Canola and other crop futures partly rebounded Thursday on bargain buying and short covering after sharp losses Wednesday.
Prices fell yesterday when the U.S. Department of Agriculture in a monthly report increased its outlook for American corn and soybean crops. The trade had expected a decrease.
November canola closed at $491.90, up $10.30 or 2.14 percent. The loonie was down 0.6 cent against the U.S. dollar today.
Early results from Canadian harvest of peas, lentils and barley show widely varying, but generally disappointing yields, as expected. The rain of early August and this week’s heat have germinated a lot of weeds.
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The PDQinfo.ca web site is again posting cash prices.
CWRS bids range from a low of about $210 a tonne in northeast Saskatchewan to $221 in Manitoba.
Durum ranged from about $356 a tonne in northeast Saskatchewan to $375 in Manitoba.
Canola ranged from about $460 in eastern Saskatchewan to $467 in southern Alberta.
In the U.S., some analysts said they still expect the USDA to scale back its harvest outlook in future reports, with attention now turning to next week’s Pro Farmer Midwest Crop Tour for a read on potential yields.
Corn today drew support from concerns about lost production in Europe following a spell of hot and dry weather.
Reuters reported analyst firm Strategie Grains cut its outlook for this year’s harvest in the European Union by more than 10 percent and said yield prospects could deteriorate further.
Light crude oil nearby futures in New York were down $1.07 to US$42.23 per barrel.
The Canadian dollar at noon was US76.46 cents, down from 77.08 cents the previous trading day. The U.S. dollar at noon was C$1.3078.
In early tallies:
The Toronto Stock Exchange’s S&P/TSX composite index closed down 101.13 points, or 0.71 percent, at 14,238.40.
The Dow Jones industrial average rose 5.68 points, or 0.03 percent, to 17,408.19, the S&P 500 lost 2.64 points, or 0.13 percent, to 2,083.41 and the Nasdaq Composite dropped 10.83 points, or 0.21 percent, to 5,033.56.
Winnipeg ICE Futures Canada dollars per tonne
Canola Nov 2015 491.90 +10.30 +2.14%
Canola Jan 2016 490.80 +9.50 +1.97%
Canola Mar 2016 489.80 +9.00 +1.87%
Canola May 2016 486.30 +8.70 +1.82%
Canola Jul 2016 481.80 +8.70 +1.84%
Milling Wheat Oct 2015 224.00 +4.00 +1.82%
Milling Wheat Dec 2015 224.00 +4.00 +1.82%
Milling Wheat Mar 2016 228.00 +4.00 +1.79%
Durum Wheat Oct 2015 365.00 -5.00 -1.35%
Durum Wheat Dec 2015 370.00 -10.00 -2.63%
Durum Wheat Mar 2016 380.00 -15.00 -3.80%
Barley Oct 2015 205.10 -2.00 -0.97%
Barley Dec 2015 205.10 -2.00 -0.97%
Barley Mar 2016 207.10 -2.00 -0.96%
American crop prices in cents US/bushel, soybean meal in $US/short ton, soy oil in cents US/pound
Chicago
Soybeans Aug 2015 993 +42 +4.42%
Soybeans Sep 2015 936.25 +17.75 +1.93%
Soybeans Nov 2015 927 +17 +1.87%
Soybeans Jan 2016 932.75 +17.5 +1.91%
Soybeans Mar 2016 932 +18 +1.97%
Soybeans May 2016 930.75 +18.75 +2.06%
Soybean Meal Aug 2015 344.1 +8.2 +2.44%
Soybean Meal Sep 2015 330.9 +7.2 +2.22%
Soybean Meal Oct 2015 322.6 +8 +2.54%
Soybean Oil Aug 2015 28.91 -0.12 -0.41%
Soybean Oil Sep 2015 28.99 -0.11 -0.38%
Soybean Oil Oct 2015 29.1 -0.12 -0.41%
Corn Sep 2015 363.75 +6.5 +1.82%
Corn Dec 2015 375.25 +7.25 +1.97%
Corn Mar 2016 387 +7.25 +1.91%
Corn May 2016 394 +7.75 +2.01%
Corn Jul 2016 399.25 +7.75 +1.98%
Oats Sep 2015 228 +1.25 +0.55%
Oats Dec 2015 239.5 -0.25 -0.10%
Oats May 2016 255 -3.5 -1.35%
Oats Jul 2016 256 -3.5 -1.35%
Wheat Sep 2015 503.25 +11 +2.23%
Wheat Dec 2015 509 +11.75 +2.36%
Wheat Mar 2016 514.75 +11 +2.18%
Wheat May 2016 519.25 +10.25 +2.01%
Wheat Jul 2016 522.5 +10 +1.95%
Minneapolis
Spring Wheat Sep 2015 518.25 +8.75 +1.72%
Spring Wheat Dec 2015 534 +8.25 +1.57%
Spring Wheat Mar 2016 550.5 +8 +1.47%
Spring Wheat May 2016 560.75 +6.75 +1.22%
Spring Wheat Jul 2016 570.75 +6 +1.06%
Kansas City
Hard Red Wheat Sep 2015 485.25 +10 +2.10%
Hard Red Wheat Dec 2015 506.25 +9.75 +1.96%
Hard Red Wheat Mar 2016 520.25 +9.25 +1.81%
Hard Red Wheat May 2016 530.5 +9 +1.73%
Hard Red Wheat Jul 2016 540.5 +9 +1.69%
