Canola futures edge higher Wednesday

American crop futures were a little lower Wednesday but canola edged higher.

Generally crop price movements were less than one percent in either direction.

November canola closed at $473 per tonne, up $1.90 or 0.4 percent.

Support came from harvest rain delays in western Canada and a modest rebound in soy oil futures after Tuesday’s decline. Crude oil rose, lending some support to vegetable oils.

In large parts of Saskatchewan it will be several days before the combines roll again after steady rain through a large part of Tuesday.

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Soybeans drifted lower on weakness in cash markets and technical selling.

Corn was lower on advances in the U.S. harvest and technical selling. As of Sunday five percent of the U.S. corn crop had been harvested.

Wheat was lower on technical selling and ample global supplies.

All markets are on edge as the U.S. Federal Reserve conducts its two day meeting. Some believe the bank will raise interest rates, its first increase since 2006.

Light crude oil nearby futures in New York were up $2.56 to US$47.15 per barrel.

The Canadian dollar at noon was US75.88 cents, up from 75.40 cents the previous trading day. The U.S. dollar at noon was C$1.3178.

An earlier version of this story had incorrect information for ICE milling wheat.

Winnipeg ICE Futures Canada dollars per tonne

Canola Nov 2015 473.00 +1.90 +0.40%

Canola Jan 2016 477.70 +1.90 +0.40%

Canola Mar 2016 479.70 +1.00 +0.21%

Canola May 2016 479.90 +0.60 +0.13%

Canola Jul 2016 479.60 +0.60 +0.13%

Milling Wheat Oct 15 234.00 +9.00

Milling Wheat Dec 15 239.00 +14.00

Milling Wheat Mar 16 244.00 +15.00

Durum Wheat Oct 15 340.00 unch unch

Durum Wheat Dec 15 340.00 unch unch

Durum Wheat Mar 16 345.00 unch unch

Barley Oct 15 184.00 unch unch

Barley Dec 15 184.00 unch unch

Barley Mar 16 186.00 unch unch

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

Chicago

Soybeans Nov 2015 887.25 -1.75 -0.20%

Soybeans Jan 2016 891 -1.25 -0.14%

Soybeans Mar 2016 893.25 -0.25 -0.03%

Soybeans May 2016 895 +0.25 +0.03%

Soybeans Jul 2016 898.75 unch 0.00%

Soybeans Aug 2016 897.5 unch 0.00%

Soybean Meal Oct 2015 316.3 -2.3 -0.72%

Soybean Meal Dec 2015 315.4 -2 -0.63%

Soybean Meal Jan 2016 313.4 -2 -0.63%

Soybean Oil Oct 2015 26.68 +0.21 +0.79%

Soybean Oil Dec 2015 26.89 +0.23 +0.86%

Soybean Oil Jan 2016 27.21 +0.24 +0.89%

Corn Dec 2015 386 -4.5 -1.15%

Corn Mar 2016 397.25 -4.5 -1.12%

Corn May 2016 404.5 -4.5 -1.10%

Corn Jul 2016 409.25 -4.25 -1.03%

Corn Sep 2016 402 -3.25 -0.80%

Oats Dec 2015 233.75 -2 -0.85%

Oats Mar 2016 235.5 -2 -0.84%

Oats May 2016 237.5 -1.75 -0.73%

Oats Jul 2016 238.5 -1.75 -0.73%

Oats Sep 2016 238.5 -1.75 -0.73%

Wheat Dec 2015 488.25 -6.5 -1.31%

Wheat Mar 2016 495.25 -7.25 -1.44%

Wheat May 2016 500.5 -7.25 -1.43%

Wheat Jul 2016 504.75 -7 -1.37%

Wheat Sep 2016 514 -6.5 -1.25%

Minneapolis

Spring Wheat Dec 2015 516.5 -4 -0.77%

Spring Wheat Mar 2016 531 -3 -0.56%

Spring Wheat May 2016 541 -3 -0.55%

Spring Wheat Jul 2016 551.25 -2.75 -0.50%

Spring Wheat Sep 2016 561.25 -2.75 -0.49%

Kansas City

Hard Red Wheat Dec 2015 486.5 -6 -1.22%

Hard Red Wheat Mar 2016 501 -6 -1.18%

Hard Red Wheat May 2016 510.75 -6.25 -1.21%

Hard Red Wheat Jul 2016 520 -6.25 -1.19%

Hard Red Wheat Sep 2016 534 -6.5 -1.20

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