Crop prices were mostly lower on Wednesday with spring wheat taking a breather as the trade tries to figure out how much damage has been done to crops in the U.S. Northern Plains.
Even though there is a mixed bag of conditions in the Canadian Prairies, and poor conditions in North Dakota’s crop, canola dipped a little lower.
Soybeans and corn fell, as growing conditions are generally good in the U.S. Midwest.
The heat wave in Europe is expected to moderate as the week progresses. Temperatures have been in the mid 30s C and have stressed crops.
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On the Canadian Prairies the potential for showers and thunderstorms exists over the next three days, but the U.S. Northern Plains should be dry.
The trade will also start to adjust to reflect its expectations for what Canadian and U.S. seeded acreage reports will say.
Statistics Canada’s report is expected June 29 and the USDA report is set for June 30.
OUTSIDE MARKETS
Crude oil fell again on oversupply.
Light crude oil nearby futures in New York were down 98 cents to US$42.53 per barrel.
In the afternoon, the Bank of Canada average for the Canadian dollar was US75.13 cents, down from 75.37 cents the previous trading day. The U.S. dollar was C$1.331.
The Toronto Stock Exchange’s S&P/TSX composite index closed down 1.07 points, or 0.01 percent, at 15,148.53.
The Dow Jones Industrial Average fell 57.11 points, or 0.27 percent, to close at 21,410.03, the S&P 500 lost 1.42 points, or 0.06 percent, dropping to 2,435.61 and the Nasdaq Composite added 45.92 points, or 0.74 percent, rising to 6,233.95.
Winnipeg ICE Futures Canada dollars per tonne
Canola Jul 17 506.30s -4.10 -0.80%
Canola Nov 17 479.40s -4.00 -0.83%
Canola Jan 18 485.30s -3.90 -0.80%
Canola Mar 18 491.10s -3.90 -0.79%
Canola May 18 493.30s -3.90 -0.78%
Milling Wheat Jul 17 272.00s -4.00 -1.45%
Milling Wheat Oct 17 266.00s -2.00 -0.75%
Milling Wheat Dec 17 269.00s -1.00 -0.37%
Durum Wheat Jul 17 277.00s unch unch
Durum Wheat Oct 17 267.00s unch unch
Durum Wheat Dec 17 270.00s unch unch
Barley Jul 17 138.00s unch unch
Barley Oct 17 140.00s unch unch
Barley Dec 17 140.00s unch unc
American crop prices in cents US/bushel, soybean meal in $US/short ton, soy oil in cents US/pound
Chicago
Soybeans Jul 2017 918.75 -9.00 -0.97%
Soybeans Aug 2017 922.50 -9.00 -0.97%
Soybeans Sep 2017 923.75 -9.50 -1.02%
Soybeans Nov 2017 927.75 -11.00 -1.17%
Soybeans Jan 2018 935.25 -11.00 -1.16%
Soybeans Mar 2018 941.50 -10.75 -1.13%
Soybean Meal Jul 2017 297.90 -3.00 -1.00%
Soybean Meal Aug 2017 299.70 -2.90 -0.96%
Soybean Meal Sep 2017 301.00 -3.00 -0.99%
Soybean Oil Jul 2017 31.85 -0.17 -0.53%
Soybean Oil Aug 2017 31.96 -0.18 -0.56%
Soybean Oil Sep 2017 32.09 -0.18 -0.56%
Corn Jul 2017 368.75 -1.25 -0.34%
Corn Sep 2017 376.75 -1.25 -0.33%
Corn Dec 2017 386.75 -1.25 -0.32%
Corn Mar 2018 396.25 -1.50 -0.38%
Corn May 2018 402.00 -1.50 -0.37%
Oats Jul 2017 258.75 -2.50 -0.96%
Oats Sep 2017 256.75 unch 0.00%
Oats Dec 2017 253.75 +2.50 +1.00%
Oats Mar 2018 246.75 +4.50 +1.86%
Oats May 2018 246.75 +3.75 +1.54%
Wheat Jul 2017 464.50 -8.00 -1.69%
Wheat Sep 2017 479.50 -8.25 -1.69%
Wheat Dec 2017 502.00 -7.00 -1.38%
Wheat Mar 2018 518.00 -5.00 -0.96%
Wheat May 2018 529.50 -4.25 -0.80%
Spring Wheat Jul 2017 648.75 -7.50 -1.14%
Spring Wheat Sep 2017 652.50 -6.75 -1.02%
Spring Wheat Dec 2017 651.75 -6.75 -1.03%
Spring Wheat Mar 2018 649.50 -6.50 -0.99%
Spring Wheat May 2018 645.50 -5.75 -0.88%
Hard Red Wheat Jul 2017 467.75 -6.50 -1.37%
Hard Red Wheat Sep 2017 485.50 -6.75 -1.37%
Hard Red Wheat Dec 2017 510.75 -7.00 -1.35%
Hard Red Wheat Mar 2018 525.50 -6.75 -1.27%
Hard Red Wheat May 2018 535.00 -6.25 -1.15%
Chicago livestock futures in US¢/pound (rounded to two decimal places)
Live Cattle (P) Jun 2017 119.50 -0.85 -0.71%
Live Cattle (P) Aug 2017 115.35 -0.55 -0.47%
Live Cattle (P) Oct 2017 113.02 -0.48 -0.42%
Feeder Cattle (P) Aug 2017 144.65 +0.72 +0.50%
Feeder Cattle (P) Sep 2017 144.05 +0.73 +0.51%
Feeder Cattle (P) Oct 2017 142.32 +0.57 +0.40%
Lean Hogs (P) Jul 2017 86.08 +1.08 +1.27%
Lean Hogs (P) Aug 2017 82.22 +0.57 +0.70%
Lean Hogs (P) Oct 2017 69.82 +0.12 +0.17%
