Crop markets drift awaiting USDA report

It was another day of modest crop price movement.

Traders were awaiting the latest monthly USDA supply and demand report due tomorrow.

There is some expectation that the USDA might lift its yield forecasts.

Corn futures were the lowest in a month. They have seen steady gradual erosion of value, as the trade believes supply will be more than ample.

It was mild and dry across most of the Prairies today, hopefully allowing producers to make progress on getting their crops in the bin.

Producers in northern parts of Alberta and Saskatchewan still have a fair amount of crop out and are looking for dry weather. It appears that we are moving toward drier weather that should help

The lows in the next couple of nights in Saskatchewan and Alberta are expected to be cooler than they have been so those looking for a killing frost will have their wishes answered. There could be snow flurries tonight in some areas, but not much of an accumulation.

Temperatures climb again early next week.

The U.S. Midwest is looking for a string of dry days to advance harvest, but it looks like it is going to be a wet Saturday there.

OUTSIDE MARKETS

Light crude oil nearby futures in New York were up 38 cents at US$51.30 per barrel.

In the afternoon, the Canadian dollar was trading around US80.28 cents, up from 79.90 cents the previous trading day. The U.S. dollar was C$1.2456.

The Toronto Stock Exchange’s S&P/TSX composite index rose 30.04 points, or 0.19 percent, to close at 15,800.40.

The Dow Jones Industrial Average rose 42.21 points, or 0.18 percent, to end at 22,872.89, the S&P 500 gained 4.6 points, or 0.18 percent, to 2,555.24 and the Nasdaq Composite added 16.30 points, or 0.25 percent, to 6,603.55.

 

Winnipeg ICE Futures Canada dollars per tonne

Canola Nov 17   493.50s   -1.70   -0.34%

Canola Jan 18   499.50s   -0.60   -0.12%

Canola Mar 18   504.40s   -0.50   -0.10%

Canola May 18   506.90s   -0.50   -0.10%

Canola Jul 18   508.10s   -0.40   -0.08%

 

Milling Wheat Oct 17   231.00s   -1.00   -0.43%

Milling Wheat Dec 17   234.00s   unch   unch

Milling Wheat Mar 18   239.00s   -1.00   -0.42%

 

Durum Wheat Oct 17   280.00s   +3.00   +1.08%

Durum Wheat Dec 17   281.00s   unch   unch

Durum Wheat Mar 18   286.00s   unch   unch

 

Barley Oct 17   145.00s   unch   unch

Barley Dec 17   148.00s   unch unch

Barley Mar 18   151.00s   unch   unch

 

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   965-2s   -0-6   -0.08%

Soybeans Jan 18   976-0s   -0-2   -0.03%

Soybeans Mar 18   985-4s   -0-2   -0.03%

Soybeans May 18   995-0s   unch   unch

Soybeans Jul 18   1003-6s   +0-2   +0.02%

 

Soybean Meal Oct 17   311.2s   -1.3   -0.42%

Soybean Meal Dec 17   314.9s   -1.3   -0.41%

Soybean Meal Jan 18   317.0s   -1.3   -0.41%

 

Soybean Oil Oct 17   32.91s   +0.05   +0.15%

Soybean Oil Dec 17   33.15s   +0.04   +0.12%

Soybean Oil Jan 18   33.33s   +0.04   +0.12%

 

Corn Dec 17   346-0s   -3-2   -0.93%

Corn Mar 18   359-4s   -3-2   -0.90%

Corn May 18   368-0s   -3-4   -0.94%

Corn Jul 18   375-6s   -3-4   -0.92%

Corn Sep 18   383-0s   -3-0   -0.78%

 

Oats Dec 17   252-6s   +3-2   +1.30%

Oats Mar 18 255-2s   +3-6   +1.49%

Oats May 18   254-4s   +4-2   +1.70%

Oats Jul 18   252-6s   +5-0   +2.02%

Oats Sep 18   252-6s   +5-0   +2.02%

 

Wheat Dec 17   433-2s   -2-0   -0.46%

Wheat Mar 18   452-2s   -3-0   -0.66%

Wheat May 18   464-6s   -4-0   -0.85%

Wheat Jul 18   478-4s   -4-2   -0.88%

Wheat Sep 18   494-2s   -4-2   -0.85%

 

Minneapolis

Spring Wheat Dec 17   619-0s   +1-4   +0.24%

Spring Wheat Mar 18   632-6s   +1-2   +0.20%

Spring Wheat May 18   639-2s   +0-6   +0.12%

Spring Wheat Jul 18   642-4s   unch   unch

Spring Wheat Sep 18   637-2s   -1-0   -0.16%

 

Kansas City

Hard Red Wheat Dec 17   428-2s   -3-0   -0.70%

Hard Red Wheat Mar 18   446-4s   -2-6   -0.61%

Hard Red Wheat May 18   460-6s   -2-6   -0.59%

Hard Red Wheat Jul 18   479-0s   -2-6   -0.57%

Hard Red Wheat Sep 18   497-6s   -3-0   -0.60%

 

Chicago livestock futures in US¢/pound, Pit trade

Live Cattle Oct 17   113.775s   +0.075   +0.07%

Live Cattle Dec 17   118.525s   -0.275   -0.23%

Live Cattle Feb 18   122.175s   -0.200   -0.16%

 

Feeder Cattle Oct 17   154.150s   +0.075   +0.05%

Feeder Cattle Nov 17   155.675s   -0.475   -0.30%

Feeder Cattle Jan 18   154.250s   -0.200   -0.13%

 

Lean Hogs Oct 17   61.250s   +1.075   +1.79%

Lean Hogs Dec 17   62.500s   +0.950   +1.54%

Lean Hogs Feb 18   67.775s   +0.375   +0.56%

 

 

 

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