May canola rose 0.15 percent on week, wheat fell 2.5 percent

Canola settled lower on Friday, fighting headwinds from a stronger loony and weaker soy oil.

But on the week, canola contracts made modest gains.

May canola settled at $454.20 per tonne, a gain of 70 cents on the week, and November settled at $480.20, up $1.50 from the previous Friday.

Increased farmer deliveries also weighed on canola today.

Soy oil retreated after having trouble breaking through the 200-day moving average.

Wheat fell again and the Chicago contract set a three-week low on a forecast for rain in the dry southern U.S. plains.

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Over the week, Minneapolis May wheat fell 2.5 percent.

The rain over the next few days is expected to be light, but a storm forecast for later next week is forecast to deliver more moisture.

Corn climbed on Friday, supported by concerns about the slow start to seeding in the U.S. Midwest.

On the week, May corn rose two percent.

Soybeans were mixed on Friday with old crop down a little and new crop stronger.

May soybeans closed the week up 1.9 percent on concerns about tight stocks in the U.S.

The market anticipates next week’s regular monthly USDA supply and demand report. One question to be answer is whether the department will trim its year end soybean stocks forecast. The report comes out Wednesday.

Winnipeg ICE Futures Canada dollars per tonne

Canola May 2014 454.20 -4.80 -1.05%

Canola Jul 2014 464.40 -4.60 -0.98%

Canola Nov 2014 480.20 -4.00 -0.83%

Canola Jan 2015 487.50 -4.00 -0.81%

Canola Mar 2015 494.60 -3.80 -0.76%

Milling Wheat May 2014 215.00 -3.00 -1.38%

Milling Wheat Jul 2014 213.00 -3.00 -1.39%

Milling Wheat Oct 2014 216.00 -2.00 -0.92%

Durum Wheat May 2014 250.00 unch 0.00%

Durum Wheat Jul 2014 250.00 unch 0.00%

Durum Wheat Oct 2014 252.00 unch 0.00%

Barley May 2014 130.50 unch 0.00%

Barley Jul 2014 128.50 unch 0.00%

Barley Oct 2014 128.50 unch 0.00%

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

Chicago

Soybeans May 2014 1473.75 -1.5 -0.10%

Soybeans Jul 2014 1455 +0.75 +0.05%

Soybeans Aug 2014 1374.5 +1.25 +0.09%

Soybeans Sep 2014 1257 +1.75 +0.14%

Soybeans Nov 2014 1208.5 +5 +0.42%

Soybeans Jan 2015 1213.25 +5 +0.41%

Soybean Meal May 2014 479.1 -1 -0.21%

Soybean Meal Jul 2014 466.9 -0.4 -0.09%

Soybean Meal Aug 2014 437.4 +0.3 +0.07%

Soybean Oil May 2014 41.57 -0.1 -0.24%

Soybean Oil Jul 2014 41.77 -0.11 -0.26%

Soybean Oil Aug 2014 41.55 -0.05 -0.12%

Corn May 2014 501.75 +1.75 +0.35%

Corn Jul 2014 507.5 +2.25 +0.45%

Corn Sep 2014 507 +4.25 +0.85%

Corn Dec 2014 506.75 +5.25 +1.05%

Corn Mar 2015 513 +4.75 +0.93%

Oats May 2014 410.75 -4 -0.96%

Oats Jul 2014 365.5 -4.25 -1.15%

Oats Sep 2014 354.25 -1.5 -0.42%

Oats Dec 2014 346 -4.25 -1.21%

Oats Mar 2015 344.5 -3.25 -0.93%

Wheat May 2014 669.75 -6.25 -0.92%

Wheat Jul 2014 676.5 -5.25 -0.77%

Wheat Sep 2014 685.25 -5 -0.72%

Wheat Dec 2014 698.25 -4.25 -0.60%

Wheat Mar 2015 709 -3.25 -0.46%

Minneapolis

Spring Wheat May 2014 721.5 -9 -1.23%

Spring Wheat Jul 2014 721.5 -8.75 -1.20%

Spring Wheat Sep 2014 726.25 -7.25 -0.99%

Spring Wheat Dec 2014 736.25 -7.25 -0.98%

Spring Wheat Mar 2015 743 -6.25 -0.83%

Kansas City

KC HRW Wheat May 2014 733.75 -10.25 -1.38%

KC HRW Wheat Jul 2014 738.5 -9.25 -1.24%

KC HRW Wheat Sep 2014 744.5 -10 -1.33%

KC HRW Wheat Dec 2014 755 -9.75 -1.27%

KC HRW Wheat Mar 2015 759.25 -9 -1.17%

Light crude oil nearby futures in New York rose 85 cents at $101.14 US per barrel.

The Canadian dollar at noon was 91.09 cents US, up from 90.62 cents the previous trading day. The U.S. dollar at noon was $1.0978 Cdn.

The Canadian economy added 42,900 jobs in March, stronger than expected, and the unemployment rate droped by 0.1 percentage point to 6.9 percent.

The news supported the loonie.

The American economy generated 192,000 jobs last month, on par with the expected number. The unemployment rate was unchanged at 6.7 percent.

Toronto Stock Exchange’s S&P/TSX composite index closed down 9.11 points, or 0.06 percent, at 14,393.10. It recorded a weekly gain of 0.9 percent and has added about 5.7 percent in 2014.

It recorded a weekly gain of 0.9 percent and has added about 5.7 percent in 2014.

The Dow Jones industrial average today fell 159.84 points or 0.96 percent, to close at 16,412.71.

The S&P 500 lost 23.68 points or 1.25 percent, to finish at 1,865.09.

The Nasdaq Composite had a rough day on falling Netflix and TripAdvisor, ending at 4,127.726, down 110.014 points or 2.6 percent, its worst daily percentage loss since February.

For the week, the Dow rose 0.6 percent and the S&P 500 gained 0.4 percent, while the Nasdaq fell 0.7 percent.