ICE Canada canola falls on hedge selling, down for week

WINNIPEG, Manitoba, Sept 30 (Reuters) – ICE Canada canola futures dropped on Friday for the fifth time in six sessions, on a boost in commercial hedge selling, notching a 1 percent weekly loss.

* Hedges picked up as farmers’ harvesting advanced, a trader said. In Alberta, 40 percent of canola is harvested.

* Market was underpinned by buying related to gains in Chicago soybeans.

* November canola dropped $1.50 at $463.60 per tonne. Earlier, the contract touched a 10-day low.

* For the month, most-active canola gained 1 percent.

* January canola lost $2 at $470.70.

Read Also

U.S. livestock: Cattle fall sharply as Trump says he’s working to lower beef costs

Chicago cattle futures fell sharply on Friday after U.S. President Donald Trump said his administration was working to lower the…

* November-January canola spread traded 2,829 times.

* Chicago November soybeans rose on a government report of smaller than expected U.S. stocks.

* The U.S. Agriculture Department reported corn and soybean stocks as of Sept. 1 at multi-year highs despite record usage of both commodities during the June, July and August time period.

* NYSE Liffe November rapeseed eased and Malaysian November crude palm oil rose.

* The Canadian dollar was trading at $1.3122 to the U.S. dollar, or 76.21 U.S. cents at 12:46 p.m. CDT (1746 GMT), higher than Thursday’s close of $1.3149, or 76.05 U.S. cents.

* Canada weekly canola crushings fell 8.1 percent.

Light crude oil nearby futures in New York were up 41 cents to US$48.24 per barrel.

The Canadian dollar at noon was US76.24 cents, down from 76.33 cents the previous trading day. The U.S. dollar at noon was C$1.3117.

Winnipeg ICE Futures Canada dollars per tonne
Canola Nov 2016   463.60   -1.50   -0.32%
Canola Jan 2017   470.70   -2.00   -0.42%
Canola Mar 2017   475.90   -1.80   -0.38%
Canola May 2017   481.00   -1.30   -0.27%
Canola Jul 2017   484.30   -0.80   -0.16%

Milling Wheat Oct 2016   224.00   +4.00   +1.82%
Milling Wheat Dec 2016   227.00   +4.00   +1.79%
Milling Wheat Mar 2017   232.00   +4.00   +1.75%

Durum Wheat Oct 2016   283.00   +2.00   +0.71%
Durum Wheat Dec 2016   282.00   +2.00   +0.71%
Durum Wheat Mar 2017   289.00   +3.00   +1.05%

Barley Oct 2016   132.50   unch   0.00%
Barley Dec 2016   132.50   unch   0.00%
Barley Mar 2017   134.50   unch   0.00%

American crop prices in cents US/bushel, soybean meal in $US/short ton, soy oil in cents US/pound

Chicago
Soybeans Nov 2016   954.00   +3.75   +0.39%
Soybeans Jan 2017   959.25   +3.00   +0.31%
Soybeans Mar 2017   965.50   +2.50   +0.26%
Soybeans May 2017   971.75   +2.25   +0.23%
Soybeans Jul 2017   977.25   +2.50   +0.26%
Soybeans Aug 2017   976.00   +2.25   +0.23%

Soybean Meal Oct 2016   297.90   unch   0.00%
Soybean Meal Dec 2016   299.60   +0.90   +0.30%
Soybean Meal Jan 2017   300.20   +0.40   +0.13%

Soybean Oil Oct 2016   33.24   +0.15   +0.45%
Soybean Oil Dec 2016   33.44   +0.10   +0.30%
Soybean Oil Jan 2017   33.67   +0.09   +0.27%

Corn Dec 2016   336.75   +7.50   +2.28%
Corn Mar 2017   346.50   +7.50   +2.21%
Corn May 2017   353.50   +7.50   +2.17%

Corn Jul 2017   360.25   +7.25   +2.05%
Corn Sep 2017   367.00   +7.00   +1.94%

Oats Dec 2016   178.25   +2.25   +1.28%
Oats Mar 2017   187.00   +1.75   +0.94%
Oats May 2017   191.25   +1.00   +0.53%
Oats Jul 2017   198.50   -1.00   -0.50%
Oats Sep 2017   199.50   -1.00   -0.50%

Wheat Dec 2016   402.00   +3.00   +0.75%
Wheat Mar 2017   424.75   +3.00   +0.71%
Wheat May 2017   438.00   +2.50   +0.57%
Wheat Jul 2017   447.50   +1.25   +0.28%
Wheat Sep 2017   461.75   +1.75   +0.38%

Minneapolis
Spring Wheat Dec 2016   514.50   +4.75   +0.93%
Spring Wheat Mar 2017   521.00   +3.75   +0.72%
Spring Wheat May 2017   527.75   +3.00   +0.57%
Spring Wheat Jul 2017   535.50   +2.50   +0.47%
Spring Wheat Sep 2017   543.25   +1.25   +0.23%

Kansas City
Hard Red Wheat Dec 2016   415.50   -1.75   -0.42%
Hard Red Wheat Mar 2017   432.00   -1.75   -0.40%
Hard Red Wheat May 2017   442.50   -1.50   -0.34%
Hard Red Wheat Jul 2017   452.50   -1.50   -0.33%
Hard Red Wheat Sep 2017   467.00   -1.00   -0.21%

Chicago livestock futures in US¢/pound (rounded to two decimal places)
Live Cattle (P) Oct 2016   98.90   -3.00   -2.94%
Live Cattle (P) Dec 2016   100.12   -3.01   -2.92%
Live Cattle (P) Feb 2017   100.60   -2.83   -2.74%

Feeder Cattle (P) Oct 2016   123.15   -4.35   -3.41%
Feeder Cattle (P) Nov 2016   119.65   -4.27   -3.45%
Feeder Cattle (P) Jan 2017   116.82   -3.81   -3.16%

Lean Hogs (P) Oct 2016   49.02   -3.01   -5.79%
Lean Hogs (P) Dec 2016   43.98   -3.00   -6.39%
Lean Hogs (P) Feb 2017   48.90   -2.70   -5.23%