with them.

Corn and wheat followed on Chicago. Drought conditions in Kansas and southern Iowa didn’t sway the markets away from a feeling that a very big crop is on its way to bins in the United States Midwest.

Soybeans fell for September by 16.25 US cents, ending at US$8.42 per bushel. November put up the numbers. This sent canola plummeting down another C$5 per tonne, passing through the $500 mark, to end the day at $496.60. Similar drops plagued all canola futures though next July. Soybean oil fell again on Chicago for Thursday, offering no support to canola. The Canadian dollar was the only think lifting up on the Canadian oilseed. It finished at 76.42 US cents. Crude prices were flat for the day.

Chicago oat futures were the only crop market up on the day, putting September contracts at US$2.65-25 per bushel and $2.67 for December.

Global wheat production estimates were cut by the International Grains Council as it revised its earlier numbers downward. The IGC reduced them by 184 million bushels, from 26.3 billion. Germany, along with much of northern Europe, and Australian wheat production has proven to be lower than previously thought.

Name / Contract High Low Last Change Settlement
Canola Nov 2018 (updated 1:50PM(CST) on 8/23/2018) 502.40 496.00 496.60 -5.00 496.60
Canola Jan 2019 (updated 1:49PM(CST) on 8/23/2018) 508.80 502.70 503.20 -4.70 503.20
Canola Mar 2019 (updated 1:51PM(CST) on 8/23/2018) 510.70 507.00 507.40 -5.00 507.40
Canola May 2019 (updated 1:49PM(CST) on 8/23/2018) 514.30 510.20 510.70 -4.80 510.70
Canola Jul 2019 (updated 1:51PM(CST) on 8/23/2018) 515.80 510.90 511.70 -4.40 511.70
Soybeans Sep 2018 861.75 842.00 842.25 -16.00 842.00
Soybeans Nov 2018 873.75 853.75 854.50 -15.75 854.00
Soybeans Jan 2019 886.50 866.75 867.75 -15.50 867.00
Soybeans Mar 2019 898.25 879.50 880.75 -14.75 880.00
Soybeans May 2019 909.25 890.75 891.25 -15.25 891.25
Soybeans Jul 2019 917.00 899.75 900.75 -14.75 900.50
Soybean Meal Sep 2018 322.20 313.50 314.20 -6.90 313.70
Soybean Meal Oct 2018 322.80 315.00 315.60 -6.40 315.20
Soybean Meal Dec 2018 324.50 316.20 317.00 -6.20 316.50
Soybean Oil Sep 2018 28.25 27.96 28.08 -0.14 28.03
Soybean Oil Oct 2018 28.37 28.10 28.22 -0.13 28.17
Soybean Oil Dec 2018 28.59 28.30 28.41 -0.15 28.37
Corn Sep 2018 355.00 346.25 346.50 -6.00 346.75
Corn Dec 2018 369.50 360.50 361.00 -5.75 361.00
Corn Mar 2019 381.25 373.00 373.25 -5.75 373.25
Corn May 2019 388.25 380.25 380.25 -6.00 380.75
Corn Jul 2019 394.00 386.00 386.25 -5.50 386.50
Oats Sep 2018 265.75 260.25 263.25 3.50 263.25
Oats Dec 2018 270.00 263.50 267.50 3.00 266.50
Oats Mar 2019 274.00 270.00 270.75 1.50 270.75
Oats May 2019 273.75 273.75 273.75 1.50 273.75
Oats Jul 2019 275.75 275.75 275.75 1.25 275.75
Wheat Sep 2018 535.50 515.50 523.25 -2.75 522.00
Wheat Dec 2018 554.50 535.50 543.00 -2.25 541.75
Wheat Mar 2019 575.25 558.75 565.75 -2.75 564.50
Wheat May 2019 586.50 570.50 577.25 -2.50 576.25
Wheat Jul 2019 580.00 564.50 571.50 -1.75 570.75
Spring Wheat Sep 2018 590.00 579.50 581.75 -4.50 581.75
Spring Wheat Dec 2018 607.75 597.00 599.25 -4.25 599.25
Spring Wheat Mar 2019 622.25 612.00 614.75 -3.75 614.75
Spring Wheat May 2019 629.50 620.00 623.00 -3.25 623.00
Spring Wheat Jul 2019 630.75 625.00 626.75 -3.00 626.75
Hard Red Wheat Sep 2018 538.50 518.25 529.50 -0.50 527.25
Hard Red Wheat Dec 2018 569.00 545.75 556.50 -0.75 554.50
Hard Red Wheat Mar 2019 590.25 570.75 580.75 -1.25 578.75
Hard Red Wheat May 2019 601.50 583.00 592.50 -1.75 591.25
Hard Red Wheat Jul 2019 600.25 579.75 589.00 -2.00 588.25
Live Cattle (P) Aug 2018 108.20 107.48 108.20 -0.02 107.95
Live Cattle (P) Oct 2018 109.15 108.30 109.02 0.12 108.72
Live Cattle (P) Dec 2018 113.22 112.40 113.15 -0.07 112.98
Feeder Cattle (P) Aug 2018 149.18 148.72 148.95 0.25 149.02
Feeder Cattle (P) Sep 2018 149.38 148.25 149.28 0.13 149.15
Feeder Cattle (P) Oct 2018 149.08 147.65 149.00 0.38 148.80
Lean Hogs (P) Oct 2018 53.47 51.00 51.18 -2.42 51.18
Lean Hogs (P) Dec 2018 52.75 50.55 50.80 -0.88 50.88
Lean Hogs (P) Feb 2019 61.70 59.68 59.92 0.02 59.98
Canadian Dollar Sep 2018 0.7700 0.7637 0.7645 -0.0047 0.7642
Crude Oct 2018 68.12 67.32 67.85 -0.01 67.83

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