WINNIPEG – The ICE Futures canola market was modestly higher on Thursday, supported by a weaker Canadian dollar.
Both Chicago soyoil and Malaysian palm oil were lower this morning, while European rapeseed was mixed. Crude oil was lower as it was pulled down by a stronger U.S. greenback.
At mid-afternoon, the Canadian dollar was three-tenths of a U.S. cent lower than Wednesday’s close.
About 17,070 canola contracts were traded on Thursday, which compares with Wednesday when 15,731 contracts changed hands. Spreading accounted for 8,508 of the contracts traded.
Read Also
North American grain/oilseed review: Canola falls to two-month lows
Glacier FarmMedia — ICE Futures canola market was weaker on Tuesday, falling to its lowest levels in two months after…
CORN prices were only modestly lower at Thursday’s close.
The U.S. Department of Agriculture (USDA) reported that 636,800 tonnes of corn were sold during the week ended Dec. 15, exceeding analysts’ pre-report predictions of 625,000 tonnes. U.S. corn exports were 958,700 tonnes for the week with the season’s exports totalling 8.22 million tonnes.
The European Commission reported corn imports at 13.5 million tonnes for the season as of Dec. 18, more than twice the amount from the previous year.
SOYBEANS were down by double-digits for their first negative session in three days.
The USDA’s weekly export sales report showed 736,000 tonnes of U.S. soybeans were sold for the week ended Dec. 15. This was down from 2.9 million tonnes from the previous week and lower than trade expectations. During the week, 1.99 million tonnes were exported from the U.S. for a total of 24.93 million for the season.
The USDA also reported that 311,000 tonnes of soymeal were sold that week for a total of 2.265 million this season, while 822 tonnes of soyoil were purchased for a season’s total of more than 31,000 tonnes.
Despite severe winter weather approaching much of the continental U.S., WHEAT prices were mixed on Thursday.
USDA data showed that 334,200 tonnes of U.S. wheat were sold for the week ended Dec. 15 with much of the wheat being sent to unknown destinations. Export shipments for the week were 235,000 tonnes for a yearly total of 10.24 million tonnes.
Japan purchased 83,881 tonnes of milling wheat from the U.S. and 60,560 tonnes from Canada. Iraq purchased 150,000 tonnes of milling wheat, including 100,000 tonnes from Australia and 50,000 tonnes from the U.S. Taiwan bought 56,000 tonnes of U.S. milling wheat.
