It was a day of consolidation and modest profit taking in crop markets on Wednesday and markets closed with little change in prices after several days of somewhat volatile trade.
May canola edged slightly higher but most-traded July and new crop November were slightly lower.
Commercial hedging pressure weighed down most canola contracts. Also soy oil was lower even though crude oil was up.
Losses in canola were limited by a slight uptick in soybean futures.
Click here to watch this week’s markets wrap, including La Nina watch
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Analysts in Argentina say the torrential rain that fell on the crop as it was about to be harvested has knocked soybean production down by five million tonnes.
That could cause international buyers to turn to the United States for supply.
Wheat fell as rain bathed U.S. winter wheat regions, which are already in mostly good condition.
Corn was under pressure from forecasts for rain in parched Brazil, where the second corn crop has been stressed by recent dry weather.
Light crude oil nearby futures in New York were up $1.29 to US$45.33 per barrel.
The Canadian dollar at noon was US79.15 cents, down from 79.28 cents the previous trading day. The U.S. dollar at noon was C$1.2635.
The U.S. Federal Reserve kept interest rates unchanged at its meeting today It kept the door open for a possible increase in June but did not appear to be in a hurry to raise rates.
The S&P/TSX composite index closed up 78.22 points, or 0.57 percent, at 13,887.66.
Apple shares fell six percent on the first revenue decline in more than a decade, but after the markets closed Facebook announced stronger than expected results.
The Dow Jones industrial average rose 51.23 points, or 0.28 percent, to 18,041.55, the S&P 500 gained 3.45 points, or 0.16 percent, to 2,095.15 and the Nasdaq Composite fell 25.14 points, or 0.51 percent, to 4,863.14.
Winnipeg ICE Futures Canada dollars per tonne
Canola May 2016 499.50 +0.40 +0.08%
Canola Jul 2016 498.70 -2.30 -0.46%
Canola Nov 2016 490.80 -2.10 -0.43%
Canola Jan 2017 494.50 -2.00 -0.40%
Canola Mar 2017 496.40 -2.00 -0.40%
Milling Wheat May 2016 237.00 -2.00 -0.84%
Milling Wheat Jul 2016 235.00 -2.00 -0.84%
Milling Wheat Oct 2016 231.00 -1.00 -0.43%
Durum Wheat May 2016 297.00 unch 0.00%
Durum Wheat Jul 2016 294.00 unch 0.00%
Durum Wheat Oct 2016 290.00 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 1019 +1.25 +0.12%
Soybeans Jul 2016 1028.5 +1.25 +0.12%
Soybeans Aug 2016 1027.75 unch 0.00%
Soybeans Sep 2016 1014 -3 -0.29%
Soybeans Nov 2016 1003.5 -5.5 -0.55%
Soybeans Jan 2017 1004.25 -6.5 -0.64%
Soybean Meal May 2016 325.2 +1.9 +0.59%
Soybean Meal Jul 2016 328.3 +1.7 +0.52%
Soybean Meal Aug 2016 328 +1.4 +0.43%
Soybean Oil May 2016 33.62 -0.32 -0.94%
Soybean Oil Jul 2016 33.87 -0.34 -0.99%
Soybean Oil Aug 2016 33.99 -0.33 -0.96%
Corn May 2016 380.75 -1.5 -0.39%
Corn Jul 2016 384.75 -2.5 -0.65%
Corn Sep 2016 385.5 -3.25 -0.84%
Corn Dec 2016 390.5 -4 -1.01%
Corn Mar 2017 399.5 -4.5 -1.11%
Oats May 2016 196 +0.25 +0.13%
Oats Jul 2016 208.25 +2.75 +1.34%
Oats Sep 2016 216.25 +2.5 +1.17%
Oats Dec 2016 223.5 +2.5 +1.13%
Oats Mar 2017 233.75 +2.5 +1.08%
Wheat May 2016 474.25 -5.5 -1.15%
Wheat Jul 2016 483.5 -4.25 -0.87%
Wheat Sep 2016 493.25 -4 -0.80%
Wheat Dec 2016 510.25 -3.75 -0.73%
Wheat Mar 2017 526 -2.75 -0.52%
Minneapolis
Spring Wheat May 2016 533.5 -0.5 -0.09%
Spring Wheat Jul 2016 542.5 -0.25 -0.05%
Spring Wheat Sep 2016 550.75 +0.75 +0.14%
Spring Wheat Dec 2016 561 +0.5 +0.09%
Spring Wheat Mar 2017 570.5 +0.75 +0.13%
Kansas City
Hard Red Wheat May 2016 464 -2.25 -0.48%
Hard Red Wheat Jul 2016 476.5 -1.5 -0.31%
Hard Red Wheat Sep 2016 491.75 -0.75 -0.15%
Hard Red Wheat Dec 2016 515.5 -0.5 -0.10%
Hard Red Wheat Mar 2017 529.75 unch 0.00%
