Manitoba (Reuters) – ICE canola futures rose on Friday, halting a four-day skid on short-covering and strength in soyoil.
Funds covered part of their short position after the November contract bounced off the support level of $440 on Thursday, a trader said.
Lack of export demand, with China not buying Canadian canola, overhangs the market, a trader said. Supplies are ample, with a crop tour on Thursday reporting that canola yields look to rebound from earlier dry conditions.
November canola gained $2.80 to $444.80 per tonne.
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Seventy percent of canola in Alberta was rated good or excellent, the Canadian provincial government said.
November-January canola spread traded 2,286 times.
Chicago August soybeans rose in a rebound from the previous day’s two-month low.
Paris Matif November rapeseed futures and Malaysian October palm oil futures eased.
The Canadian dollar weakened to a six-week low against its U.S. counterpart after domestic data showed a decrease in exports and as investors weighed the prospect of additional U.S. tariffs on Chinese goods.
OUTSIDE MARKETS
Light crude oil nearby futures in New York US$55.19 per barrel.
In the afternoon, the Canadian dollar was trading down .40 cents at around US75.66. The U.S. dollar was C$1.3217.
Name / Contract Last Change % Change
Canola Nov 19 444.80s +2.80 +0.63%
Canola Jan 20 453.10s +3.30 +0.73%
Canola Mar 20 460.30s +3.60 +0.79%
Canola May 20 466.60s +3.70 +0.80%
Canola Jul 20 471.90s +3.70 +0.79%
Soybean Aug 19 850-2s +3-2 +0.38%
Soybean Sep 19 855-6s +3-0 +0.35%
Soybean Nov 19 868-4s +3-2 +0.38%
Soybean Jan 20 882-0s +3-2 +0.37%
Soybean Mar 20 894-2s +2-4 +0.28%
Soybean Meal Aug 19 292.4s -0.8 -0.27%
Soybean Meal Sep 19 294.5s -0.6 -0.20%
Soybean Meal Oct 19 296.2s -0.5 -0.17%
Soybean Oil Aug 19 28.19s +0.51 +1.84%
Soybean Oil Sep 19 28.32s +0.52 +1.87%
Soybean Oil Oct 19 28.44s +0.52 +1.86%
Corn Sep 19 399-4s +6-6 +1.72%
Corn Dec 19 409-4s +7-0 +1.74%
Corn Mar 20 420-4s +7-2 +1.75%
Corn May 20 426-4s +6-6 +1.61%
Corn Jul 20 430-6s +6-2 +1.47%
Oats Sep 19 265-4s +7-0 +2.71%
Oats Dec 19 270-0s +4-6 +1.79%
Oats Mar 20 274-4s +5-0 +1.86%
Oats May 20 274-0s +5-0 +1.86%
Oats Jul 20 273-6s +5-0 +1.86%
Wheat Sep 19 490-6s +15-0 +3.15%
Wheat Dec 19 491-4s +10-6 +2.24%
Wheat Mar 20 500-4s +8-6 +1.78%
Wheat May 20 506-0s +8-2 +1.66%
Wheat Jul 20 510-0s +9-0 +1.80%
Minneapolis
Spring Wheat Sep 19 522-2s +3-6 +0.72%
Spring Wheat Dec 19 534-6s +2-4 +0.47%
Spring Wheat Mar 20 548-6s +1-6 +0.32%
Spring Wheat May 20 557-6s +1-6 +0.31%
Spring Wheat Jul 20 566-4s +1-2 +0.22%
Kansas City
Hard Red Wheat Sep 19 421-6s +6-0 +1.44%
Hard Red Wheat Dec 19 438-6s +5-4 +1.27%
Hard Red Wheat Mar 20 455-4s +5-0 +1.11%
Hard Red Wheat May 20 466-2s +4-0 +0.87%
Hard Red Wheat Jul 20 472-2s +4-2 +0.91%
Chicago livestock futures in US¢/pound, Pit trade
Live Cattle Aug 19 107.650s -0.225 -0.21%
Live Cattle Oct 19 107.825s -0.900 -0.83%
Live Cattle Dec 19 111.775s -1.075 -0.95%
Feeder Cattle Aug 19 139.625s -1.600 -1.13%
Feeder Cattle Sep 19 138.225s -3.300 -2.33%
Feeder Cattle Oct 19 137.975s -3.550 -2.51%
Lean Hogs Aug 19 76.275s -0.525 -0.68%
Lean Hogs Oct 19 65.725s -1.750 -2.59%
Lean Hogs Dec 19 63.250s -3.000 -4.53%
