Monday was a yo-yo day in the crop futures markets, with crops such as canola first falling and then rising.
At the end of the day, canola prices were barely changed, revealing little of the day’s market volatility.
November canola futures closed at $557.70 per tonne, $1.80 above the Friday close. Overnight canola plunged to $547 in early trading, but then recovered to only slightly beneath the Friday close for a few hours, then strongly rallied to as high as $560, before settling back towards the close.
Tuesday Statistics Canada reports on Canadian seeded acreage.
Read Also

Pulse Weekly: AAFC revises data for largest pulse crops
As pulse crops across the country continue to develop, Agriculture and Agri-Food Canada updated its estimates for dry peas and lentils. AAFC issued its July supply and demand report on July 21.
Canola values are being helped by reports of mixed and non-optimal growing conditions in Western Canada, with the wild rains of the past week challenging crop prospects from Alberta to Manitoba.
Soybeans were strong Monday, supported by tight old crop stocks and the need to ration supply. Soybean oil lost money on the day.
Soft red winter and hard red winter wheat, as well as corn, were sharply down Monday. Corn is enjoying generally good growing weather and the winter wheat harvest has begun.
But hard red spring wheat suffered only small losses, as production challenges in spring wheat areas worried traders. USDA reports on seeded area on Friday and the data is expected to show North Dakota farmers unable to plant significant acreages.
In general, world markets were in a tizzy Monday, with a big sell-off in Chinese markets sparking sympathetic sell-offs in most world equity markets. Independently, the central banks of China and the United States are talking about tightening the money supply
As the day wore on, optimism returned to the markets, pushing stock prices higher and recovering much of the early losses.
The Dow Jones Industrial Average fell almost 250 points at the open but crawled back to end the day within 75 points of the Friday close.
Crude oil was early in the red, but ended up slightly higher on the day, in contrast to most commodities, which like most crops ended up moderately weaker.
Winnipeg ICE Futures Canada dollars per tonne
Canola Jul 2013 606.40 +0.70 +0.12%
Canola Nov 2013 557.70 +1.80 +0.32%
Canola Jan 2014 561.60 +1.50 +0.27%
Canola Mar 2014 560.00 +0.90 +0.16%
Canola May 2014 557.50 +1.00 +0.18%
Milling Wheat Jul 2013 294.00 unch 0.00%
Milling Wheat Oct 2013 294.00 unch 0.00%
Milling Wheat Dec 2013 294.00 unch 0.00%
Durum Wheat Jul 2013 301.90 unch 0.00%
Durum Wheat Oct 2013 294.90 unch 0.00%
Durum Wheat Dec 2013 299.40 unch 0.00%
Barley Jul 2013 244.00 unch 0.00%
Barley Oct 2013 194.00 unch 0.00%
Barley Dec 2013 199.00 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 2013 1512 +18.75 +1.26%
Soybeans Aug 2013 1421.25 +7.5 +0.53%
Soybeans Sep 2013 1316.75 +1 +0.08%
Soybeans Nov 2013 1273.5 unch 0.00%
Soybeans Jan 2014 1276.75 +0.25 +0.02%
Soybeans Mar 2014 1276.5 +3.25 +0.26%
Soybean Meal Jul 2013 451 +3.3 +0.74%
Soybean Meal Aug 2013 422.6 +3 +0.71%
Soybean Meal Sep 2013 399 +1.1 +0.28%
Soybean Oil Jul 2013 47.55 -0.47 -0.98%
Soybean Oil Aug 2013 47.54 -0.43 -0.90%
Soybean Oil Sep 2013 47.16 -0.4 -0.84%
Corn Jul 2013 653.25 -8.5 -1.28%
Corn Sep 2013 579 -13 -2.20%
Corn Dec 2013 546.5 -9.75 -1.75%
Corn Mar 2014 557 -10 -1.76%
Corn May 2014 564.25 -9.5 -1.66%
Oats Jul 2013 392.25 -3.25 -0.82%
Oats Sep 2013 382.75 -5 -1.29%
Oats Dec 2013 376.25 -7.75 -2.02%
Oats Mar 2014 379.25 -8.25 -2.13%
Oats May 2014 381.5 -8.25 -2.12%
Wheat Jul 2013 679 -19 -2.72%
Wheat Sep 2013 687.75 -17.25 -2.45%
Wheat Dec 2013 702 -15 -2.09%
Wheat Mar 2014 716.25 -14.75 -2.02%
Wheat May 2014 725.25 -14.75 -1.99%
Minneapolis
Spring Wheat Jul 2013 811.25 -2.75 -0.34%
Spring Wheat Sep 2013 785.25 -6.25 -0.79%
Spring Wheat Dec 2013 793.75 -6.25 -0.78%
Spring Wheat Mar 2014 808 -5 -0.62%
Spring Wheat May 2014 814 -5.5 -0.67%
Kansas City
KCBT Red Wheat Jul 2013 715.25 -21.25 -2.89%
KCBT Red Wheat Sep 2013 719 -17 -2.31%
KCBT Red Wheat Dec 2013 737 -13.5 -1.80%
KCBT Red Wheat Mar 2014 750.5 -12.75 -1.67%
KCBT Red Wheat May 2014 754.5 -16 -2.08%
Light crude oil nearby futures in New York rose $1.49 at $95.18 US per barrel.
The Canadian dollar at noon was 94.95 cents US, down from 95.51 cents the previous trading day. The U.S. dollar at noon was $1.0532 Cdn.