Oilseeds and corn edged lower Tuesday but wheat climbed a little on a technical bounce.
Gains in wheat were kept in check by slow U.S. wheat exports.
Canola drifted lower on weakness in soybeans and technical signals. Traders are rolling out of the May contract into July.
The premium of the May contract over new crop November has almost disappeared. May now has a premium of only 50 cents a tonne.
However, the July contract, which is now the most traded on the board, retains the premium. July closed at $452, a $6 premium over November.
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U.S. grains: Soybean futures set two-week high on US weather worry, soyoil rally
Chicago Board of Trade soybean futures touched a two-week high on Friday on worries that heat may threaten U.S. crops and expectations that the country’s biofuel policy would boost demand for soyoil, analysts said.
The trade awaits the Statistics Canada grower survey on seeding intentions on Thursday.
Worries about spreading bird flu in the United States weighed down soy meal and corn as feed demand could be hurt by flock culling.
Corn also faced pressure on ideas that seeding in the Midwest might pick up this week.
The USDA said corn seeding was nine percent complete as of April 19, lagging the five-year average progress of 13 percent.
There are forecasts for dry weather conducive for field work, however, it is also supposed to be cooler than normal and so farmers might not actually plant because the seed might not germinate in the cold soil.
Wheat prices fell in the last 10 days or so on improved moisture conditions in the southern U.S. Plains but the weekly crop condition report showed little improvement.
USDA reported 42 percent of the U.S. winter wheat crop in good to excellent condition, unchanged from the previous week; analysts had expected an improvement.
The Kansas crop actually declined last week, falling to 26 percent good to excellent, down two points from the week before,
Nebraska, Oklahoma and Texas all showed a one percentage point improvement in the good to excellent category.
USDA reported the U.S. spring wheat crop was 36 percent planted as of Sunday, up from 17 percent the previous week and well ahead of the five-year average of 19 percent.
Light crude oil nearby futures in New York were down $1.12 to US$55.26 per barrel.
The Canadian dollar at noon was US81.47 cents, down from 81.94 cents the previous trading day. The U.S. dollar at noon was C$1.2274.
The TSX composite index fell 66.16 points of 0.43 percent to 15,346.44.
The Dow was a little lower on uninspiring quarterly reports. The Nasdaq rose on a proposed merger in the pharmaceutical biotech field.
The Dow Jones industrial average fell 85.34 points, or 0.47 percent, to 17,949.59, the S&P 500 lost 3.09 points, or 0.15 percent, to 2,097.31 and the Nasdaq Composite added 19.50 points, or 0.39 percent, to 5,014.10.
Canadian Pacific Railway reported net quarterly income rose to $320 million, or $1.92 a share, from $254 million, or $1.44, a year earlier. Revenue rose 10 percent to $1.67 billion.
Canadian National Railway’s net income for the quarter rose to $704 million, or 86 cents a share, from $623 million, or 75 cents, a year earlier. Revenue rose to $3.1 billion from $2.69 billion a year ago
Winnipeg ICE Futures Canada dollars per tonne
Canola May 2015 446.50 -2.80 -0.62%
Canola Jul 2015 452.00 -2.20 -0.48%
Canola Nov 2015 446.00 -1.20 -0.27%
Canola Jan 2016 446.90 -1.50 -0.33%
Canola Mar 2016 447.20 -0.20 -0.04%
Milling Wheat May 2015 205.00 +2.00 +0.99%
Milling Wheat Jul 2015 207.00 +2.00 +0.98%
Milling Wheat Oct 2015 212.00 +1.00 +0.47%
Durum Wheat May 2015 313.00 unch 0.00%
Durum Wheat Jul 2015 303.00 unch 0.00%
Durum Wheat Oct 2015 308.00 unch 0.00%
Barley May 2015 207.00 unch 0.00%
Barley Jul 2015 207.00 unch 0.00%
Barley Oct 2015 192.00 unch 0.00%
American crop prices in cents US/bushel, soybean meal in $US/short ton, soy oil in cents US/pound
Chicago
Soybeans May 2015 975.25 -2.25 -0.23%
Soybeans Jul 2015 976.75 -2.75 -0.28%
Soybeans Aug 2015 973.75 -2 -0.20%
Soybeans Sep 2015 962 -1.75 -0.18%
Soybeans Nov 2015 956.75 -1.5 -0.16%
Soybeans Jan 2016 963.25 -1.25 -0.13%
Soybean Meal May 2015 315.8 -2.7 -0.85%
Soybean Meal Jul 2015 314.9 -3.1 -0.97%
Soybean Meal Aug 2015 313.3 -2.9 -0.92%
Soybean Oil May 2015 31.82 +0.23 +0.73%
Soybean Oil Jul 2015 32.02 +0.23 +0.72%
Soybean Oil Aug 2015 32.07 +0.24 +0.75%
Corn May 2015 373 -5 -1.32%
Corn Jul 2015 380 -4.75 -1.23%
Corn Sep 2015 387.75 -4.25 -1.08%
Corn Dec 2015 397.5 -3.75 -0.93%
Corn Mar 2016 407.75 -3.5 -0.85%
Oats May 2015 259.5 -3.25 -1.24%
Oats Jul 2015 263.5 -3.25 -1.22%
Oats Sep 2015 270 -3.25 -1.19%
Oats Dec 2015 275.5 -2.75 -0.99%
Oats Mar 2016 279.5 -2.75 -0.97%
Wheat May 2015 500.75 +2 +0.40%
Wheat Jul 2015 500.25 +2 +0.40%
Wheat Sep 2015 509 +2 +0.39%
Wheat Dec 2015 524.25 +2.25 +0.43%
Wheat Mar 2016 538.75 +2 +0.37%
Minneapolis
Spring Wheat May 2015 545.25 +6.25 +1.16%
Spring Wheat Jul 2015 558 +6.75 +1.22%
Spring Wheat Sep 2015 566.5 +5.5 +0.98%
Spring Wheat Dec 2015 576.5 +3 +0.52%
Spring Wheat Mar 2016 590 +1.5 +0.25%
Kansas City
Hard Red Wheat May 2015 513.75 +1.25 +0.24%
Hard Red Wheat Jul 2015 519 +1 +0.19%
Hard Red Wheat Sep 2015 529.5 +0.5 +0.09%
Hard Red Wheat Dec 2015 547.25 +0.5 +0.09%
Hard Red Wheat Mar 2016 560 +0.5 +0.09%
