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Grain commodities up after WASDE – Western Producer

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Prices were up across the board today, as the latest USDA estimates showed smaller wheat crops in Europe, projected smaller corn and bean crops in the United States and relatively flat production globally for soybeans and corn.

Elevator prices for canola in northwestern Saskatchewan rose slightly, to reach $420.78 per tonne, about $9.54 per bushel, while spring wheat at the same locations were about $233.44 or $6.35, also up slightly, according to the PDQ system maintained by Alberta Wheat.

On American futures markets, ICE canola November ended the day at up $5.10, at $446.10 per tonne.

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Chicago soybeans were up 3.25 U.S. cents on the day, reaching $8.96 per bu. for July and $8.99 for November. Corn was a bigger winner, hitting $4.47-75 per bu. up 13.5 cents for July and 9.25 cents on the September contract, getting to $4.44-25. The World Agriculture Supply and Demand report put the American corn crop at 13.875 billion bu. with average yields at 166 bu. per acre.

Wheat was up more than four percent after the WASDE suggested that the world is growing less than earlier thought and stocks are disappearing faster than expected. A hot, dry period is hitting central Europe, pulling back yields, however that crop will still finish as much as 10 percent ahead of last year’s droughty season. Russia has reported that its planned 2.76 billion bu. crop remains flat to predictions.

Durum prices in southeastern Saskatchewan were holding their own at about $6.75 per bu. Yellow peas in the same location were selling for about $227 per tonne.

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The U.S. Climate Prediction Center is suggesting there will be a shift of the current El Niño conditions into ENSO – neutral later this month or in August, and this could last into winter. The news added to the uncertainties of supply in North America and other parts of the world, such as Australia.

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Name / Contract High Low Last Change Settlement
Canola Jul 2019 (updated 4:05PM(CST) on 7/10/2019) 448.90 446.10 446.10 5.10 446.10
Canola Nov 2019 (updated 1:19PM(CST) on 7/11/2019) 448.40 444.10 446.10 0.30 446.10
Canola Jan 2020 (updated 1:19PM(CST) on 7/11/2019) 455.20 451.60 453.40 0.50 453.40
Canola Mar 2020 (updated 1:14PM(CST) on 7/11/2019) 461.70 458.50 461.00 1.50 461.00
Canola May 2020 (updated 12:46PM(CST) on 7/11/2019) 467.50 464.00 466.30 1.30 466.30
Soybean Jul 2019 896.25 890.75 896.25 3.25 895.00
Soybean Aug 2019 899.50 887.25 899.00 4.50 897.75
Soybean Sep 2019 905.25 893.25 905.00 4.75 903.75
Soybean Nov 2019 917.75 905.50 917.25 4.50 916.25
Soybean Jan 2020 929.25 917.50 928.75 4.25 928.00
Soybean Mar 2020 939.00 926.00 938.50 4.25 937.50
Soybean Meal Jul 2019 311.60 309.30 311.60 2.50 311.00
Soybean Meal Aug 2019 313.00 309.30 312.40 1.70 312.40
Soybean Meal Sep 2019 314.60 310.80 314.00 1.60 314.10
Soybean Oil Jul 2019 28.08 27.75 28.07 0.10 27.97
Soybean Oil Aug 2019 28.25 27.94 28.18 0.09 28.16
Soybean Oil Sep 2019 28.35 28.08 28.29 0.09 28.27
Corn Jul 2019 448.00 433.25 447.75 13.50 442.25
Corn Sep 2019 444.75 426.50 444.25 9.25 443.00
Corn Dec 2019 448.50 430.25 448.00 8.50 446.75
Corn Mar 2020 454.75 437.00 454.50 8.25 453.50
Corn May 2020 457.25 441.00 457.00 7.50 456.25
Oats Jul 2019 281.00 281.00 281.00 5.25 275.75
Oats Sep 2019 279.75 272.25 278.25 4.75 276.00
Oats Dec 2019 281.25 273.00 280.75 5.25 280.75
Oats Mar 2020 283.75 278.00 283.75 4.75 281.25
Oats May 2020 282.25 282.25 282.25 4.50 277.75
Wheat Jul 2019 536.25 514.25 536.25 24.50 535.50
Wheat Sep 2019 523.00 500.25 521.50 16.75 522.25
Wheat Dec 2019 533.75 511.25 532.75 16.00 533.00
Wheat Mar 2020 545.75 524.25 544.75 15.25 545.00
Wheat May 2020 551.00 530.00 550.50 14.75 551.00
Spring Wheat Jul 2019 533.50 522.50 522.50 -4.25 522.50
Spring Wheat Sep 2019 544.75 524.25 539.00 10.25 539.00
Spring Wheat Dec 2019 557.25 538.00 552.75 10.75 552.75
Spring Wheat Mar 2020 571.25 552.75 566.25 9.25 566.25
Spring Wheat May 2020 578.50 561.00 576.00 10.25 576.00
Hard Red Wheat Jul 2019 461.25 439.00 461.25 20.00 439.00
Hard Red Wheat Sep 2019 462.50 435.25 461.50 20.00 462.00
Hard Red Wheat Dec 2019 482.00 456.25 481.25 18.75 481.75
Hard Red Wheat Mar 2020 501.25 476.75 500.25 17.25 500.75
Hard Red Wheat May 2020 513.50 490.75 513.00 16.50 513.25
Live Cattle (Pit) Aug 2019 107.88 107.88 107.88 0.25 107.88
Live Cattle (Pit) Oct 2019 109.33 109.33 109.33 0.35 109.33
Live Cattle (Pit) Dec 2019 113.78 113.78 113.78 0.30 113.78
Feeder Cattle (Pit) Aug 2019 142.63 142.63 142.63 0.28 142.63
Feeder Cattle (Pit) Sep 2019 143.28 143.28 143.28 0.43 143.28
Feeder Cattle (Pit) Oct 2019 143.43 143.43 143.43 0.60 143.43
Lean Hogs (Pit) Jul 2019 71.60 71.60 71.60 -0.15 71.60
Lean Hogs (Pit) Aug 2019 79.18 79.18 79.18 -2.55 79.18
Lean Hogs (Pit) Oct 2019 71.60 71.60 71.60 -1.65 71.60
Canadian Dollar Jul 2019 0.7667 0.7646 0.7647 -0.0005 0.7647
Crude Oil WTI Aug 2019 60.94 60.14 60.16 -0.27 60.16

Prices updated at 1:20PM(CST) on 7/11/2019