The weather market has settled in nicely. With every forecast and sunny hour the market swings up or down, the persistent sideways-across-the-bottom of last year appears to have gone on summer holidays.
Last week’s gains of a few points on most crops saw those taken back as markets moved on favourable weather for crops, warm, but not hot and dry, for most Midwestern regions. Soybeans lost 1.5 points on Chicago futures, while corn took back two and winter wheat fell three percent on the day. Soybeans led all commodities for volume today as good weather mixed with no-news on the trade front.
Read Also
Beef check-off collection system aligns across the country
A single and aligned check-off collection system based on where producers live makes the system equal said Chad Ross, Saskatchewan Cattle Association chair.
Canola felt the heat, or lack of it, tumbling $2.60 per tonne on ICE futures to $447 for November. July 2020 fell the least of all the contracts, $1.90 to $472.10.
Hard red spring wheat at Western Canadian elevators, based on Alberta Wheat’s PDQ system, was down in a range of $1.50 to $3.38 per tonne, depending on the region, with southern Alberta priced at about $231 per tonne, southern Saskatchewan at $221 and western Manitoba at $215. Durum was up slightly, in range of $240 to $254 per tonne. Peas were off slightly, in range of $221 to $247 outside of southern Manitoba, where these were $207 to 211.
Deferred basis prices on wheat improved across the board today, as did canola.
August soybeans on Chicago fell 13.25 US cents to $8.89-25 per bushel. Producers would have to wait for November contracts to get above $9 again, where the price was $9.06-25 after falling 13.5 cents.
September corn was off 8.5 cents to 4.22-25 per bu. Spring wheat for December was down 7.5 to $5.35 per bu.
Live cattle were up on the day, with pit-trade for August up 85 cents to $108.45 per hundredweight. Feeder cattle for October were up $2.63 to $142.65. Lean hogs for October were up 28 cents to $79.20.
The Canadian dollar was down slightly, ending at 76.32 cents to the American unit.
| Name / Contract | High | Low | Last | Change | Settlement |
| Canola Nov 2019 (updated 1:19PM(CST) on 7/22/2019) | 451.00 | 446.10 | 447.00 | -2.60 | 447.00 |
| Canola Jan 2020 (updated 1:18PM(CST) on 7/22/2019) | 457.90 | 453.10 | 454.30 | -2.30 | 454.30 |
| Canola Mar 2020 (updated 1:16PM(CST) on 7/22/2019) | 464.90 | 460.20 | 461.20 | -2.40 | 461.20 |
| Canola May 2020 (updated 1:16PM(CST) on 7/22/2019) | 470.70 | 466.40 | 467.10 | -2.20 | 467.10 |
| Canola Jul 2020 (updated 1:16PM(CST) on 7/22/2019) | 475.70 | 471.40 | 472.10 | -1.90 | 472.10 |
| Soybean Aug 2019 | 904.25 | 887.50 | 888.25 | -13.25 | 889.25 |
| Soybean Sep 2019 | 910.00 | 893.25 | 894.00 | -13.25 | 895.00 |
| Soybean Nov 2019 | 922.00 | 905.00 | 905.75 | -13.50 | 906.75 |
| Soybean Jan 2020 | 933.75 | 917.75 | 918.50 | -13.25 | 919.50 |
| Soybean Mar 2020 | 942.50 | 927.25 | 928.25 | -12.25 | 929.25 |
