ICE Canada canola falls on weak soy prices, technical selling

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Published: August 29, 2016

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WINNIPEG, Manitoba, Aug 29 (Reuters) – ICE Canada canola futures slipped on Monday to the cheapest most-active contract price in two weeks, pressured by weaker U.S. soy prices and technical selling.

* The most-active November contract is technically weak, trading below the 50-day moving average, a trader said.

* Traders are awaiting results of the Canadian prime minister’s visit to China this week, where he has said he will raise the two countries’ canola dispute.

* November canola lost $3.50 at $456.20 per tonne.

* January canola gave up $3.60 at $463.40.

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Chicago Board of Trade soybean futures touched a two-week high on Friday on worries that heat may threaten U.S. crops and expectations that the country’s biofuel policy would boost demand for soyoil, analysts said.

* November-January canola spread traded 2,361 times.

* Chicago November soybeans fell on strong U.S. crop prospects and long liquidation.

* NYSE Liffe November rapeseed and October Malaysian palm oil dipped.

* The Canadian dollar was trading at $1.3005 to the U.S. dollar, or 76.89 U.S. cents at 1 p.m. CDT (1800 GMT), slightly lower than Friday’s close of $1.3000, or 76.92 U.S. cents.

Light crude oil nearby futures in New York were down 66 cents to US$46.98 per barrel.
The Canadian dollar at noon was US76.81 cents, down from 77.24 cents the previous trading day. The U.S. dollar at noon was C$1.3019.

Winnipeg ICE Futures Canada dollars per tonne
Canola Nov 2016   456.20   -3.50   -0.76%
Canola Jan 2017   463.40   -3.60   -0.77%
Canola Mar 2017   470.20   -3.50   -0.74%
Canola May 2017   476.30   -2.70   -0.56%
Canola Jul 2017   480.90   -2.50   -0.52%

Milling Wheat Oct 2016   204.00   -3.00   -1.45%
Milling Wheat Dec 2016   207.00   -3.00   -1.43%
Milling Wheat Mar 2017   211.00   -4.00   -1.86%

Durum Wheat Oct 2016   260.00   -1.00   -0.38%
Durum Wheat Dec 2016   263.00   -1.00   -0.38%
Durum Wheat Mar 2017   268.00   -1.00   -0.37%

Barley Oct 2016   138.00   unch   0.00%
Barley Dec 2016   138.00   unch   0.00%
Barley Mar 2017   140.00   unch   0.00%

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

Chicago
Soybeans Sep 2016   983.25   -6.50   -0.66%
Soybeans Nov 2016   964.25   -2.75   -0.28%
Soybeans Jan 2017   966.75   -2.75   -0.28%
Soybeans Mar 2017   968.25   -2.00   -0.21%
Soybeans May 2017   970.75   -0.50   -0.05%
Soybeans Jul 2017   973.25   -0.25   -0.03%

Soybean Meal Sep 2016   319.50   -1.20   -0.37%
Soybean Meal Oct 2016   317.00   -1.00   -0.31%
Soybean Meal Dec 2016   315.10   -0.20   -0.06%

Soybean Oil Sep 2016   32.81   -0.13   -0.39%
Soybean Oil Oct 2016   32.94   -0.11   -0.33%
Soybean Oil Dec 2016   33.22   -0.12   -0.36%

Corn Sep 2016   311.75   -5.00   -1.58%

Corn Dec 2016   320.75   -4.50   -1.38%
Corn Mar 2017   331.00   -4.00   -1.19%
Corn May 2017   338.25   -4.00   -1.17%
Corn Jul 2017   345.50   -4.00   -1.14%

Oats Sep 2016   162.00   -7.00   -4.14%
Oats Dec 2016   179.00   -4.00   -2.19%
Oats Mar 2017   193.00   -5.50   -2.77%
Oats May 2017   196.75   -4.75   -2.36%
Oats Jul 2017   203.25   -31.75   -13.51%

Wheat Sep 2016   370.50   -11.75   -3.07%
Wheat Dec 2016   397.00   -9.25   -2.28%
Wheat Mar 2017   421.00   -10.00   -2.32%
Wheat May 2017   435.75   -9.75   -2.19%
Wheat Jul 2017   444.75   -10.25   -2.25%

Minneapolis
Spring Wheat Sep 2016   488.25   -5.75   -1.16%
Spring Wheat Dec 2016   484.25   -8.75   -1.77%
Spring Wheat Mar 2017   496.25   -9.75   -1.93%
Spring Wheat May 2017   506.50   -9.00   -1.75%
Spring Wheat Jul 2017   516.25   -7.75   -1.48%

Kansas City
Hard Red Wheat Sep 2016   374.25   -15.00   -3.85%
Hard Red Wheat Dec 2016   402.25   -14.00   -3.36%
Hard Red Wheat Mar 2017   418.75   -13.75   -3.18%
Hard Red Wheat May 2017   429.50   -13.50   -3.05%

Hard Red Wheat Jul 2017   439.75   -13.50   -2.98%

Chicago livestock futures in US¢/pound (rounded to two decimal places)
Live Cattle (P) Aug 2016   110.75   +0.73   +0.66%
Live Cattle (P) Oct 2016   105.08   -1.12   -1.05%
Live Cattle (P) Dec 2016   107.02   -1.08   -1.00%

Feeder Cattle (P) Sep 2016   139.15   -0.95   -0.68%
Feeder Cattle (P) Oct 2016   135.38   -0.72   -0.53%
Feeder Cattle (P) Nov 2016   132.22   -0.73   -0.55%

Lean Hogs (P) Oct 2016   61.38   +0.06   +0.10%
Lean Hogs (P) Dec 2016   56.32   -0.28   -0.49%
Lean Hogs (P) Feb 2017   60.60   -0.30   -0.49%

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