ICE canola futures edge higher on weaker dollar, soybean gains

WINNIPEG, Manitoba, (Reuters) – ICE canola futures edged higher on Friday, helped by a weaker Canadian dollar and modest soybean strength.

Rallies are limited by continued restraints shipping Canadian canola to China amid a diplomatic dispute, a trader said, adding that canola remains technically weak.

March canola gained 30 cents to $461.30 per tonne.

March-May canola spread traded 6,704 times.

Chicago Board of Trade soybean futures closed modestly higher as light technical buying and strength in corn and wheat offset pressure from expectations of large South American soy harvests.

Euronext May rapeseed futures and Malaysian April palm oil futures dipped.

The Canadian dollar fell to a two-and-a-half month low against the greenback as the coronavirus outbreak weighed on investor sentiment.

 

OUTSIDE MARKETS

Light crude oil nearby futures in New York was down 67 cents at US$50.32 per barrel.

In the afternoon, the Canadian dollar was trading around US75.16 cents, down from 75.24 cents the previous trading day. The U.S. dollar was C$1.3305.

 

Winnipeg ICE Futures Canada dollars per tonne.

Canola Mar 20 461.30s +0.30 +0.07%

Canola May 20 470.60s +0.40 +0.09%

Canola Jul 20 477.50s +0.50 +0.10%

Canola Nov 20 483.90s -0.10 -0.02%

Canola Jan 21 490.30s -0.10 -0.02%

 

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

Soybean Mar 20 882-0s +1-0 +0.11%

Soybean May 20 895-0s +0-2 +0.03%

Soybean Jul 20 908-0s +0-2 +0.03%

Soybean Aug 20 912-4s unch unch

Soybean Sep 20 913-2s -0-2 -0.03%

 

Soybean Meal Mar 20 289.3s +1.1 +0.38%

Soybean Meal May 20 295.2s +1.2 +0.41%

Soybean Meal Jul 20 300.5s +1.5 +0.50%

 

Soybean Oil Mar 20 30.97s -0.27 -0.86%

Soybean Oil May 20 31.34s -0.27 -0.85%

Soybean Oil Jul 20 31.70s -0.27 -0.84%

 

Corn Mar 20 383-4s +4-2 +1.12%

Corn May 20 388-4s +4-0 +1.04%

Corn Jul 20 392-2s +4-2 +1.10%

Corn Sep 20 389-4s +4-0 +1.04%

Corn Dec 20 394-0s +4-2 +1.09%

 

Oats Mar 20 303-0s -1-6 -0.57%

Oats May 20 297-6s -1-4 -0.50%

Oats Jul 20 290-2s -0-6 -0.26%

Oats Sep 20 272-2s -1-0 -0.37%

Oats Dec 20 270-2s -0-4 -0.18%

 

Wheat Mar 20 558-6s +2-4 +0.45%

Wheat May 20 556-6s +3-2 +0.59%

Wheat Jul 20 557-0s +3-6 +0.68%

Wheat Sep 20 562-4s +4-0 +0.72%

Wheat Dec 20 571-0s +4-0 +0.71%

 

Minneapolis

Spring Wheat Mar 20 535-6s +3-2 +0.61%

Spring Wheat May 20 545-4s +3-0 +0.55%

Spring Wheat Jul 20 554-2s +2-6 +0.50%

Spring Wheat Sep 20 562-6s +2-4 +0.45%

Spring Wheat Dec 20 573-2s +1-6 +0.31%

 

Kansas City

Hard Red Wheat Mar 20 472-4s +4-6 +1.02%

Hard Red Wheat May 20 478-4s +4-0 +0.84%

Hard Red Wheat Jul 20 485-2s +3-6 +0.78%

Hard Red Wheat Sep 20 493-2s +3-6 +0.77%

Hard Red Wheat Dec 20 504-6s +3-6 +0.75%

 

Chicago livestock futures in US¢/pound, Pit trade

Live Cattle Feb 20 121.325s +0.200 +0.17%

Live Cattle Apr 20 119.800s +0.050 +0.04%

Live Cattle Jun 20 111.275s +0.100 +0.09%

 

Feeder Cattle Mar 20 135.200s -0.700 -0.52%

Feeder Cattle Apr 20 137.500s -0.075 -0.05%

Feeder Cattle May 20 139.575s -0.475 -0.34%

 

Lean Hogs Feb 20 57.100s -0.600 -1.04%

Lean Hogs Apr 20 66.250s +1.375 +2.12%

Lean Hogs May 20 74.850s +1.550 +2.11%

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