Poor harvest boosts canola futures

WINNIPEG, Manitoba, Dec 6 (Reuters) – ICE canola futures rose on Friday after a Canadian government report showed the harvest fell well short of expectations after a wet autumn.

* Statistics Canada pegged the Canadian canola harvest at 18.6 million tonnes, 1 million tonnes short of the average trade expectation.

* A weaker Canadian dollar and strong soyoil prices added to canola‘s strength, a trader said.

* January canola gained $3.90 to $458.40 per tonne in heavy volume.

* January-March canola spread traded 14,104 times, accounting for much of the day’s trading.

* The Canadian dollar weakened against its U.S. counterpart after data showing a surprise slump in domestic jobs raised expectations for a Bank of Canada interest rate cut over the coming months.

* U.S. soy futures rose for a fourth consecutive session as China said it would waive import tariffs for some American farm products, renewing optimism for a possible trade agreement between Washington and Beijing.

* Euronext February rapeseed futures and Malaysian February palm oil futures gained.

OUTSIDE MARKETS

Light crude oil nearby futures in New York was up $2.03 at US$59.12 per barrel.

In the afternoon, the Canadian dollar was down .46 cents at US75.44. The U.S. dollar was C$1.3255, up 77 cents from the previous day.

 

Name / Contract High Low Last Change Settlement
Canola Jan 2020 461.10 454.30 458.10 3.60 458.10
Canola Mar 2020 469.70 463.30 466.80 3.50 466.80
Canola May 2020 477.60 473.30 474.40 3.00 474.40
Canola Jul 2020 483.60 479.40 480.10 2.60 480.10
Canola Nov 2020 484.80 481.40 482.80 3.50 482.80
Soybean Jan 2020 894.00 884.50 889.50 5.25 890.75
Soybean Mar 2020 908.50 899.00 903.75 5.00 904.75
Soybean May 2020 922.75 913.75 918.25 4.75 919.00
Soybean Jul 2020 935.50 926.75 931.50 4.75 932.00
Soybean Aug 2020 939.25 931.00 935.75 5.00 935.75
Soybean Sep 2020 936.75 929.50 934.00 4.75 933.75
Soybean Meal Dec 2019 301.30 296.80 297.40 -2.10 298.20
Soybean Meal Jan 2020 303.90 298.50 299.30 -2.20 299.50
Soybean Meal Mar 2020 306.70 301.80 302.50 -2.10 302.50
Soybean Oil Dec 2019 31.01 30.61 31.01 0.72 30.94
Soybean Oil Jan 2020 31.30 30.49 31.22 0.72 31.29
Soybean Oil Mar 2020 31.57 30.79 31.50 0.71 31.57
Corn Dec 2019 368.75 364.75 366.50 1.00 367.00
Corn Mar 2020 379.50 375.00 376.75 unch 377.00
Corn May 2020 385.00 380.75 382.50 unch 382.50
Corn Jul 2020 389.25 385.25 386.75 -0.25 387.00
Corn Sep 2020 388.00 385.25 386.75 0.50 386.75
Oats Dec 2019 314.00 313.75 313.75 -2.50 314.00
Oats Mar 2020 296.25 290.25 292.25 -3.00 292.00
Oats May 2020 291.75 288.75 289.25 -3.50 289.75
Oats Jul 2020 285.00 284.50 284.50 -2.00 285.00
Oats Sep 2020 276.25 275.25 276.25 -1.50 277.75
Wheat Dec 2019 532.75 529.00 532.50 0.50 529.00
Wheat Mar 2020 526.75 519.25 524.50 0.75 523.25
Wheat May 2020 530.75 523.25 527.75 -0.25 526.50
Wheat Jul 2020 532.50 525.75 530.00 unch 528.25
Wheat Sep 2020 538.50 532.25 536.25 0.50 534.25
Spring Wheat Dec 2019 502.25 501.75 502.25 4.25 502.25
Spring Wheat Mar 2020 518.75 511.50 512.25 -1.50 512.25
Spring Wheat May 2020 527.50 520.50 521.75 -1.00 521.75
Spring Wheat Jul 2020 536.50 529.75 529.75 -2.50 529.75
Spring Wheat Sep 2020 545.25 539.50 539.50 -2.50 539.50
Hard Red Wheat Dec 2019 426.75 415.00 415.00 -5.25 420.25
Hard Red Wheat Mar 2020 438.25 428.75 431.00 -4.50 430.25
Hard Red Wheat May 2020 446.00 437.50 439.50 -3.50 438.25
Hard Red Wheat Jul 2020 452.50 445.25 447.50 -2.25 446.75
Hard Red Wheat Sep 2020 459.75 454.25 456.50 -1.25 455.25
Live Cattle (Pit) Dec 2019 120.20 120.20 120.20 0.28 120.20
Live Cattle (Pit) Feb 2020 124.98 124.98 124.98 0.38 124.98
Live Cattle (Pit) Apr 2020 125.35 125.35 125.35 0.20 125.35
Feeder Cattle (Pit) Jan 2020 141.55 141.55 141.55 1.00 141.55
Feeder Cattle (Pit) Mar 2020 141.68 141.68 141.68 0.53 141.68
Feeder Cattle (Pit) Apr 2020 143.78 143.78 143.78 0.65 143.78
Lean Hogs (Pit) Dec 2019 61.13 61.13 61.13 -0.45 61.13
Lean Hogs (Pit) Feb 2020 67.55 67.55 67.55 -0.03 67.55
Lean Hogs (Pit) Apr 2020 73.70 73.70 73.70 0.20 73.70

 

 

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