Stronger loonie weighs on canola as trade watches weather

Canola futures dipped Wednesday as the loonie rose about a half cent.

The market was watching weather in the western part of the Prairies where rain and strong wind was delaying seeding.

Chicago wheat futures closed higher on Wednesday on light short covering, one day after the spot contract fell about one percent on better-than-expected U.S. wheat condition ratings, Reuters reported.

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Corn futures firmed while soybeans ended flat after a choppy session

Commodity funds hold a large net short position in CBOT wheat and corn futures, leaving the market vulnerable to bouts of short covering.

Worrisome weather lent support, with excessive moisture in the U.S. Plains and Midwest raising concerns about yield prospects and grain quality for maturing winter wheat crops, Reuters reported.

OUTSIDE MARKETS

Light crude oil nearby futures in New York were down 11 cents to US$51.36 per barrel.

In the afternoon, the Canadian dollar was trading around US74.53 cents, up from 74.00 cents the previous trading day. The U.S. dollar was C$1.3417.

The Toronto Stock Exchange’s S&P/TSX composite index .GSPTSE settled down 57.45 points, or 0.37 percent, at 15,419.49.

The Dow Jones Industrial Average was up 74.51 points, or 0.36 percent, to 21,012.42, the S&P 500 gained 5.97 points, or 0.25 percent, to 2,404.39, a new record high close, and the Nasdaq Composite added 24.31 points, or 0.40 percent, to 6,163.02.

 

Winnipeg ICE Futures Canada dollars per tonne

Canola Jul 2017   523.70   -2.10   -0.40%

Canola Nov 2017   498.30   -2.90   -0.58%

Canola Jan 2018   503.80   -3.20   -0.63%

Canola Mar 2018   508.70   -3.20   -0.63%

Canola May 2018   511.50   unch   0.00%

 

Milling Wheat Jul 2017   244.00   +5.00   +2.09%

Milling Wheat Oct 2017   242.00   +4.00   +1.68%

Milling Wheat Dec 2017   244.00   +4.00   +1.67%

 

Durum Wheat Jul 2017   276.00   unch   0.00%

Durum Wheat Oct 2017   267.00   unch   0.00%

Durum Wheat Dec 2017   267.00   unch   0.00%

 

Barley Jul 2017   138.00   unch   0.00%

Barley Oct 2017   140.00   unch   0.00%

Barley Dec 2017   140.00   unch   0.00%

 

American crop prices in cents US/bushel, soybean meal in $US/short ton, soy oil in cents US/pound

 

Chicago

Soybeans Jul 2017   948.25   unch   0.00%

Soybeans Aug 2017   950.25   unch   0.00%

Soybeans Sep 2017   947.75   -0.25   -0.03%

Soybeans Nov 2017   948.00   -0.50   -0.05%

Soybeans Jan 2018   955.25   -0.50   -0.05%

Soybeans Mar 2018   958.75   -0.50   -0.05%

 

Soybean Meal Jul 2017   306.40   +0.10   +0.03%

Soybean Meal Aug 2017   307.60   +0.10   +0.03%

Soybean Meal Sep 2017   308.90   +0.10   +0.03%

 

Soybean Oil Jul 2017   32.28   -0.06   -0.19%

Soybean Oil Aug 2017   32.38   -0.07   -0.22%

Soybean Oil Sep 2017   32.50   -0.07   -0.21%

 

Corn Jul 2017   371.25 +1.75   +0.47%

Corn Sep 2017   379.00   +2.00   +0.53%

Corn Dec 2017   389.75   +2.00   +0.52%

Corn Mar 2018   399.25   +1.75   +0.44%

Corn May 2018   405.25   +1.50   +0.37%

 

Oats Jul 2017   238.50   -2.75   -1.14%

Oats Sep 2017   231.25   -1.25   -0.54%

Oats Dec 2017   226.75   +1.50   +0.67%

Oats Mar 2018   229.25   +2.75   +1.21%

Oats May 2018   229.25   +2.75   +1.21%

 

Wheat Jul 2017   432.50   +3.00   +0.70%

Wheat Sep 2017   446.00   +2.00   +0.45%

Wheat Dec 2017   467.75   +1.50   +0.32%

Wheat Mar 2018   486.00   +1.00   +0.21%

Wheat May 2018   498.50   +1.00   +0.20%

 

Minneapolis

Spring Wheat Jul 2017   561.00   +6.75   +1.22%

Spring Wheat Sep 2017   566.75   +6.50   +1.16%

Spring Wheat Dec 2017   573.25   +5.50   +0.97%

Spring Wheat Mar 2018   579.50   +4.50   +0.78%

Spring Wheat May 2018   583.25   +4.00   +0.69%

 

Kansas City

Hard Red Wheat Jul 2017   432.75   +2.25   +0.52%

Hard Red Wheat Sep 2017   450.50   +2.25   +0.50%

Hard Red Wheat Dec 2017   475.75   +1.75   +0.37%

Hard Red Wheat Mar 2018 491.25   +1.50   +0.31%

Hard Red Wheat May 2018   501.50   +1.25   +0.25%

 

Chicago livestock futures in US¢/pound (rounded to two decimal places)

Live Cattle (P) Jun 2017   122.12   -0.95   -0.77%

Live Cattle (P) Aug 2017   119.92   -1.41   -1.16%

Live Cattle (P) Oct 2017   116.75   -1.30   -1.10%

 

Feeder Cattle (P) May 2017   144.00   -0.25   -0.17%

Feeder Cattle (P) Aug 2017   148.68   -2.82   -1.86%

Feeder Cattle (P) Sep 2017   148.82   -2.86   -1.89%

 

Lean Hogs (P) Jun 2017   80.20   +0.05   +0.06%

Lean Hogs (P) Jul 2017   79.85   -0.18   -0.22%

Lean Hogs (P) Aug 2017   79.85   -0.05   -0.06%

 

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