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IKAR in Mass MediaCanola futures dip on mostly good weather22 июля 2016 года Crop futures calmed a little on Thursday, with most markets moving less than one percent. November canola edged down 80 cents a tonne, even though soybeans and soy oil edged slightly higher. After a sharp sell off of more than five percent combined on Tuesday and Wednesday, corn stabilized today, edging down only 3.5 cents a bushel. The weekly U.S. export report showed corn sales were below expectations but soybean sales topped the outlook. The intense heat in the U.S. Plains and Midwest ends this weekend and temperature highs next week moderate to the seasonal norm of about 30 C after being up in the mid to high 30s this week. The trade expects the heat wave this week will do little serious crop damage because the Midwest went into the system with good soil moisture. In Western Canada, the warmer weather without wide spread rain is welcome, although day time heating with humid conditions is sparking local intense thunder storms that are generating hail and in some cases tornadoes. Temperatures on the Canadian Prairies next week are expected to remain seasonal in the mid-to-upper 20s C. Chicago wheat edged higher on bargain buying and short covering. Weekly U.S. wheat export sales were in line with expectations. In wheat supply and demand news, Russia is expected to harvest 68 million tonnes of wheat this year, agriculture consultancy IKAR said, raising its earlier crop estimate by two million tonnes. Russia, a major wheat exporter, has already harvested 25.1 million tonnes of wheat from 21 percent of the area, yields are so far higher than a year ago, Reuters reported. The wheat situation in France is looking worse as the combines roll. Excess rain during the latter stages of crop growth have hurt quality and yields and the trade is lowering its crop size estimates. “It is a three-fold punishment for farmers — small crop, poor quality and low prices,” a Euronext trader told Reuters. “It’s worse than expected,” a trader said. “If we continue like this we could be at minus 25 percent (from last year’s crop)”. France harvested a record crop of 41 million tonnes last year. The harvest is just beginning in southern Germany where rain has also been an issue for crop quality, the trader said. “The big question is how the bad weather this summer has damaged yields and quality,” the trader said. “The first results do not necessarily give a real indication and we might have to wait another week or longer before people can start making a quality assessment.” Another issue that could affect corn prices if the situation drags on is a truckers strike in Argentina. It is in its fourth day. Corn supplies at port are getting tight and ship loading will be delayed if the disruption continues. Soybeans are in better supply at port. The truckers want a 31 percent increase in fees. Farm groups and the government, which sets hauling rates, met in Buenos Aires today to draw up a counter-offer. Light crude oil nearby futures in New York were down $1 to US$44.75 per barrel. The Canadian dollar at noon was US76.59 cents, down from 76.69 cents the previous trading day. The U.S. dollar at noon was C$1.3057. The Toronto Stock Exchange’s S&P/TSX composite index ended up 32.26 points, or 0.22 percent, at 14,565.83. U.S. stock markets took a breather today after major indexes hit record highs this week. Some companies today posted disappointing quarterly profit reports. The Dow Jones industrial average unofficially closed down 77.8 points, or 0.42 percent, at 18,517.23, the S&P 500 ended 7.85 points, or 0.36 percent, lower at 2,165.17 and the Nasdaq Composite finished down 16.03 points, or 0.31 percent, to 5,073.90. Winnipeg ICE Futures Canada dollars per tonne Canola Nov 2016 462.60 -0.80 -0.17% Milling Wheat Oct 2016 205.00 +1.00 +0.49% Durum Wheat Oct 2016 267.00 -3.00 -1.11% Barley Oct 2016 150.00 unch 0.00% American crop prices in cents US/bushel, soybean meal in $US/short ton, soy oil in cents US/pound Chicago Soybeans Aug 2016 1032.50 +5.50 +0.54% Soybean Meal Aug 2016 352.50 +0.10 +0.03% Soybean Oil Aug 2016 31.06 +0.35 +1.14% Corn Sep 2016 334.25 -3.25 -0.96% Oats Sep 2016 207.75 +2.00 +0.97% Wheat Sep 2016 417.75 +4.75 +1.15% Minneapolis Spring Wheat Sep 2016 486.25 +1.25 +0.26% Kansas City Hard Red Wheat Sep 2016 407.50 +0.75 +0.18% Chicago livestock futures in US¢/pound Live Cattle (P) Aug 2016 107.52 -1.91 -1.75% Feeder Cattle (P) Aug 2016 134.40 -4.22 -3.04% Lean Hogs (P) Aug 2016 74.45 -1.75 -2.30% Source: Producer.com | #grain #oilseeds | Comments: 0 Views: 125
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