November Canola futures spent much of the morning above $500 a tonne Monday, but weaked late and closed again below $500.
Most crops were a few cents per bushel in the red Monday, on a day with little conviction.
“Canola was lagging, but it was firm, then everything flipped and it was stronger for a while and finished pretty much in line with U.S. markets,” said Ken Ball, a broker with P.I. Financial in Winnipeg.
Markets are in a transition phase right now, with Canadian crop mostly harvested and U.S. Midwest crops being combines.
Read Also
Entomologist tests trap crops and marigolds to repel flea beetles at an Ag in Motion
An Agriculture Canada entomologist is experimenting with trap crops and marigolds at an Ag in Motion demonstration cropplot
Not much can happen to North American crops now to significantly change the supply picture, so rain and planting conditions in South America are now beginning to take centre stage.
“The U.S. markets have shifted gears pretty much completely after the USDA reports,” said Ball, refering to last Thursday’s US monthly report.
Much canola is still out in the field in Alberta, and perhaps 15 percent of the Canadian crop still needs to be harvested.
Light crude oil nearby futures in New York were up 42 cents at US$51.87 per barrel.
In the afternoon, the Canadian dollar was trading around US79.86 cents, down from 80.12 cents the previous trading day. The U.S. dollar was C$1.2522.
The Toronto Stock Exchange composite slipped 4.47 points or 0.03 percent to close at 15,802.70.
The Dow Jones Industrial Average rose 85.24 points, or 0.37 percent, to close at 22,956.96, the S&P 500 gained 4.47 points, or 0.18 percent, to 2,557.64 and the Nasdaq Composite added 18.20 points, or 0.28 percent, to 6,624.01.
Winnipeg ICE Futures Canada dollars per tonne
Canola Nov 17 498.40s -0.60 -0.12%
Canola Jan 18 505.40s -0.50 -0.10%
Canola Mar 18 510.10s -0.80 -0.16%
Canola May 18 512.30s -1.40 -0.27%
Canola Jul 18 513.10s -1.80 -0.35%
Milling Wheat Dec 17 230.00s -1.00 -0.43%
Milling Wheat Mar 18 235.00s -2.00 -0.84%
Milling Wheat May 18 241.00s -1.00 -0.41%
Durum Wheat Dec 17 281.00s unch unch
Durum Wheat Mar 18 286.00s unch unch
Durum Wheat May 18 288.00s unch unch
Barley Dec 17 148.00s unch unch
Barley Mar 18 151.00s unch unch
Barley May 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 17 991-0s -9-2 -0.92%
Soybeans Jan 18 1001-4s -8-6 -0.87%
Soybeans Mar 18 1010-6s -8-4 -0.83%
Soybeans May 18 1019-6s -8-2 -0.80%
Soybeans Jul 18 1027-4s -8-2 -0.80%
Soybean Meal Dec 17 324.5s -4.1 -1.25%
Soybean Meal Jan 18 326.7s -4.0 -1.21%
Soybean Meal Mar 18 329.7s -3.7 -1.11%
Soybean Oil Dec 17 33.59s -0.10 -0.30%
Soybean Oil Jan 18 33.75s -0.10 -0.30%
Soybean Oil Mar 18 33.99s -0.10 -0.29%
Corn Dec 17 350-4s -2-2 -0.64%
Corn Mar 18 364-2s -2-2 -0.61%
Corn May 18 372-6s -2-4 -0.67%
Corn Jul 18 379-6s -2-6 -0.72%
Corn Sep 18 386-6s -2-4 -0.64%
Oats Dec 17 259-4s -7-2 -2.72%
Oats May 18 267-0s -2-0 -0.74%
Oats Jul 18 263-4s -2-2 -0.85%
Oats Sep 18 263-4s -2-2 -0.85%
Wheat Dec 17 436-4s -3-0 -0.68%
Wheat Mar 18 455-0s -3-0 -0.66%
Wheat May 18 468-2s -2-2 -0.48%
Wheat Jul 18 481-4s -2-6 -0.57%
Wheat Sep 18 497-2s -3-0 -0.60%
Minneapolis
Spring Wheat Dec 17 609-4s -5-4 -0.89%
Spring Wheat Mar 18 623-4s -5-4 -0.87%
Spring Wheat May 18 631-0s -4-4 -0.71%
Spring Wheat Jul 18 634-6s -5-2 -0.82%
Spring Wheat Sep 18 629-2s -4-0 -0.63%
Kansas City
Hard Red Wheat Dec 17 433-6s -2-4 -0.57%
Hard Red Wheat May 18 465-6s -2-4 -0.53%
Hard Red Wheat Jul 18 483-6s -2-2 -0.46%
Hard Red Wheat Sep 18 502-2s -2-4 -0.50%
Chicago livestock futures in US¢/pound, Pit trade
Live Cattle Oct 17 111.725s -1.100 -0.97%
Live Cattle Dec 17 116.825s -0.300 -0.26%
Live Cattle Feb 18 120.925s -0.150 -0.12%
Feeder Cattle Oct 17 154.000s -0.050 -0.03%
Feeder Cattle Nov 17 154.550s -0.450 -0.29%
Feeder Cattle Jan 18 152.550s -0.500 -0.33%
Lean Hogs Dec 17 63.700s +1.500 +2.41%
Lean Hogs Feb 18 68.300s +0.850 +1.26%
Lean Hogs Apr 18 72.025s +0.075 +0.10%
