WINNIPEG, (MarketsFarm) – Intercontinental Exchange (ICE) Futures canola contracts ended narrowly mixed on Thursday, despite spending most of the trading session in the red.
Uncertainty regarding when China will be in the market for agriculture commodities has sidelined some participants, which dragged on prices.
On Wednesday, 23,930 contracts were traded, which compares with Thursday when 28,659 contracts changed hands. Spreading accounted for 18,268 contracts traded.
SOYBEAN futures at the Chicago Board of Trade (CBOT) finished weaker on Thursday, dragged down by reports of high South American crop yields.
One private company estimated U.S. soybean exports will total between 700,000 and 1.2 million tonnes for last week. The firm also estimates soy meal exports will be between 200,000 and 400,000 tonnes, and soy oil to be between 15,000 and 30,000 tonnes. The official export numbers from the United States Department of Agriculture will be released tomorrow due to the President’s Day Holiday.
The USDA, at its annual agriculture projection report, expects soybean acres for 2020 to total 85 million acres in the U.S. That’s a considerable increase from the 76.1 million acres planted in 2019.
CORN futures were weaker on Thursday.
One private company estimates that last week’s corn exports will be between 900,000 and 1.1 million tonnes.
Production numbers from the Energy Information Administration showed ethanol production averaged just over 1 million barrels per day last week, which is slightly higher than the previous week. Ethanol stocks increased by 423,000 barrels to total 24.7 million barrels.
WHEAT futures were weaker today, correcting lower after double-digit gains were incurred earlier in the week.
Market participants expect wheat exports for last week to be between 400,000 and 640,000 tonnes.
The USDA expected 2020 wheat acreage in the U.S. to total 45 million acres, which was steady compared to last year.
OUTSIDE MARKETS
Light crude oil nearby futures in New York was up 49 cents at US$53.78 per barrel.
In the afternoon, the Canadian dollar was trading around US75.45 cents, down from 75.58 centsthe previous trading day. The U.S. dollar was C$1.3254.
Winnipeg ICE Futures Canada dollars per tonne.
Canola Mar 20 459.30s unch unch
Canola May 20 468.00s +0.10 +0.02%
Canola Jul 20 474.30s -0.30 -0.06%
Canola Nov 20 482.70s -0.70 -0.14%
Canola Jan 21 488.80s -1.40 -0.29%
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 20 892-6s -4-4 -0.50%
Soybean May 20 901-0s -4-4 -0.50%
Soybean Jul 20 911-0s -4-4 -0.49%
Soybean Aug 20 913-6s -5-0 -0.54%
Soybean Sep 20 913-4s -5-2 -0.57%
Soybean Meal Mar 20 292.9s -0.1 -0.03%
Soybean Meal May 20 298.3s -0.2 -0.07%
Soybean Meal Jul 20 303.1s -0.4 -0.13%
Soybean Oil Mar 20 30.12s -0.22 -0.73%
Soybean Oil May 20 30.47s -0.23 -0.75%
Soybean Oil Jul 20 30.84s -0.24 -0.77%
Corn Mar 20 378-4s -2-0 -0.53%
Corn May 20 382-6s -2-4 -0.65%
Corn Jul 20 385-4s -2-6 -0.71%
Corn Sep 20 384-0s -2-4 -0.65%
Corn Dec 20 388-4s -2-2 -0.58%
Oats Mar 20 298-4s -2-6 -0.91%
Oats May 20 299-4s -0-6 -0.25%
Oats Jul 20 294-0s +0-2 +0.09%
Oats Sep 20 276-4s -1-4 -0.54%
Oats Dec 20 269-0s +0-4 +0.19%
Wheat Mar 20 560-0s -5-2 -0.93%
Wheat May 20 559-2s -3-2 -0.58%
Wheat Jul 20 558-6s -2-4 -0.45%
Wheat Sep 20 564-4s -2-4 -0.44%
Wheat Dec 20 574-2s -2-2 -0.39%
Minneapolis
Spring Wheat Mar 20 529-4s -6-6 -1.26%
Spring Wheat May 20 540-0s -6-4 -1.19%
Spring Wheat Jul 20 549-2s -6-0 -1.08%
Spring Wheat Sep 20 558-4s -6-0 -1.06%
Spring Wheat Dec 20 570-6s -5-2 -0.91%
Kansas City
Hard Red Wheat Mar 20 473-6s -6-0 -1.25%
Hard Red Wheat May 20 481-0s -5-6 -1.18%
Hard Red Wheat Jul 20 488-2s -5-4 -1.11%
Hard Red Wheat Sep 20 496-2s -5-4 -1.10%
Hard Red Wheat Dec 20 507-6s -5-4 -1.07%
Chicago livestock futures in US¢/pound, Pit trade
Live Cattle Feb 20 120.100s -1.200 -0.99%
Live Cattle Apr 20 119.150s -1.650 -1.37%
Live Cattle Jun 20 110.925s -1.375 -1.22%
Feeder Cattle Mar 20 140.800s +0.025 +0.02%
Feeder Cattle Apr 20 142.525s -0.500 -0.35%
Feeder Cattle May 20 143.575s -0.800 -0.55%
Lean Hogs Apr 20 66.875s -0.700 -1.04%
Lean Hogs May 20 74.475s -0.825 -1.10%
Lean Hogs Jun 20 81.950s -1.225 -1.47%
