Commodities, canola hold on

Canola held on to most of the gains made earlier in the week, riding the tails of the bigger commodities, especially soybeans. But, a rising Loonie took some rungs off the ladder at the end of today’s trading.

Wheat was not so lucky, as its rise was punched down with some profit-taking removing some dough from the table. March spring wheat MGEX contracts dipped 1.5 US cents to US$6.0175 per bushel, winter wheat for Kansas City and Chicago were both off a US nickel.

India’s wheat crop acreage is down about almost 4.5 percent to 75 million acres, while the Ukraine has seen 10 percent fewer exports than one year ago, even after a record crop last fall.

Corn grew due to a large export sale announcement by the USDA.

Weather down south remains the talk on the street, say analysts. With warmer and drier conditions in much of the Lower-48 the potential for winter wheat damage isn’t being reduced, as more seasonal cold is set to return by week’s end. Rain is predicted in the U.S. South and Southeast, improving crop prospects in that region.

Much further to the south the weather in Argentina is not improving things for soybean farmers, but in Brazil the crop’s potential remains strong say analysts, so that should displace any shortfalls from its continental neighbour. The overall effects are to flatten the market, keeping soybeans trading within the technical ranges set out over the previous weeks.

Iran has so far not shown any sign of purchasing barley for its for its 9 million bushel tender, however it did made some deals to get about the same amount of feed corn from Russia and Brazil for near term delivery.

March canola on ICE traded down slightly to $503.80, May $508.50 and July $512.50 with new crop also down slightly to $507 for Nov. and $511.40 for Jan. of 2019.

The Canadian dollar was up slightly, making it to 79.95 US cents after closing at 73.39 yesterday. Light crude on New York was up, which always seems to help the Loonie, it finished at US$60.60 per barrel.

Winnipeg ICE Futures Canada dollars per tonne.

Canola Mar 18 503.80s -0.10 -0.02%

Canola May 18 508.50s -0.50 -0.10%

Canola Jul 18 512.50s -0.40 -0.08%

Canola Nov 18 507.00s -0.60 -0.12%

Canola Jan 19 511.40s -0.60 -0.12%

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.


Soybeans Mar 18 1017-2s +5-4 +0.54%

Soybeans May 18 1027-6s +5-4 +0.54%

Soybeans Jul 18 1037-4s +5-4 +0.53%

Soybeans Aug 18 1038-4s +5-0 +0.48%

Soybeans Sep 18 1027-2s +3-4 +0.34%

Soybean Meal Mar 18 369.9s +4.7 +1.29%

Soybean Meal May 18 371.8s +5.1 +1.39%

Soybean Meal Jul 18 369.5s +3.5 +0.96%

Soybean Oil Mar 18 31.80s +0.23 +0.73%

Soybean Oil May 18 32.01s +0.23 +0.72%

Soybean Oil Jul 18 32.22s +0.22 +0.69%


Corn Mar 18 367-2s +0-4 +0.14%

Corn May 18 374-6s +0-4 +0.13%

Corn Jul 18 382-4s +0-4 +0.13%

Corn Sep 18 388-6s +0-2 +0.06%

Corn Dec 18 396-4s +0-4 +0.13%


Oats Mar 18 265-6s -7-6 -2.83%

Oats May 18 266-4s -6-6 -2.47%

Oats Jul 18 264-4s -5-6 -2.13%

Oats Sep 18 263-0s -5-6 -2.14%

Oats Dec 18 262-0s -5-2 -1.96%


Wheat Mar 18 455-6s -5-0 -1.09%

Wheat May 18 469-2s -4-4 -0.95%

Wheat Jul 18 483-6s -3-6 -0.77%

Wheat Sep 18 499-2s -3-0 -0.60%

Wheat Dec 18 519-6s -2-4 -0.48%



Spring Wheat Mar 18 600-2s -1-4 -0.25%

Spring Wheat May 18 612-4s -2-2 -0.37%

Spring Wheat Jul 18 623-0s -1-2 -0.20%

Spring Wheat Sep 18 631-4s -0-4 -0.08%

Spring Wheat Dec 18 641-0s +0-6 +0.12%


Kansas City

Hard Red Wheat Mar 18 469-6s -4-6 -1.00%

Hard Red Wheat May 18 484-4s -4-6 -0.97%

Hard Red Wheat Jul 18 502-0s -4-6 -0.94%

Hard Red Wheat Sep 18 519-6s -4-4 -0.86%

Hard Red Wheat Dec 18 541-4s -4-2 -0.78%


Chicago livestock futures in US¢/pound, Pit trade

Live Cattle Feb 18 127.650s +0.825 +0.65%

Live Cattle Apr 18 125.225s +0.450 +0.36%

Live Cattle Jun 18 117.050s +0.400 +0.34%


Feeder Cattle Mar 18 148.175s +0.900 +0.61%

Feeder Cattle Apr 18 150.425s +0.925 +0.62%

Feeder Cattle May 18 151.100s +0.775 +0.52%


Lean Hogs Feb 18 73.500s +0.150 +0.20%

Lean Hogs Apr 18 70.650s +1.225 +1.76%

Lean Hogs May 18 76.425s +1.300 +1.73%




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Michael Raine Saskatoon newsroom's recent articles


  • LTO

    This title is a really poor choice of words given what happened at the Florida school yesterday……

    • LTO,

      Agreed, I’ve changed the headline.

      In defence of the editor that posted the story, the phrase “Valentine’s Day Massacre” is one often used in relation to business/markets stories – and many of the commodities covered in this story are traded out of Chicago, the site of the original “St. Valentine’s Day Massacre” in 1929.

      It’s also quite likely that, at the time yesterday we typically begin putting this story together, the school shooting in Florida was only just underway. Our editor may not have even been aware of it.

      It’s no excuse – the old headline is clearly insensitive given what we now know happened yesterday, but how that headline came to be used is, I believe, understandable.

      Paul – WP web editor

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