North American Grains and Oilseed Review: Canola and soy rebound

By Ashley Robinson, Commodity News Service Canada
Winnipeg, Nov. 27 (CNS Canada) – The ICE Futures canola platform were stronger at market close, rebounding after Monday’s losses.
Chicago Board of Trade soybean, oil and meal contracts all finished the day in green too, regaining after yesterday’s sharp declines.
While canola regained some of its losses, the technical bias is still pointed lower overall.
Oilseed traders are still awaiting Friday’s G20 meeting between United States President Donald Trump and Chinese President Xi Jinping. The outlook for the meeting isn’t looking good though as Trump said yesterday that he’s probably going to place more tariffs on China.

North American grain/oilseed review: Canola ends lower after choppy day

Glacier FarmMedia — The ICE Futures canola market was weaker on Monday, settling below nearby chart support after trading to…

The Canadian dollar was weaker at the canola market close, which was supportive for canola contracts.
About 20,796 canola contracts traded, which compares with Monday when about 12,000 contracts changed hands. Spreading accounted for 13,912 of the contracts traded.
In the U.S. Monday marked the last U.S. Department of Agriculture (USDA) weekly crop progress report of the year. The U.S. soybean harvest was pegged at 94 per cent complete, which is slightly behind of the five-average of 96 per cent.
USDA weekly export inspections for soybeans totaled 40.6 million bushels last week.
CBOT corn prices finished the day mixed, with most contracts unchanged.

Yesterday’s crop report from the USDA pegged the corn harvest at 94 per cent done, which is behind the five-year average of 98 per cent. Progress is still the slowest in North Dakota and is behind average in 11 of the 18 states surveyed.
USDA weekly export inspections for corn were at 43.9 million bushels.
Wheat futures in the U.S. finished the day weaker.
The U.S. winter wheat crop is 95 per cent seeded, which is behind the five-year average of 99 per cent. Emergence is at 86 per cent compared to the average of 92 per cent. Winter wheat ratings declined by one point this week to 55 per cent good to excellent.
It is likely that some intended winter wheat will ended up unseeded due to snow in the U.S. Midwest.
USDA weekly export inspections for wheat fell to 9.2 million bushels, which was well off the pace of the past few weeks.
Jordan has a tender out for 120,000 tonnes of wheat. Turkey and Tunisia have both bought wheat in recent tenders.