Canola futures barely changed on Tuesday while U.S. crop futures were mostly lower.
July Chicago wheat fell 3.5 percent, corn was down about two percent and soybeans down 0.74 percent.
New crop December contracts were down a little less.
Canola got support from rising soy oil, which climbed about one percent.
A lot of rain fell in south central and southeastern Saskatchewan and into southwestern Manitoba yesterday. Much of North Dakota also got good rain.
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The rain continues in Manitoba today and another shot of rain is expected in western Manitoba on Thursday night to Friday night
U.S. wheat futures were the hardest hit today following weather forecasts that indicate that it will get drier by the weekend, allowing the resumption of the winter wheat harvest. Rain in U.S. spring wheat areas supported ideas of good yield prospects.
Parts of western Europe had heavy rain over the weekend, raising worries of quality downgrades in winter wheat.
Weather has turned sunny and dry in Argentina, allowing more rapid harvest of the soybean crop that was damaged by heavy rain in April.
The USDA today said the corn crop was 94 percent planted (versus 92 percent five-year average) and is 72 percent good to excellent
Soybean seeding advanced to 73 percent, ahead of the five-year average of 66 percent.
Winter wheat is 84 percent heading, ahead of the five-year average of 76 percent.
The condition of the winter wheat crop is 63 percent good to excellent, up from 62 percent the week before and 44 percent last year at the same time.
The spring wheat crop is 88 percent emerged, ahead of average of 66 percent.
The condition of the spring wheat crop is 79 percent good to excellent, up from 76 percent the week before and 71 percent last year.
Light crude oil nearby futures in New York were down 23 cents to US$49.10 per barrel.
The Canadian dollar at noon was US76.34 cents, down 0.22 from 76.56 cents the previous trading day. The U.S. dollar at noon was C$1.3100.
Winnipeg ICE Futures Canada dollars per tonne
Canola Jul 2016 510.40 -1.70 -0.33%
Canola Nov 2016 517.00 +0.20 +0.04%
Canola Jan 2017 520.30 unch 0.00%
Canola May 2017 522.70 +0.10 +0.02%
Milling Wheat Jul 2016 236.00 -2.00 -0.84%
Milling Wheat Oct 2016 232.00 -2.00 -0.85%
Milling Wheat Dec 2016 237.00 -2.00 -0.84%
Durum Wheat Jul 2016 304.00 -3.00 -0.98%
Durum Wheat Oct 2016 296.00 -1.00 -0.34%
Durum Wheat Dec 2016 298.00 -1.00 -0.33%
Barley Jul 2016 171.00 unch 0.00%
Barley Oct 2016 171.00 unch 0.00%
Barley Dec 2016 171.00 unch 0.00%
American crop prices in cents US/bushel, soybean meal in $US/short ton, soy oil in cents US/pound
Chicago
Soybeans Jul 2016 1078.5 -8 -0.74%
Soybeans Aug 2016 1076.5 -6.5 -0.60%
Soybeans Sep 2016 1064.25 -3.25 -0.30%
Soybeans Nov 2016 1055.75 -0.5 -0.05%
Soybeans Jan 2017 1053 -1 -0.09%
Soybeans Mar 2017 1031.25 +0.75 +0.07%
Soybean Meal Jul 2016 396.6 -6 -1.49%
Soybean Meal Aug 2016 385.3 -3.4 -0.87%
Soybean Meal Sep 2016 378.7 -2.4 -0.63%
Soybean Oil Jul 2016 31.82 +0.34 +1.08%
Soybean Oil Aug 2016 31.94 +0.33 +1.04%
Soybean Oil Sep 2016 32.05 +0.31 +0.98%
Corn Jul 2016 404.75 -8 -1.94%
Corn Dec 2016 408.5 -5 -1.21%
Corn Mar 2017 415.25 -4.75 -1.13%
Corn May 2017 418.75 -5 -1.18%
Oats Jul 2016 189 -4 -2.07%
Oats Sep 2016 201.5 -3.75 -1.83%
Oats Dec 2016 213.25 -2.25 -1.04%
Oats Mar 2017 222.5 -2.25 -1.00%
Oats May 2017 222.5 -2.25 -1.00%
Wheat Jul 2016 464.5 -17 -3.53%
Wheat Sep 2016 475.5 -16.25 -3.30%
Wheat Dec 2016 493.5 -14.75 -2.90%
Wheat Mar 2017 510.75 -12.75 -2.44%
Wheat May 2017 521.25 -12.5 -2.34%
Minneapolis
Spring Wheat Jul 2016 520.25 -7.75 -1.47%
Spring Wheat Sep 2016 528.5 -7 -1.31%
Spring Wheat Dec 2016 542.25 -7 -1.27%
Spring Wheat Mar 2017 554.75 -7.25 -1.29%
Spring Wheat May 2017 561.75 -7.5 -1.32%
Kansas
Hard Red Wheat Jul 2016 447.25 -12.5 -2.72%
Hard Red Wheat Sep 2016 463.75 -12 -2.52%
Hard Red Wheat Dec 2016 487.25 -11.25 -2.26%
Hard Red Wheat Mar 2017 503.75 -11 -2.14%
Hard Red Wheat May 2017 513.75 -11 -2.10%
