November canola closed unchanged on Wednesday and deferred months were down a few cents a tonne.
Volume was light with little news to trade on.
The Prairies are blanketed under warm air for the next several days. The Alberta-Montana order area could get a little rain on Friday and the moisture could move into southern Saskatchewan on the weekend.
Most areas need moisture to help fill grain.
November soybeans fell 1.2 percent on lingering pressure from a slightly bearish USDA report on Tuesday and forecast for rain in the Midwest.
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Still many believe USDA will increase its production forecast in coming reports.
The drought in central China is not expected to significantly dent China’s corn production. Acreage was up this year and also the country has massive corn stocks from previous years.
The China National Grain and Oils Information Centre forecast the crop at 222.3 million tonnes, up 1.7 percent from last year. The drought region recently got rain, Reuters reported.
Wheat fell on prospects for large global crops this and on harvest progress.
Although frost hit areas of southeast Australia and other areas are dry, Australian Crop Forecasters predicts the wheat harvest will be 24.86 million tonnes. The last government report from June forecast the crop at 24.59 million tonnes.
USDA’s forecast is 26 million tonnes
Winnipeg ICE Futures Canada dollars per tonne
Canola Nov 2014 435.40 unch 0.00%
Canola Jan 2015 440.20 -0.20 -0.05%
Canola Mar 2015 442.00 -0.30 -0.07%
Canola May 2015 439.40 -0.40 -0.09%
Canola Jul 2015 436.20 -0.40 -0.09%
Milling Wheat Oct 2014 200.00 +2.00 +1.01%
Milling Wheat Dec 2014 205.00 +2.00 +0.99%
Milling Wheat Mar 2015 212.00 +2.00 +0.95%
Durum Wheat Oct 2014 250.00 unch 0.00%
Durum Wheat Dec 2014 256.00 unch 0.00%
Durum Wheat Mar 2015 257.00 unch 0.00%
Barley Oct 2014 136.00 unch 0.00%
Barley Dec 2014 138.00 unch 0.00%
Barley Mar 2015 139.00 unch 0.00%
American crop prices in cents US/bushel, soybean meal in $US/short ton, soy oil in cents US/pound
Chicago
Soybeans Aug 2014 1264.5 -25.5 -1.98%
Soybeans Sep 2014 1079.5 -14.75 -1.35%
Soybeans Nov 2014 1046.75 -12.75 -1.20%
Soybeans Jan 2015 1055.5 -12.75 -1.19%
Soybeans Mar 2015 1064 -13 -1.21%
Soybeans May 2015 1071.5 -12.5 -1.15%
Soybean Meal Aug 2014 418.7 +18.5 +4.62%
Soybean Meal Oct 2014 347.2 +0.1 +0.03%
Soybean Oil Aug 2014 33.95 -0.67 -1.94%
Soybean Oil Sep 2014 33.98 -0.66 -1.91%
Soybean Oil Oct 2014 34.05 -0.66 -1.90%
Corn Sep 2014 358 -0.5 -0.14%
Corn Dec 2014 369.75 +0.75 +0.20%
Corn Mar 2015 383 +1.25 +0.33%
Corn May 2015 391.5 +1.5 +0.38%
Corn Jul 2015 398.25 +1.25 +0.31%
Oats Sep 2014 369.5 +10.25 +2.85%
Oats Dec 2014 331.5 -1 -0.30%
Oats Mar 2015 316.25 -1 -0.32%
Oats May 2015 309.25 -1 -0.32%
Oats Jul 2015 309 -0.75 -0.24%
Wheat Sep 2014 528 -10 -1.86%
Wheat Dec 2014 545.5 -5.75 -1.04%
Wheat Mar 2015 565.75 -5 -0.88%
Wheat May 2015 578.75 -5 -0.86%
Wheat Jul 2015 588.5 -3.75 -0.63%
Minneapolis
Spring Wheat Sep 2014 604.5 -4.5 -0.74%
Spring Wheat Dec 2014 616.25 -4.5 -0.72%
Spring Wheat Mar 2015 628.5 -3.75 -0.59%
Spring Wheat May 2015 636.75 -3.5 -0.55%
Spring Wheat Jul 2015 644 -3.25 -0.50%
Kansas City
Hard Red Wheat Sep 2014 604 -9.25 -1.51%
Hard Red Wheat Mar 2015 630 -7 -1.10%
Hard Red Wheat May 2015 634.5 -6 -0.94%
Hard Red Wheat Jul 2015 625.75 -5.5 -0.87%
Light crude oil nearby futures in New York rose 22 cents at $97.59 US per barrel.
The Canadian dollar at noon was 91.50 cents US, up from 91.37 cents the previous trading day. The U.S. dollar at noon was $1.0929 Cdn.
Surging biotech drug maker shares helped the U.S. market shrug off weak earnings reports and soft monthly retail data.
In Canada, falling crude oil prices weighed on the TSX composite as did the volitile situation in Ukraine.
In unofficial tallies —
The Toronto Stock Exchange’s S&P/TSX composite index
closed down 11.50 points, or 0.08
percent, at 15,262.73.
The Dow Jones industrial average rose 91.26 points or 0.55 percent, to end at 16,651.80.
The S&P 500 gained 12.97 points or 0.67 percent, to finish at 1,946.72.
The Nasdaq Composite added 44.88 points or 1.02 percent, to close at 4,434.13.
