Glacier FarmMedia COVID-19 & the Farm

Experts

 

Overnight Trade

Overnight Trade

Minneapolis Canola
US $ per bushel C$ per tonne
Jul 7.66 0.9% Jul 870.60 0.8%
Sept 7.68 0.8% Nov 713.60 0.5%
Kansas City Soybeans
US$ per bushel
Jul 6.94 0.7% Jul 15.37 0.9%
Sept 6.99 0.8% Nov 13.55 0.7%
Chicago Dollar
US $ per bushel U.S. cents per C$
Jul 7.22 0.5% Jun 81.21 -0.3%
Sept 7.22 0.6% Sep 81.16 -0.4%
Corn Crude Oil
US $ per bushel WTI US$ per barrel
Jul 6.89 1.4% Jun 65.39 1.4%
Sept 5.98 1.1% Jul 65.30 1.4%

Equity markets are expected to open lower this morning as markets are taking a breather after pushing up against market highs. The U.S. dollar continues to move lower this morning, but the loonie is also under some pressure. Nearby Canadian dollar futures are trading down 0.3 per cent this morning with the June contract at 81.21 U.S. cents.  Crude oil is staging a rally this morning with nearby futures up 1.4 per cent at US$65.39 U.S. cents.

Canola futures are higher this morning as July futures traded at C$870.60 per tonne. Support is coming from the soybean market which is up 10 to 13 cents per bushel in nearby contracts. Soybean oil futures are up 1.0 to 1.15 per cent in early morning trade, which is also supporting canola futures.

Wheat markets moved higher this morning with spring wheat leading the way with nearby contracts up six to seven cents per bushel. Kansas City futures are up five to six cents per bushel, while Chicago wheat contracts are four to five cents per bushel higher. Corn futures are up six to nine cents per bushel in early morning trade. There were no export sales reported by USDA this morning.