It was an up day on crop markets but most grains closed well off their highs.
Spring wheat again was strong on concerns about dry weather across much of the U.S. and Canada’s Prairies.
July Minneapolis wheat rose almost 1.5 percent.
Canola gained ground with new crop November up $5.90 or 1.2 percent at $495.50 and July up $3.70 or 0.73 percent at $513.20.
Canola had support from soybeans with the July soy contract up almost 0.8 percent.
Meal and oil were also up.
After consolidating on Wednesday, spring wheat showed strength but it was Kansas July hard winter that led the market, climbing 1.74 percent.
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Chicago July was up one percent.
Corn edged up about a penny a bushel.
Hot, dry weather is expected through the weekend in most of the U.S. Midwest and Plains.
In Canada, Manitoba and eastern Saskatchewan could get accumulations of a half inch or more Friday though Sunday. But the forecast has turned drier for much of Saskatchewan and eastern Alberta over the weekend.
Montana and western North Dakota could get rain next week.
The USDA will release its monthly supply and demand report Friday morning.
OUTSIDE MARKETS
Light crude oil nearby futures in New York was down eight cents to US$45.64 per barrel.
In the afternoon, the Canadian dollar was trading around US74.04 cents, little changed from 74.03 cents the previous trading day. The U.S. dollar was C$1.351.
The Toronto Stock Exchange’s S&P/TSX composite index closed up 50.95 points, or 0.33 percent, at 15,423.09.
Former FBI head James Comey’s testimony to a Senate committee will make lots of headlines but it did not contain a major bombshell.
The stock market is looking to see how much the various investigations into the Trump administration and campaign will impede the President from advancing his economic agenda.
The trade is also watching for the results of the British general election today.
The Dow Jones Industrial Average rose 8.84 points, or 0.04 percent, to 21,182.53, the S&P 500 gained 0.65 points, or 0.03 percent, to 2,433.79 and the Nasdaq Composite added 24.38 points, or 0.39 percent, to 6,321.76.
Winnipeg ICE Futures Canada dollars per tonne
Canola Jul 17 513.20 +3.70 +0.73%
Canola Nov 17 495.50 +5.90 +1.21%
Canola Jan 18 501.20 +6.00 +1.21%
Canola Mar 18 506.70 +6.00 +1.20%
Canola May 18 508.90 +6.00 +1.19%
Milling Wheat Jul 17 262.00 +7.00 +2.75%
Milling Wheat Oct 17 258.00 +4.00 +1.57%
Milling Wheat Dec 17 261.00 +5.00 +1.95%
Durum Wheat Jul 17 279.00 unch unch
Durum Wheat Oct 17 269.00 unch unch
Durum Wheat Dec 17 269.00 unch unch
Barley Jul 17 138.00 unch unch
Barley Oct 17 140.00 unch unch
Barley Dec 17 140.00 unch unch
American crop prices in cents US/bushel, soybean meal in $US/short ton, soy oil in cents US/pound
Chicago
Soybeans Jul 2017 938.00 +7.25 +0.78%
Soybeans Aug 2017 941.75 +7.50 +0.80%
Soybeans Sep 2017 941.75 +8.00 +0.86%
Soybeans Nov 2017 943.75 +8.00 +0.85%
Soybeans Jan 2018 951.25 +7.75 +0.82%
Soybeans Mar 2018 954.25 +6.25 +0.66%
Soybean Meal Jul 2017 306.10 +1.20 +0.39%
Soybean Meal Aug 2017 307.70 +1.30 +0.42%
Soybean Meal Sep 2017 308.70 +1.20 +0.39%
Soybean Oil Jul 2017 31.85 +0.49 +1.56%
Soybean Oil Aug 2017 31.96 +0.48 +1.52%
Soybean Oil Sep 2017 32.09 +0.48 +1.52%
Corn Jul 2017 385.75 +1.00 +0.26%
Corn Sep 2017 393.50 +1.25 +0.32%
Corn Dec 2017 403.75 +1.25 +0.31%
Corn Mar 2018 411.75 +0.50 +0.12%
Corn May 2018 416.75 unch 0.00%
Oats Jul 2017 245.00 -15.50 -5.95%
Oats Sep 2017 237.00 -12.25 -4.91%
Oats Dec 2017 233.00 -3.50 -1.48%
Oats Mar 2018 227.50 -6.25 -2.67%
Oats May 2018 228.00 -6.25 -2.67%
Wheat Jul 2017 449.25 +4.50 +1.01%
Wheat Sep 2017 463.25 +4.00 +0.87%
Wheat Dec 2017 484.50 +4.50 +0.94%
Wheat Mar 2018 501.50 +3.75 +0.75%
Wheat May 2018 513.25 +4.25 +0.83%
Minneapolis
Spring Wheat Jul 2017 604.25 +8.75 +1.47%
Spring Wheat Sep 2017 608.50 +9.50 +1.59%
Spring Wheat Dec 2017 606.25 +6.25 +1.04%
Spring Wheat Mar 2018 607.50 +6.25 +1.04%
Spring Wheat May 2018 608.25 +5.00 +0.83%
Kansas City
Hard Red Wheat Jul 2017 453.75 +7.75 +1.74%
Hard Red Wheat Sep 2017 470.75 +7.75 +1.67%
Hard Red Wheat Dec 2017 495.50 +7.50 +1.54%
Hard Red Wheat Mar 2018 509.25 +6.75 +1.34%
Hard Red Wheat May 2018 520.00 +6.25 +1.22%
Chicago livestock futures in US¢/pound (rounded to two decimal places)
Live Cattle (P) Jun 2017 131.38 +0.18 +0.14%
Live Cattle (P) Aug 2017 124.02 -0.16 -0.13%
Live Cattle (P) Oct 2017 120.40 unch 0.00%
Feeder Cattle (P) Aug 2017 153.95 -0.85 -0.55%
Feeder Cattle (P) Sep 2017 153.25 -0.88 -0.57%
Feeder Cattle (P) Oct 2017 151.75 -1.03 -0.67%
Lean Hogs (P) Jun 2017 82.02 +0.39 +0.48%
Lean Hogs (P) Jul 2017 82.20 +1.13 +1.39%
Lean Hogs (P) Aug 2017 81.68 +0.96 +1.19%
