ICE canola futures rise on short covering, halt skid

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.

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%

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