Old crop canola and soybeans rose Thursday but new crop months were lower.
Tight old crop stocks are supporting the nearby contract, but generally good growing weather is weighing on new crop. The forecast for the Prairies has turned dry and sunny, which should spur crop development after all the rain in many areas in the past couple of weeks.
Falling soy oil prices also pressured canola.
The Saskatchewan Agriculture crop report said 51 percent of oilseed crops are at normal stage of development and 48 percent is behind normal development. Across the province, topsoil moisture on cropland is rated as 30 percent surplus, 68 percent adequate and two percent short.
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Traders were adjusting positions in advance of the U.S. Department of Agriculture reports on seeded acreage and grain stocks due Friday morning.
The advancing U.S. winter wheat crop harvest, and reports of better than expected yields, weighed on Chicago and Kansas City wheat prices. New crop Minneapolis spring wheat was up a little on expectations that USDA will show a drop North Dakota wheat acreage from earlier reports.
Winnipeg ICE Futures Canada in $Cdn per tonne
Canola Jul 2013Â Â Â Â Â Â 619.50Â Â Â Â Â Â +6.40Â Â Â Â Â Â +1.04%
Canola Nov 2013Â Â Â Â Â Â 541.60Â Â Â Â Â Â -2.30Â Â Â Â Â Â -0.42%
Canola Jan 2014Â Â Â Â Â Â 546.20Â Â Â Â Â Â -2.30Â Â Â Â Â Â -0.42%
Canola Mar 2014Â Â Â Â Â Â 546.70Â Â Â Â Â Â -1.50Â Â Â Â Â Â -0.27%
Canola May 2014Â Â Â Â Â Â 544.40Â Â Â Â Â Â -1.50Â Â Â Â Â Â -0.27%
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%
U.S. crops in cents US per bushel, soy meal in $US per short ton, soy oil in cents US per pound
Chicago
Soybeans Jul 2013Â Â Â Â Â Â 1548.5Â Â Â Â Â Â +14.25Â Â Â Â Â Â +0.93%
Soybeans Aug 2013Â Â Â Â Â Â 1432.5Â Â Â Â Â Â +7.25Â Â Â Â Â Â +0.51%
Soybeans Sep 2013Â Â Â Â Â Â 1317.75Â Â Â Â Â Â +0.75Â Â Â Â Â Â +0.06%
Soybeans Nov 2013Â Â Â Â Â Â 1275.25Â Â Â Â Â Â -0.75Â Â Â Â Â Â -0.06%
Soybeans Jan 2014Â Â Â Â Â Â 1278.5Â Â Â Â Â Â -0.5Â Â Â Â Â Â -0.04%
Soybeans Mar 2014Â Â Â Â Â Â 1274Â Â Â Â Â Â -0.75Â Â Â Â Â Â -0.06%
Soybean Meal Jul 2013Â Â Â Â Â Â 479.6Â Â Â Â Â Â +16.3Â Â Â Â Â Â +3.52%
Soybean Meal Aug 2013Â Â Â Â Â Â 435.2Â Â Â Â Â Â +4.4Â Â Â Â Â Â +1.02%
Soybean Meal Sep 2013Â Â Â Â Â Â 406.9Â Â Â Â Â Â +2.6Â Â Â Â Â Â +0.64%
Soybean Oil Jul 2013Â Â Â Â Â Â 46.4Â Â Â Â Â Â -0.23Â Â Â Â Â Â -0.49%
Soybean Oil Aug 2013Â Â Â Â Â Â 46.35Â Â Â Â Â Â -0.27Â Â Â Â Â Â -0.58%
