(Reuters) – ICE canola futures eased on Thursday on hedge selling and spillover pressure from declining soybean futures, but losses were limited by worries over a severe heat wave in European rapeseed producing areas, traders said.
Cooler temperatures and scattered rains in some Canadian canola-production areas bolstered yield prospects and also weighed on futures. Most-active November canola ended $1.30 lower at $448.90 per tonne but remained within the prior session’s high and low during the session.
November futures held chart support at its 20-day moving average.
Farmers seized upon higher prices early in the day to sell some of their stored canola. Subsequent selling by hedgers in the futures market reversed those gains, traders said.
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U.S. soybean futures fell on Thursday on disappointing weekly export sales data.
Chicago Board of Trade August soybeans settled down 8-1/2 cents to US$8.82-1/2 a bushel.
Paris Matif November rapeseed futures fell 1 percent and Malaysian October palm oil futures gained 1.4% and reached a five-week high.
A weakening Canadian dollar also helped to limit losses in canola. The currency fell to a one-month low against the U.S. dollar on Thursday.
OUTSIDE MARKETS
Light crude oil nearby futures in New York was up .01 cents at US$55.91 per barrel.
In the afternoon, the Canadian dollar was trading down .14 cents at around US75.98 76.12 cents. The U.S. dollar was C$1.3161.
Winnipeg ICE Futures Canada dollars per tonne
Name / Contract Last Change % Change
Canola Nov 19 448.90s -1.30 -0.29%
Canola Jan 20 456.20s -1.30 -0.28%
Canola Mar 20 463.40s -1.20 -0.26%
Canola May 20 468.90s -1.20 -0.26%
Canola Jul 20 473.70s -1.00 -0.21%
Soybean Aug 19 882-4s -8-4 -0.95%
Soybean Sep 19 887-6s -8-4 -0.95%
Soybean Nov 19 899-6s -8-4 -0.94%
Soybean Jan 20 913-2s -8-0 -0.87%
Soybean Mar 20 924-4s -6-4 -0.70%
Soybean Meal Aug 19 303.9s -2.4 -0.78%
Soybean Meal Sep 19 305.5s -2.5 -0.81%
Soybean Meal Oct 19 307.0s -2.7 -0.87%
Soybean Oil Aug 19 28.27s -0.03 -0.11%
Soybean Oil Sep 19 28.41s -0.02 -0.07%
Soybean Oil Oct 19 28.54s -0.01 -0.04%
Corn Sep 19 418-4s -5-4 -1.30%
Corn Dec 19 427-4s -3-2 -0.75%
Corn Mar 20 437-2s -2-4 -0.57%
Corn May 20 441-4s -2-0 -0.45%
Corn Jul 20 444-6s -1-6 -0.39%
Oats Sep 19 263-4s -1-2 -0.47%
Oats Dec 19 267-4s +1-6 +0.66%
Oats Mar 20 272-0s +2-2 +0.83%
Oats May 20 271-0s +2-2 +0.84%
Oats Jul 20 270-2s +2-2 +0.84%
Wheat Sep 19 499-4s +1-6 +0.35%
Wheat Dec 19 507-2s +0-4 +0.10%
Wheat Mar 20 518-2s -0-2 -0.05%
Wheat May 20 523-6s -1-0 -0.19%
Wheat Jul 20 525-0s -1-4 -0.28%
Minneapolis
Spring Wheat Sep 19 523-0s +0-6 +0.14%
Spring Wheat Dec 19 536-4s +0-4 +0.09%
Spring Wheat Mar 20 550-4s +0-2 +0.05%
Spring Wheat May 20 559-4s +0-2 +0.04%
Spring Wheat Jul 20 568-0s +0-2 +0.04%
Kansas City
Hard Red Wheat Sep 19 437-4s -2-0 -0.46%
Hard Red Wheat Dec 19 455-0s -0-6 -0.16%
Hard Red Wheat Mar 20 472-0s -1-0 -0.21%
Hard Red Wheat May 20 483-2s -1-0 -0.21%
Hard Red Wheat Jul 20 488-6s -1-4 -0.31%
Live Cattle Aug 19 108.650s -0.250 -0.23%
Live Cattle Oct 19 109.900s unch unch
Live Cattle Dec 19 114.350s +0.050 +0.04%
Feeder Cattle Aug 19 142.800s -0.025 -0.02%
Feeder Cattle Sep 19 143.225s +0.350 +0.24%
Feeder Cattle Oct 19 143.275s +0.250 +0.17%
Lean Hogs Aug 19 85.950s -0.600 -0.69%
Lean Hogs Oct 19 78.650s -2.200 -2.72%
Lean Hogs Dec 19 77.350s -1.900 -2.40%
