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June 2-4 rain forecast[/caption]
A weaker loonie and uncertainty about crop size lifted canola futures on Wednesday.
Old crop edged up by only 20 cents a tonne, but new crop November rose $2.10 to $460.
Canola producers are worried about continuing dry weather, crop setbacks from recent frost and flea beetles.
There could be light rain in some areas this week, but a better chance for substantial rain comes in the middle of next week.
Lows Friday morning are expected to fall close to the freezing mark in central and northern Saskatchewan.
Wheat futures fell for a third straight session on ideas that the rain and flooding in the U.S. southern Plains have not caused that much damage to the crop.
Also, global wheat stocks are expected to be ample, leading to strong competition in the world marketplace.
The week’s U.S. winter wheat crop condition report showed the national crop unchanged from last week.
The same report showed the U.S. corn crop was in the home stretch of seeding and conditions were generally good. That pressured corn lower.
Soybeans edged higher, dragged up by strong soy meal futures as crush margins improved.
Light crude oil nearby futures in New York were down 52 cents to US$57.51 per barrel.
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U.S. grains: Corn, soybeans fall as rain expected to help U.S. crops
Chicago corn and soybean futures fell on Monday on forecasts for crop-friendly rain in U.S. grain belts this week.
Stock markets rose Wednesday on ideas that stocks were oversold in the Tuesday’s session.
But weaker energy stocks held back the gains in the Toronto market.
The Toronto Stock Exchange’s S&P/TSX composite index closed up 59.66 points, or 0.40 percent, at 15,110.47.
American stock indexes rebound with gains in technology and healthcare stocks and optimism that Greece would avoid defaulting on its debt.
The Dow Jones industrial average rose 121.45 points, or 0.67 percent, to end at 18,162.99 points. The S&P 500 gained 19.28 points, or 0.92 percent, to 2,123.48 and the Nasdaq Composite added 73.84 points, or 1.47 percent, to 5,106.59.
Winnipeg ICE Futures Canada dollars per tonne
Canola Jul 2015 468.90 +0.20 +0.04%
Canola Nov 2015 460.00 +2.10 +0.46%
Canola Jan 2016 459.00 +2.50 +0.55%
Canola Mar 2016 458.00 +2.50 +0.55%
Canola May 2016 457.00 +2.50 +0.55%
Milling Wheat Jul 2015 210.00 -3.00 -1.41%
Milling Wheat Dec 2015 212.00 -3.00 -1.40%
Durum Wheat Jul 2015 298.00 unch 0.00%
Durum Wheat Oct 2015 298.00 unch 0.00%
Durum Wheat Dec 2015 303.00 unch 0.00%
Barley Jul 2015 191.00 unch 0.00%
Barley Oct 2015 177.00 unch 0.00%
Barley Dec 2015 182.00 unch 0.00%
American crop prices in cents US/bushel, soybean meal in $US/short ton, soy oil in cents US/pound
Chicago
Soybeans Jul 2015 927 +4.5 +0.49%
Soybeans Aug 2015 916.25 +3 +0.33%
Soybeans Sep 2015 907.75 +2.75 +0.30%
Soybeans Nov 2015 906.5 +1.75 +0.19%
Soybeans Jan 2016 913.75 +1.5 +0.16%
Soybeans Mar 2016 917.75 +0.75 +0.08%
Soybean Meal Jul 2015 308.1 +6.2 +2.05%
Soybean Meal Aug 2015 302.9 +5.6 +1.88%
Soybean Meal Sep 2015 299.4 +4.6 +1.56%
Soybean Oil Jul 2015 31.73 -0.41 -1.28%
Soybean Oil Aug 2015 31.79 -0.41 -1.27%
Soybean Oil Sep 2015 31.83 -0.42 -1.30%
Corn Jul 2015 349.5 -5.5 -1.55%
Corn Sep 2015 355.75 -6.25 -1.73%
Corn Dec 2015 366.75 -6.5 -1.74%
Corn Mar 2016 377.5 -6.75 -1.76%
Corn May 2016 384.75 -6.75 -1.72%
Oats Jul 2015 236.5 -2 -0.84%
Oats Sep 2015 242.25 -2.25 -0.92%
Oats Dec 2015 250.5 -3 -1.18%
Oats May 2016 264 -2.5 -0.94%
Wheat Jul 2015 487.75 -5.75 -1.17%
Wheat Sep 2015 492.75 -8.25 -1.65%
Wheat Dec 2015 506.75 -9 -1.75%
Wheat Mar 2016 522 -9.5 -1.79%
Wheat May 2016 531.5 -9.25 -1.71%
Minneapolis
Spring Wheat Jul 2015 545.75 -7.5 -1.36%
Spring Wheat Sep 2015 556.25 -8 -1.42%
Spring Wheat Dec 2015 568.5 -8.5 -1.47%
Spring Wheat Mar 2016 581.25 -8.25 -1.40%
Spring Wheat May 2016 590.5 -8 -1.34%
Kansas City
Hard Red Wheat Jul 2015 512 -12.5 -2.38%
Hard Red Wheat Sep 2015 520.75 -13.5 -2.53%
Hard Red Wheat Dec 2015 538 -14.75 -2.67%
Hard Red Wheat Mar 2016 551 -14.5 -2.56%
Hard Red Wheat May 2016 559.5 -14.75 -2.57%