| Soybean May 2020 | 950.00 | 936.25 | 937.00 | -11.75 | 938.00 |
| Soybean Meal Aug 2019 | 312.20 | 308.20 | 308.40 | -2.80 | 308.50 |
| Soybean Meal Sep 2019 | 313.40 | 309.40 | 309.70 | -2.80 | 309.90 |
| Soybean Meal Oct 2019 | 314.90 | 311.00 | 311.30 | -3.00 | 311.40 |
| Soybean Oil Aug 2019 | 28.23 | 27.70 | 27.73 | -0.37 | 27.71 |
| Soybean Oil Sep 2019 | 28.33 | 27.82 | 27.85 | -0.35 | 27.82 |
| Soybean Oil Oct 2019 | 28.44 | 27.91 | 27.95 | -0.36 | 27.93 |
| Corn Sep 2019 | 432.25 | 421.00 | 422.25 | -8.50 | 422.25 |
| Corn Dec 2019 | 437.00 | 425.50 | 426.75 | -9.00 | 427.00 |
| Corn Mar 2020 | 445.25 | 434.25 | 435.75 | -8.25 | 435.75 |
| Corn May 2020 | 448.25 | 438.50 | 440.25 | -7.75 | 440.00 |
| Corn Jul 2020 | 452.00 | 442.50 | 443.75 | -7.50 | 443.75 |
| Oats Sep 2019 | 276.25 | 266.00 | 266.75 | -5.00 | 266.50 |
| Oats Dec 2019 | 275.00 | 266.25 | 267.00 | -5.25 | 266.50 |
| Oats Mar 2020 | 274.75 | 270.75 | 270.75 | -5.00 | 272.00 |
| Oats May 2020 | 269.75 | 269.75 | 269.75 | -5.00 | 274.75 |
| Oats Jul 2020 | 269.00 | 269.00 | 269.00 | -5.00 | 274.00 |
| Wheat Sep 2019 | 505.25 | 487.00 | 487.25 | -15.25 | 487.75 |
| Wheat Dec 2019 | 515.00 | 498.50 | 499.00 | -14.50 | 499.50 |
| Wheat Mar 2020 | 526.00 | 511.00 | 511.50 | -13.75 | 511.75 |
| Wheat May 2020 | 530.25 | 517.75 | 518.00 | -13.00 | 518.25 |
| Wheat Jul 2020 | 532.25 | 520.25 | 520.50 | -10.75 | 521.00 |
| Spring Wheat Sep 2019 | 529.00 | 521.00 | 521.00 | -8.25 | 521.00 |
| Spring Wheat Dec 2019 | 542.25 | 534.75 | 535.00 | -7.50 | 535.00 |
| Spring Wheat Mar 2020 | 556.00 | 550.00 | 550.00 | -6.50 | 550.00 |
| Spring Wheat May 2020 | 562.50 | 559.75 | 559.75 | -5.00 | 559.75 |
| Spring Wheat Jul 2020 | 571.50 | 568.50 | 568.50 | -4.25 | 568.50 |
| Hard Red Wheat Sep 2019 | 443.25 | 428.00 | 429.25 | -10.75 | 429.25 |
| Hard Red Wheat Dec 2019 | 461.75 | 447.25 | 448.50 | -11.25 | 449.00 |
| Hard Red Wheat Mar 2020 | 480.50 | 466.50 | 467.75 | -11.50 | 468.25 |
| Hard Red Wheat May 2020 | 491.25 | 480.00 | 480.00 | -11.50 | 480.50 |
| Hard Red Wheat Jul 2020 | 497.00 | 484.75 | 485.75 | -11.25 | 486.75 |
| Live Cattle (Pit) Aug 2019 | 108.45 | 108.45 | 108.45 | 0.85 | 108.45 |
| Live Cattle (Pit) Oct 2019 | 109.15 | 109.15 | 109.15 | 0.65 | 109.15 |
| Live Cattle (Pit) Dec 2019 | 113.80 | 113.80 | 113.80 | 0.63 | 113.80 |
| Feeder Cattle (Pit) Aug 2019 | 142.18 | 142.18 | 142.18 | 2.20 | 142.18 |
| Feeder Cattle (Pit) Sep 2019 | 142.43 | 142.43 | 142.43 | 2.63 | 142.43 |
| Feeder Cattle (Pit) Oct 2019 | 142.65 | 142.65 | 142.65 | 2.63 | 142.65 |
| Lean Hogs (Pit) Aug 2019 | 83.23 | 83.23 | 83.23 | -0.65 | 83.23 |
| Lean Hogs (Pit) Oct 2019 | 79.20 | 79.20 | 79.20 | 0.28 | 79.20 |
| Lean Hogs (Pit) Dec 2019 | 77.03 | 77.03 | 77.03 | 0.28 | 77.03 |
| Canadian Dollar Aug 2019 | 0.7667 | 0.7626 | 0.7632 | -0.0028 | 0.7632 |
| Crude Oil WTI Aug 2019 | 56.84 | 55.72 | 56.22 | 0.59 | 56.22 |
Prices updated at 1:20PM(CST) on 7/22/2019
