Canola futures saw only minor changes Wednesday with old crop down slightly and new crop a little higher.
The loonie fell sharply today — more than a cent — and is down about US2 cents over the past couple of days.
Support from the weaker loonie had the canola market in positive territory most of the trading day but there was a slump going into the close.
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The soybean complex closed marginally higher as traders felt the losses on Tuesday were a little overdone and as they watched technical factors.
Wheat in all three markets edged higher on technical buying and corn slightly dipped.
Wheat rose even though the U.S. agricultural attache in Ukraine posted a report pegging the wheat crop there significantly larger than local analysts’ forecasts.
Also, the annual industry tour of the Kansas wheat crop is showing above average yield potential.
Accuweather issued its summer forecast for the U.S.
For the Midwest, it had this to say:
Dryness and heat will be another common theme in the Midwest and northern Plains states, AccuWeather long-range forecaster Paul Pastelok said.
Heat will develop late spring and early summer across these areas and tighten its grip throughout the season.
“Actually we are seeing evidence of this in parts of the region already,” Pastelok said. “If the rest of the spring works out as planned, then these areas may fall into a drought with frequent heat waves during the summer.”
Indianapolis, Indiana, Chicago and Minneapolis could enter a minor to moderate drought, he said.
Light crude oil nearby futures in New York were up 13 cents to US$43.78 per barrel.
The Canadian dollar at noon was US77.62 cents, down from 78.83 cents the previous trading day. The U.S. dollar at noon was C$1.2884.
The Toronto Stock Exchange’s S&P/TSX composite index closed down 75.68 points, or 0.55 percent, at 13,632.00.
The Dow Jones industrial average ended down 99.65 points, or 0.56 percent, to 17,651.26, the S&P 500 lost 12.25 points, or 0.59 percent, to 2,051.12 and the Nasdaq Composite finished 37.59 points, or 0.79 percent, lower at 4,725.64
Winnipeg ICE Futures Canada dollars per tonne
Canola May 2016 495.70 -1.90 -0.38%
Canola Jul 2016 501.50 -2.10 -0.42%
Canola Nov 2016 500.50 +1.70 +0.34%
Canola Jan 2017 504.00 +2.00 +0.40%
Canola Mar 2017 504.30 +1.50 +0.30%
Milling Wheat May 2016 237.00 +2.00 +0.85%
Milling Wheat Jul 2016 235.00 +2.00 +0.86%
Milling Wheat Oct 2016 230.00 +2.00 +0.88%
Durum Wheat May 2016 303.00 unch 0.00%
Durum Wheat Jul 2016 298.00 unch 0.00%
Durum Wheat Oct 2016 293.00 unch 0.00%
Barley May 2016 172.00 unch 0.00%
Barley Jul 2016 174.00 unch 0.00%
Barley Oct 2016 174.00 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 2016 1024.5 +3 +0.29%
Soybeans Jul 2016 1034 +4 +0.39%
Soybeans Aug 2016 1036 +4 +0.39%
Soybeans Sep 2016 1024 +5 +0.49%
Soybeans Nov 2016 1015.5 +5.25 +0.52%
Soybeans Jan 2017 1016.5 +5.5 +0.54%
Soybean Meal May 2016 343 +3.5 +1.03%
Soybean Meal Jul 2016 345 +3.2 +0.94%
Soybean Meal Aug 2016 343.2 +3 +0.88%
Soybean Oil May 2016 32.2 +0.07 +0.22%
Soybean Oil Jul 2016 32.47 +0.06 +0.19%
Soybean Oil Aug 2016 32.59 +0.05 +0.15%
Corn May 2016 373.25 -5 -1.32%
Corn Jul 2016 376.75 -3 -0.79%
Corn Sep 2016 379 -2.5 -0.66%
Corn Dec 2016 385 -2 -0.52%
Corn Mar 2017 393.75 -1.75 -0.44%
Oats May 2016 183 -3.75 -2.01%
Oats Jul 2016 195 -4 -2.01%
Oats Sep 2016 206.75 -2.75 -1.31%
Oats Dec 2016 217 -2 -0.91%
Oats Mar 2017 227.75 -1 -0.44%
Wheat May 2016 460.5 +0.75 +0.16%
Wheat Jul 2016 471.25 +0.5 +0.11%
Wheat Sep 2016 481.5 +0.25 +0.05%
Wheat Dec 2016 498.75 unch 0.00%
Wheat Mar 2017 515.25 -0.25 -0.05%
Minneapolis
Spring Wheat May 2016 534.75 +0.5 +0.09%
Spring Wheat Jul 2016 541 +4.75 +0.89%
Spring Wheat Sep 2016 546.75 +2.5 +0.46%
Spring Wheat Dec 2016 557 +2.25 +0.41%
Spring Wheat Mar 2017 565.5 +2.75 +0.49%
Kansas City
Hard Red Wheat May 2016 444 +2 +0.45%
Hard Red Wheat Jul 2016 457.75 +2 +0.44%
Hard Red Wheat Sep 2016 474.5 +2.25 +0.48%
Hard Red Wheat Dec 2016 499.5 +2.75 +0.55%
Hard Red Wheat Mar 2017 515.25 +3 +0.59%
