Soy oil strength and a weak Canadian dollar helped lift canola futures on Wednesday.
Funds bought canola and that too supported the oilseed.
Soybeans bounced back a little after losses earlier this week but corn and wheat continued to fall.
News of additional soybean exports helped lift soybeans late in the trading day to close higher after being lower early in the day.
The Rosario grain exchange in Argentina trimmed its forecast for that country’s corn production by 500,000 tonnes to 54.5 million tonnes.
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But that didn’t stop corn from falling on ideas that although the USDA on Monday trimmed its forecast of U.S. year-end corn stocks the supply is still burdensome.
Wheat also fell on ideas that there is more than ample supply of the grain.
Also the World Bank today lowered its forecast for global growth.
The bank predicted the global economy would grow three percent this year, below a forecast of 3.4 percent made in June, Reuters reported.
World GDP growth will reach 3.3 percent in 2016, as opposed to a June forecast of 3.5 percent, before dipping to 3.2 percent in 2017, it said.
The Toronto Stock Exchange composite index fell 102.73 points of 0.72 percent to 14,084.43.
The Dow Jones industrial average fell 187.84 points, or 1.07 percent, to 17,425.84, the S&P 500 lost 11.88 points, or 0.59 percent, to 2,011.15 and the Nasdaq Composite dropped 22.18 points, or 0.48 percent, to 4,639.32.
Light crude oil nearby futures in New York rose $2.59 to US$48.48 per barrel.
The Canadian dollar at noon was US83.63 cents, down from 83.70 cents the previous trading day. The U.S. dollar at noon was C$1.1958.
Winnipeg ICE Futures Canada dollars per tonne
Canola Mar 2015 454.00 +3.70 +0.82%
Canola May 2015 448.50 +1.60 +0.36%
Canola Jul 2015 443.50 -0.40 -0.09%
Canola Nov 2015 429.00 -1.20 -0.28%
Canola Jan 2016 430.20 -3.40 -0.78%
Milling Wheat Mar 2015 214.00 unch 0.00%
Milling Wheat May 2015 217.00 unch 0.00%
Milling Wheat Jul 2015 220.00 unch 0.00%
Durum Wheat Mar 2015 361.00 -4.00 -1.10%
Durum Wheat May 2015 351.00 -4.00 -1.13%
Durum Wheat Jul 2015 341.00 -4.00 -1.16%
Barley Mar 2015 182.00 unch 0.00%
Barley May 2015 184.00 unch 0.00%
Barley Jul 2015 186.00 unch 0.00%
American crop prices in cents US/bushel, soybean meal in $US/short ton, soy oil in cents US/pound
Chicago
Soybeans Mar 2015 1009.25 +5.25 +0.52%
Soybeans May 2015 1014.5 +4.5 +0.45%
Soybeans Jul 2015 1020 +4.25 +0.42%
Soybeans Aug 2015 1019.25 +4.75 +0.47%
Soybeans Sep 2015 1003.75 +4.75 +0.48%
Soybeans Nov 2015 991.25 +4.5 +0.46%
Soybean Meal Mar 2015 335.5 +1.9 +0.57%
Soybean Meal May 2015 330.2 +1.9 +0.58%
Soybean Meal Jul 2015 329.8 +2.1 +0.64%
Soybean Oil Mar 2015 32.82 +0.28 +0.86%
Soybean Oil May 2015 32.95 +0.27 +0.83%
Soybean Oil Jul 2015 33.11 +0.25 +0.76%
Corn Mar 2015 381 -4.75 -1.23%
Corn May 2015 388.5 -5 -1.27%
Corn Jul 2015 395 -5.25 -1.31%
Corn Sep 2015 400.75 -4.75 -1.17%
Corn Dec 2015 408.5 -3.5 -0.85%
Oats Mar 2015 282.75 -10.5 -3.58%
Oats May 2015 285 -12 -4.04%
Oats Jul 2015 289.75 -11 -3.66%
Oats Sep 2015 291.75 -10.25 -3.39%
Oats Dec 2015 292.25 -9.75 -3.23%
Wheat Mar 2015 537.75 -10.25 -1.87%
Wheat May 2015 540.75 -11.25 -2.04%
Wheat Jul 2015 545.25 -12.25 -2.20%
Wheat Sep 2015 552.5 -12.5 -2.21%
Wheat Dec 2015 564.25 -12 -2.08%
Minneapolis
Spring Wheat Mar 2015 580.5 -8 -1.36%
Spring Wheat May 2015 587.25 -8.25 -1.39%
Spring Wheat Jul 2015 595.5 -8 -1.33%
Spring Wheat Sep 2015 602.25 -8 -1.31%
Spring Wheat Dec 2015 610.5 -8.75 -1.41%
Kansas City
Hard Red Wheat Mar 2015 575 -6.75 -1.16%
Hard Red Wheat May 2015 578.5 -7.5 -1.28%
Hard Red Wheat Jul 2015 583.25 -7.75 -1.31%
Hard Red Wheat Sep 2015 594.25 -7.5 -1.25%
Hard Red Wheat Dec 2015 608.25 -7.5 -1.22%
