Crop futures little changed Wednesday

As the grain markets continue to stumble their way forward without much of the usual U.S. Department of Agriculture data, a strange stillness prevails.

Crop futures prices were little changed Wednesday, with slight losses and slight gains seen in all major crops.

Both canola and spring wheat futures closed slightly lower Wednesday, but not significantly.

Traders and analysts have hotly debated the likely impact of the dearth of USDA data, with many expecting increased volatility but some predicting a settling down.

Those expecting more volatility tend to believe the lack of official government data will make traders rely heavily upon less-grounded private industry research, which will likely differ substantially between different providers, offering chances for the market to leap and slump as the numbers suggest contrasting underlying realities.

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Those expecting an evening out of volatility generally expect to see speculators avoid the grains sector and pull back, not having their usual analytical tools available. They think farm hedgers and commercial grain companies and processors are less likely to drive sudden increased volumes in trading as speculators have achieved in recent years, so market moves may be restrained.

No large weather events have hit Prairie or Midwest crop regions, so decent weather is allowing crops to be harvested and delivered, providing a slightly bearish influence.

However, good sales and exports of crops have kept hopes alive that the giant crops now being harvested can be sold and shipped to hungry mouths around the world.

Stock markets were mixed Wednesday, with investors momentarily relieved from worrying about the U.S. government shutdown and looming debt default by the beginning of earnings season.

Mixed corporate results led to mixed market moves, with many stocks moving through the day between slight gains and losses.

Winnipeg ICE Futures Canada dollars per tonne

Canola Nov 2013    482.20    -0.80    -0.17%
Canola Jan 2014    491.80    -0.90    -0.18%
Canola Mar 2014    498.90    -1.30    -0.26%
Canola May 2014    504.80    -1.50    -0.30%
Canola Jul 2014    509.60    -1.70    -0.33%

Milling Wheat Oct 2013    237.00    unch    0.00%
Milling Wheat Dec 2013    241.00    unch    0.00%
Milling Wheat Mar 2014    247.00    unch    0.00%

Durum Wheat Oct 2013    243.00    unch    0.00%
Durum Wheat Dec 2013    247.00    unch    0.00%
Durum Wheat Mar 2014    253.00    unch    0.00%

Barley Oct 2013    149.00    unch    0.00%
Barley Dec 2013    152.00    unch    0.00%
Barley Mar 2014    154.00    unch    0.00%

American crop prices in cents US/bushel, soybean meal in $US/short ton, soy oil in cents US/pound

Chicago
Soybeans Nov 2013    1287.75    -1    -0.08%
Soybeans Jan 2014    1284    -3.75    -0.29%
Soybeans Mar 2014    1269    -6.75    -0.53%
Soybeans May 2014    1250.5    -5.75    -0.46%
Soybeans Jul 2014    1247.5    -5    -0.40%
Soybeans Aug 2014    1236.5    -4.75    -0.38%

Soybean Meal Oct 2013    425.2    -3.5    -0.82%
Soybean Meal Dec 2013    411.7    -3.2    -0.77%
Soybean Meal Jan 2014    407.1    -3.9    -0.95%

Soybean Oil Oct 2013    40.55    +0.35    +0.87%
Soybean Oil Dec 2013    40.67    +0.24    +0.59%
Soybean Oil Jan 2014    40.98    +0.23    +0.56%

Corn Dec 2013    443.5    +1.75    +0.40%
Corn Mar 2014    456.25    +1.75    +0.39%
Corn May 2014    464.75    +2    +0.43%
Corn Jul 2014    472.25    +2.25    +0.48%
Corn Sep 2014    478    +2.75    +0.58%

Oats Dec 2013    318    +1.25    +0.39%
Oats Mar 2014    303.75    +0.75    +0.25%
Oats May 2014    301    +0.5    +0.17%
Oats Jul 2014    294.75    +0.25    +0.08%
Oats Sep 2014    295.25    unch    0.00%

Wheat Dec 2013    690.5    -3    -0.43%
Wheat Mar 2014    700.5    -3    -0.43%
Wheat May 2014    705    -3.5    -0.49%
Wheat Jul 2014    698.25    -2    -0.29%
Wheat Sep 2014    703    -2.25    -0.32%

Minneapolis
Spring Wheat Dec 2013    753    -0.25    -0.03%
Spring Wheat Mar 2014    762    -0.25    -0.03%
Spring Wheat May 2014    766.25    unch    0.00%
Spring Wheat Jul 2014    767.25    +0.25    +0.03%
Spring Wheat Sep 2014    767.75    +0.25    +0.03%

Kansas City
KCBT Red Wheat Dec 2013    759    -1.5    -0.20%
KCBT Red Wheat Mar 2014    758    -1    -0.13%

KCBT Red Wheat May 2014    757.75    -0.5    -0.07%
KCBT Red Wheat Jul 2014    742.5    +0.5    +0.07%
KCBT Red Wheat Sep 2014    749.25    -0.75    -0.10%

Light crude oil nearby futures in New York dropped $1.88 at $101.61 US per barrel.
The Canadian dollar at noon was 96.18 cents US, down from 96.80 cents the previous trading day. The U.S. dollar at noon was $1.0397 Cdn.