Generally good weather for North American farmers is has meant generally bad price trends for big North American crops.
But canola has been a bit stronger than many other crops recently and edged higher Monday on both old and new crop months.
July canola futures rose $3.90 per tonne and November rose $1.30, while soybean oil, soybeans, corn and all three wheat contracts fell.
Wet weather in many parts of Western Canada encouraged speculation that some acres wouldn’t get seeded while production on some seeded fields would suffer.
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Farmers have also reduced deliveries, as they kept busy with seeding, spraying weeds and all the tasks of the professional agriculturalist.
Continued craziness in Iraq worried energy markets. Last week’s crude oil rally lent some support, but crude is not yet a major factor in oilseed prices.
Cereal grains continued their steady grind lower Monday, following weeks of suffering as decent northern hemisphere weather allowed spring crops to get established and winter crops to flourish in places such as Europe.
Every day of good weather causes traders to sell off corn and wheat futures a bit more, with a long, slow slide continuing.
Winnipeg ICE Futures Canada dollars per tonne
Canola Jul 2014 467.40 +3.90 +0.84%
Canola Nov 2014 461.90 +1.30 +0.28%
Canola Jan 2015 468.00 +1.30 +0.28%
Canola Mar 2015 471.00 +1.30 +0.28%
Canola May 2015 473.20 +1.40 +0.30%
Milling Wheat Jul 2014 200.00 -2.00 -0.99%
Milling Wheat Oct 2014 201.00 -2.00 -0.99%
Milling Wheat Dec 2014 204.00 -2.00 -0.97%
Durum Wheat Jul 2014 239.00 unch 0.00%
Durum Wheat Oct 2014 230.00 unch 0.00%
Durum Wheat Dec 2014 232.00 unch 0.00%
Barley Jul 2014 135.00 unch 0.00%
Barley Oct 2014 125.00 unch 0.00%
Barley Dec 2014 127.00 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 2014 1421.75 -4 -0.28%
Soybeans Aug 2014 1367.25 -2.25 -0.16%
Soybeans Sep 2014 1255.75 -4.25 -0.34%
Soybeans Nov 2014 1217 -4.25 -0.35%
Soybeans Jan 2015 1223 -4.75 -0.39%
Soybeans Mar 2015 1228.5 -5 -0.41%
Soybean Meal Jul 2014 462.4 -5.5 -1.18%
Soybean Meal Aug 2014 441.5 -1.9 -0.43%
Soybean Meal Sep 2014 416.4 -1 -0.24%
Soybean Oil Jul 2014 39.5 -0.19 -0.48%
Soybean Oil Aug 2014 39.61 -0.17 -0.43%
Soybean Oil Sep 2014 39.62 -0.14 -0.35%
Corn Jul 2014 441 -6 -1.34%
Corn Sep 2014 436.75 -6.25 -1.41%
Corn Dec 2014 442 -5.5 -1.23%
Corn Mar 2015 453 -5.25 -1.15%
Corn May 2015 460 -5 -1.08%
Oats Jul 2014 342.75 -4.5 -1.30%
Oats Sep 2014 330.25 -6.25 -1.86%
Oats Dec 2014 328.75 -4 -1.20%
Oats Mar 2015 324.5 -3.5 -1.07%
Oats May 2015 321.5 -3.75 -1.15%
Wheat Jul 2014 581 -5 -0.85%
Wheat Sep 2014 591.25 -5.25 -0.88%
Wheat Dec 2014 611.25 -5.75 -0.93%
Wheat Mar 2015 629.25 -5.75 -0.91%
Wheat May 2015 640.75 -5.5 -0.85%
Minneapolis
Spring Wheat Jul 2014 680 -4.25 -0.62%
Spring Wheat Sep 2014 686.25 -5.25 -0.76%
Spring Wheat Dec 2014 697 -6.75 -0.96%
Spring Wheat Mar 2015 705.5 -5.25 -0.74%
Spring Wheat May 2015 710.75 -4.25 -0.59%
Kansas City
KC HRW Wheat Jul 2014 708.25 -5 -0.70%
KC HRW Wheat Sep 2014 708.5 -7 -0.98%
KC HRW Wheat Dec 2014 717.5 -6.75 -0.93%
KC HRW Wheat Mar 2015 721.75 -7 -0.96%
KC HRW Wheat May 2015 720 -6.5 -0.89%
Light crude oil nearby futures in New York dropped one cent at $106.90 US per barrel.
The Canadian dollar at noon was 92.17 cents US, up from 92.01 cents the previous trading day. The U.S. dollar at noon was $1.0850 Cdn.
In unofficial tallies —
The Toronto Stock Exchange’s S&P/TSX composite index closed up 38.82 points, or 0.26 percent, at 15,040.43.
The Dow Jones industrial average rose 5.27 points or 0.03 percent, to end at 16,781.01.
The S&P 500 gained 1.62 points or 0.08 percent, to finish at 1,937.78.
The Nasdaq Composite added 10.45 points or 0.24 percent, to close at 4,321.11.