Soybean Oil Sep 2013Â Â Â Â Â Â 45.97Â Â Â Â Â Â -0.28Â Â Â Â Â Â -0.61%
Corn Jul 2013Â Â Â Â Â Â 667.25Â Â Â Â Â Â +2.75Â Â Â Â Â Â +0.41%
Corn Sep 2013Â Â Â Â Â Â 572.25Â Â Â Â Â Â -1.75Â Â Â Â Â Â -0.30%
Corn Dec 2013Â Â Â Â Â Â 538.5Â Â Â Â Â Â -5.5Â Â Â Â Â Â -1.01%
Corn Mar 2014Â Â Â Â Â Â 549.25Â Â Â Â Â Â -5Â Â Â Â Â Â -0.90%
Corn May 2014Â Â Â Â Â Â 556.25Â Â Â Â Â Â -5Â Â Â Â Â Â -0.89%
Oats Jul 2013Â Â Â Â Â Â 385.25Â Â Â Â Â Â +1.5Â Â Â Â Â Â +0.39%
Oats Sep 2013Â Â Â Â Â Â 378.25Â Â Â Â Â Â +3.5Â Â Â Â Â Â +0.93%
Oats Dec 2013Â Â Â Â Â Â 374.25Â Â Â Â Â Â +3.75Â Â Â Â Â Â +1.01%
Oats Mar 2014Â Â Â Â Â Â 377.25Â Â Â Â Â Â +3.5Â Â Â Â Â Â +0.94%
Oats May 2014Â Â Â Â Â Â 379.5Â Â Â Â Â Â +3.5Â Â Â Â Â Â +0.93%
Wheat Jul 2013Â Â Â Â Â Â 663.5Â Â Â Â Â Â -3.5Â Â Â Â Â Â -0.52%
Wheat Sep 2013Â Â Â Â Â Â 673.75Â Â Â Â Â Â -3.25Â Â Â Â Â Â -0.48%
Wheat Dec 2013Â Â Â Â Â Â 689Â Â Â Â Â Â -3.25Â Â Â Â Â Â -0.47%
Wheat Mar 2014Â Â Â Â Â Â 703Â Â Â Â Â Â -3.5Â Â Â Â Â Â -0.50%
Wheat May 2014Â Â Â Â Â Â 712.25Â Â Â Â Â Â -3.75Â Â Â Â Â Â -0.52%
Minneapolis
Spring Wheat Jul 2013Â Â Â Â Â Â 786.5Â Â Â Â Â Â -12.5Â Â Â Â Â Â -1.56%
Spring Wheat Sep 2013Â Â Â Â Â Â 783Â Â Â Â Â Â +0.5Â Â Â Â Â Â +0.06%
Spring Wheat Dec 2013Â Â Â Â Â Â 791.25Â Â Â Â Â Â +1Â Â Â Â Â Â +0.13%
Spring Wheat Mar 2014Â Â Â Â Â Â 804.75Â Â Â Â Â Â +1.25Â Â Â Â Â Â +0.16%
Spring Wheat May 2014Â Â Â Â Â Â 810.75Â Â Â Â Â Â +1.75Â Â Â Â Â Â +0.22%
Kansas City
KCBT Red Wheat Jul 2013Â Â Â Â Â Â 686.5Â Â Â Â Â Â -7.75Â Â Â Â Â Â -1.12%
KCBT Red Wheat Sep 2013Â Â Â Â Â Â 702Â Â Â Â Â Â -4Â Â Â Â Â Â -0.57%
KCBT Red Wheat Dec 2013Â Â Â Â Â Â 722.75Â Â Â Â Â Â -4.25Â Â Â Â Â Â -0.58%
KCBT Red Wheat Mar 2014Â Â Â Â Â Â 737Â Â Â Â Â Â -4.75Â Â Â Â Â Â -0.64%
KCBT Red Wheat May 2014Â Â Â Â Â Â 746Â Â Â Â Â Â -4.5Â Â Â Â Â Â -0.60%
The Bank of Canada noon rate for the loonie was 95.42 cents US, down from 95.52 on Wednesday. The U.S. buck was $1.0480 Cdn.
Nearby crude oil in New York rose $1.55 to $97.05.
Concerns about the Federal Reserve monetary policy continued to fade into the background. Heads of regional Federal Reserves made comments emphasizing that the cut back in the bond buying program would depend on the state of the economy and employment, not certain dates on a calendar.
A couple of U.S. economic reports were positive. U.S. consumer spending rebounded in May and new applications for unemployment benefits fell last week.
U.S. stocks were up for a third day and the TSX composite was regaining ground lost yesterday.
