Glacier FarmMedia COVID-19 & the Farm

Experts

 

Overnight Trade

Overnight Trade

Minneapolis Canola
US $ per bushel C$ per tonne
Jul 7.56 1.0% Jul 859.10 2.3%
Sept 7.63 1.1% Nov 705.00 0.9%
Kansas City Soybeans
US$ per bushel
Jul 7.22 1.8% Jul 15.46 0.4%
Sept 7.26 1.8% Nov 13.59 -0.2%
Chicago Dollar
US $ per bushel U.S. cents per C$
Jul 7.46 0.8% Jun 80.66 0.0%
Sept 7.44 0.7% Sep 80.65 0.0%
Corn Crude Oil
US $ per bushel WTI US$ per barrel
Jul 6.63 0.8% Jun 62.64 1.2%
Sept 5.92 -0.1% Jul 62.49 1.1%

The equity markets continue to bounce around levels below the all-time highs, which has resulted in a daily dance of mixed market calls. Earnings season is underway and stocks are being rewarded for exceeding expectations and punished for missing them. So far there have been slightly more rewards than punishments. The Canadian dollar is trading sideways this morning with the nearby Canadian dollar futures trading at 80.66 U.S. cents. Crude oil is positive this morning with nearby futures trading at US$62.64 per barrel.

Canola markets are taking the Statistics Canada report in stride with new crop futures up modestly in early morning trade. The July contract was very strong in the overnight trading session and is currently at C$859.10 per tonne. Soybean futures are providing support for canola with nearby futures up six to seven cents per bushel. Soybean oil futures are also strong this morning with nearby contracts up two to three per cent.

Wheat markets were sharply higher overnight, but have weakened in early morning trade to post only modest gains. Spring wheat futures are up seven to eight cents per bushel this morning, while Chicago wheat contracts are up five to six cents per bushel. Kansas City futures are leading the way with nearby contracts up 12 to 13 cents per bushel. Corn futures are mixed this morning with nearby futures up five cents per bushel, but deferred contracts mostly unchanged.