ICE canola futures rise for third day, helped by bargain-buying

WINNIPEG, Manitoba, (Reuters) – ICE canola futures rose on Wednesday for a third straight day, boosted by bargain-buying after a recent selloff and limited farmer sales of their crops.

Global oilseed strength, especially of palm, added to canola’s lift, a trader said.

March canola added $6.80 to $461.70 per tonne.

March-May canola spread traded 6,223 times.

Canadian stocks of canola as of Dec. 31 were down 2.4% year over year, to 14.3 million tonnes, Statistics Canada said.

Malaysian April palm oil futures jumped 5% on expectations of a steep drop in January production and strength in rival soyoil.

U.S. soybean futures edged higher, and soyoil prices surged.

Euronext May rapeseed futures also climbed.

 

OUTSIDE MARKETS

Light crude oil nearby futures in New York was up $1.14 at US$50.75 per barrel.

In the afternoon, the Canadian dollar was trading around US75.25 cents, down from 75.31 cents the previous trading day. The U.S. dollar was C$1.3289.

 

Winnipeg ICE Futures Canada dollars per tonne.

Canola Mar 20 461.70s +6.80 +1.49%

Canola May 20 470.80s +6.90 +1.49%

Canola Jul 20 477.60s +6.90 +1.47%

Canola Nov 20 485.10s +5.80 +1.21%

Canola Jan 21 491.50s +5.90 +1.21%

 

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 20 880-0s +0-4 +0.06%

Soybean May 20 893-4s +0-4 +0.06%

Soybean Jul 20 907-2s +1-0 +0.11%

Soybean Aug 20 912-2s +0-6 +0.08%

Soybean Sep 20 913-6s +1-2 +0.14%

 

Soybean Meal Mar 20 287.4s -1.1 -0.38%

Soybean Meal May 20 293.1s -0.9 -0.31%

Soybean Meal Jul 20 298.4s -0.8 -0.27%

 

Soybean Oil Mar 20 31.32s +0.59 +1.92%

Soybean Oil May 20 31.69s +0.59 +1.90%

Soybean Oil Jul 20 32.05s +0.57 +1.81%

 

Corn Mar 20 380-6s -1-4 -0.39%

Corn May 20 386-4s -1-4 -0.39%

Corn Jul 20 391-0s -1-6 -0.45%

Corn Sep 20 388-6s -0-6 -0.19%

Corn Dec 20 392-4s -0-2 -0.06%

 

Oats Mar 20 304-4s -3-4 -1.14%

Oats May 20 299-0s -1-4 -0.50%

Oats Jul 20 290-6s -1-0 -0.34%

Oats Sep 20 272-4s -0-4 -0.18%

Oats Dec 20 270-4s -0-2 -0.09%

 

Wheat Mar 20 562-0s +4-6 +0.85%

Wheat May 20 559-0s +4-4 +0.81%

Wheat Jul 20 558-2s +3-6 +0.68%

Wheat Sep 20 564-2s +3-6 +0.67%

Wheat Dec 20 572-6s +3-4 +0.61%

 

Minneapolis

Spring Wheat Mar 20 535-2s +3-4 +0.66%

Spring Wheat May 20 544-6s +3-0 +0.55%

Spring Wheat Jul 20 553-4s +2-6 +0.50%

Spring Wheat Sep 20 562-0s +2-6 +0.49%

Spring Wheat Dec 20 573-2s +2-6 +0.48%

 

Kansas City

Hard Red Wheat Mar 20 473-6s +6-4 +1.39%

Hard Red Wheat May 20 480-2s +6-2 +1.32%

Hard Red Wheat Jul 20 487-2s +6-4 +1.35%

Hard Red Wheat Sep 20 495-2s +6-0 +1.23%

Hard Red Wheat Dec 20 506-4s +5-6 +1.15%

 

Chicago livestock futures in US¢/pound, Pit trade

Live Cattle Feb 20 120.750s -0.875 -0.72%

Live Cattle Apr 20 119.175s -1.475 -1.22%

Live Cattle Jun 20 110.825s -0.925 -0.83%

 

Feeder Cattle Mar 20 135.675s -1.825 -1.33%

Feeder Cattle Apr 20 137.250s -1.675 -1.21%

Feeder Cattle May 20 139.550s -1.750 -1.24%

 

Lean Hogs Feb 20 57.100s +0.350 +0.62%

Lean Hogs Apr 20 61.875s -0.450 -0.72%

Lean Hogs May 20 70.300s -0.600 -0.85%

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