Canola futures were up slightly most of the trading day, but closed mixed with July dropping $2 per tonne and November up 90 cents.
Trade was in a narrow range after fairly strong gains on Wednesday.
Support came from concerns about unseeded acreage, damage from excess rains in several areas of Western Canada and slow crop development.
If you are looking to sell canola to a crusher, make sure to shop around because of wide variations in basis levels. Today the Louis Dreyfus crushing plant at Yorkton posted a +$5 basis for immediate delivery.
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Prairie Wheat Weekly Spring wheat prices decline
Western Canadian spring wheat prices were mostly lower, while those for durum were relatively steady during the week ended Aug. 14, 2025.
Support for canola futures also came from rising soybeans and corn futures.
The U.S. has its own excess moisture concerns with parts of Iowa, Minnesota, South Dakota and Nebraska that received five to 10 inches of rain in the past week, the equivalent of about two months of rainfall. More rain is expected in the coming days.
Some of the rise in corn and soybeans was also simply a technical rebound from oversold levels.
Saskatchewan Agriculture’s weekly crop report said that about 95 percent of the province’s crop was seeded as of June 16, up from 93 percent last week.
Last year, 98 percent of the crop was in the ground at this time.
Unfortunately there are pockets in the southeast where less than half the crop has been seeded due to the excess rain.
Reuters reports that the drought-reduced U.S. hard red winter wheat crop will likely mean U.S. millers will continue to show good demand for spring wheat from the northern Plains and Western Canada.
Old crop wheat prices advanced today.
The USDA forecasts U.S. wheat imports in the current crop year will be the largest ever at 170 million bushels or 4.63 million tonnes, almost all of it from Canada.
Statistics Canada figures show that this crop year, to the end of April, Canada has exported 2.44 million tonnes of wheat (ex durum), up 733,000 tonnes or 43 percent over the same period in 2012-13.
Durum exports to the U.S. stand at 597,425 tonnes, up 70 percent over the same period in the previous crop year.
Early harvest results from U.S. hard red winter crop show lower than expected yields in Texas, Oklahoma and southern Kansas and very high protein. However, there are concerns that recent and forecasted rain could hurt quality.
Winnipeg ICE Futures Canada dollars per tonne
Canola Jul 2014 476.80 -2.00 -0.42%
Canola Nov 2014 464.10 +0.90 +0.19%
Canola Jan 2015 469.10 +0.20 +0.04%
Canola Mar 2015 471.40 -0.50 -0.11%
Canola May 2015 473.20 -1.00 -0.21%
Milling Wheat Jul 2014 205.00 unch 0.00%
Milling Wheat Oct 2014 206.00 unch 0.00%
Milling Wheat Dec 2014 210.00 unch 0.00%
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 125.00 unch 0.00%
Barley Oct 2014 132.50 unch 0.00%
Barley Dec 2014 134.50 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 1420.75 +11.75 +0.83%
Soybeans Aug 2014 1369 +11.75 +0.87%
Soybeans Sep 2014 1263 +13.5 +1.08%
Soybeans Nov 2014 1227.25 +14.25 +1.17%
Soybeans Jan 2015 1234.25 +14.25 +1.17%
Soybeans Mar 2015 1240.5 +14.25 +1.16%
Soybean Meal Jul 2014 451.2 -2 -0.44%
Soybean Meal Aug 2014 436.1 -0.1 -0.02%
Soybean Meal Sep 2014 414 +3.4 +0.83%
Soybean Oil Jul 2014 40.61 +0.48 +1.20%
Soybean Oil Aug 2014 40.71 +0.47 +1.17%
Soybean Oil Sep 2014 40.69 +0.44 +1.09%
Corn Jul 2014 450.5 +9 +2.04%
Corn Sep 2014 444.25 +8.75 +2.01%
Corn Dec 2014 447.5 +8 +1.82%
Corn Mar 2015 457.75 +8 +1.78%
Corn May 2015 464.75 +7.5 +1.64%
Oats Jul 2014 347.25 +4.5 +1.31%
Oats Sep 2014 340.25 +8.5 +2.56%
Oats Dec 2014 339.25 +7.5 +2.26%
Oats Mar 2015 335.25 +6.5 +1.98%
Oats May 2015 328.75 +3 +0.92%
Wheat Jul 2014 593.5 +6.5 +1.11%
Wheat Sep 2014 602.5 +6.25 +1.05%
Wheat Dec 2014 623.75 +6 +0.97%
Wheat Mar 2015 642.75 +6 +0.94%
Wheat May 2015 654.5 +5.25 +0.81%
Minneapolis
Spring Wheat Jul 2014 703 +5.75 +0.82%
Spring Wheat Sep 2014 701.75 +1 +0.14%
Spring Wheat Dec 2014 712 -0.75 -0.11%
Spring Wheat Mar 2015 721.5 +0.25 +0.03%
Spring Wheat May 2015 726 -0.25 -0.03%
Kansas City
KC HRW Wheat Jul 2014 729.25 +1.5 +0.21%
KC HRW Wheat Sep 2014 726.75 -0.5 -0.07%
KC HRW Wheat Dec 2014 733 -0.75 -0.10%
KC HRW Wheat Mar 2015 735.25 -0.75 -0.10%
KC HRW Wheat May 2015 731.25 -1.5 -0.20%
Light crude oil nearby futures in New York rose 46 cents at $106.43 US per barrel.
The Canadian dollar at noon was 92.35 cents US, up from 92 cents the previous trading day. The U.S. dollar at noon was $1.0828 Cdn.
The TSX composite edged higher to a new record high, with support from Blackberry, which posted a quarterly profit, and stronger gold mining company shares.
The Toronto Stock Exchange’s S&P/TSX composite index closed up 2.97 points, or 0.02 percent, at 15,112.22.
The Dow Jones industrial average .DJI rose 14.84 points or 0.09 percent, to end at 16,921.46.
The S&P 500 gained 2.50 points or 0.13 percent, to close at a record high 1,959.48.
The Nasdaq Composite fell 3.51 points or 0.08 percent, to 4,359.33.
