WINNIPEG, December 21 (CNS) – Canola contracts on the ICE Futures Canada platform were lower at 10:43 CST on Thursday, tracking losses in the U.S. soy complex.
Strength in the Canadian dollar also weighed down canola, as it made the commodity less attractive to international buyers.
The dominant March contract has sunk below the psychologically-important C$500 per tonne mark, which could set the stage for further selling.
Rain in South America is improving soil conditions for soybeans and canola crush margins have fallen significantly over the past three days.
Read Also
Feed Grains Weekly: Price likely to keep stepping back
As the harvest in southern Alberta presses on, a broker said that is one of the factors pulling feed prices lower in the region. Darcy Haley, vice-president of Ag Value Brokers in Lethbridge, added that lower cattle numbers in feedlots, plentiful amounts of grass for cattle to graze and a lacklustre export market also weighed on feed prices.
However, traders were squaring positions before the weekend. Canadian markets close early on Friday and won’t re-open until Wednesday.
OUTSIDE MARKETS
Light crude oil nearby futures in New York were up 27 cents at US$58.23 per barrel.
In the afternoon, the Canadian dollar was trading around US78.45 cents, up from 77.95 cents the previous trading day. The U.S. dollar was C$1.2746
Winnipeg ICE Futures Canada dollars per tonne.
Canola Jan 18 492.10s -2.70 -0.55%
Canola Mar 18 497.80s -3.90 -0.78%
Canola May 18 505.10s -3.90 -0.77%
Canola Jul 18 508.70s -3.90 -0.76%
Canola Nov 18 497.20s -3.80 -0.76%
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
Soybeans Jan 18 948-6s -5-2 -0.55%
Soybeans Mar 18 959-0s -5-4 -0.57%
Soybeans May 18 970-4s -5-4 -0.56%
Soybeans Jul 18 981-0s -5-4 -0.56%
Soybeans Aug 18 983-4s -4-6 -0.48%
Soybean Meal Jan 18 314.2s -1.5 -0.48%
Soybean Meal Mar 18 318.1s -1.6 -0.50%
Soybean Meal May 18 321.5s -1.4 -0.43%
Soybean Oil Jan 18 32.67s -0.29 -0.88%
Soybean Oil Mar 18 32.83s -0.30 -0.91%
Soybean Oil May 18 32.99s -0.30 -0.90%
Corn Mar 18 351-2s +2-0 +0.57%
Corn May 18 359-4s +2-0 +0.56%
Corn Jul 18 367-6s +1-6 +0.48%
Corn Sep 18 375-0s +1-4 +0.40%
Corn Dec 18 383-6s +1-2 +0.33%
Oats Mar 18 244-0s -1-0 -0.41%
Oats May 18 250-0s -1-4 -0.60%
Oats Jul 18 257-4s -2-2 -0.87%
Oats Sep 18 259-4s -2-2 -0.86%
Oats Dec 18 261-4s -2-2 -0.85%
Wheat Mar 18 427-0s +3-4 +0.83%
Wheat May 18 439-0s +2-6 +0.63%
Wheat Jul 18 451-6s +1-6 +0.39%
Wheat Sep 18 463-6s +1-0 +0.22%
Wheat Dec 18 479-4s unch unch
Minneapolis
Spring Wheat Mar 18 617-0s -0-6 -0.12%
Spring Wheat May 18 625-2s -0-6 -0.12%
Spring Wheat Jul 18 630-2s -0-6 -0.12%
Spring Wheat Sep 18 626-4s -0-6 -0.12%
Spring Wheat Dec 18 635-6s -0-2 -0.04%
Kansas City
Hard Red Wheat Mar 18 424-2s +1-6 +0.41%
Hard Red Wheat May 18 437-2s +1-6 +0.40%
Hard Red Wheat Jul 18 453-6s +1-4 +0.33%
Hard Red Wheat Sep 18 468-2s +1-0 +0.21%
Hard Red Wheat Dec 18 489-0s +0-4 +0.10%
Chicago livestock futures in US¢/pound, Pit trade
Live Cattle Dec 17 119.625s +0.225 +0.19%
Live Cattle Feb 18 119.675s +0.725 +0.61%
Live Cattle Apr 18 120.575s +0.625 +0.52%
Feeder Cattle Jan 18 142.925s +1.150 +0.81%
Feeder Cattle Mar 18 140.400s +0.650 +0.47%
Feeder Cattle Apr 18 141.100s +0.650 +0.46%
Lean Hogs Feb 18 68.575s +0.200 +0.29%
Lean Hogs Apr 18 73.075s +0.125 +0.17%
Lean Hogs May 18 78.300s +0.275 +0.35%
