Canola futures fell for a third straight day, weighed down by falling soy oil and commercial hedging.
It generally was a down day in the crop markets with only soy meal edging higher.
Chicago and Kansas winter wheat contracts fell more than one percent. Minneapolis spring wheat also fell, but the decline was not a bad.
The nearby soybean contract was little changed while corn slipped 0.34 percent.
WATCH OUR WEEKLY CROP MARKETS VIDEO
Read Also
Alberta crop conditions improve: report
Varied precipitation and warm temperatures were generally beneficial for crop development across Alberta during the week ended July 8, according to the latest provincial crop report released July 11.
For the week, the March canola contract dipped $1.70 a tonne or 0.3 percent from the previous Friday.
Soybeans fell 18.25 cents a bushel or 1.7 percent and soy oil fell 2.5 percent.
Corn fell 7.25 cents or two percent.
Minneapolis spring wheat fell 8.5 cents or 1.5 percent.
CANOLA DEMAND
The weekly canola crush rebounded by almost 18 percent from the previous week. It came in at 185,576 tonnes or 86.8 percent of capacity.
The total to date is 4.51 million tonnes, up from 39.6 million at the same point last year.
Canola exports were 238,700 tonnes down from 378,900 tonnes last week.
But the export pace is still ahead of last year’s record pace. To date 4.94 million tonnes have been shipped, u from 4.66 million last year.
WHEAT DEMAND
It was a slower week for Canadian wheat exports with only 145,600 tonnes shipped, down from 191,000 the week before.
So far this year shipments stand at 6.56 million tonnes, down from 8.12 million last year at the same point.
SOUTH AMERICA
The weather is somewhat more favourable for progressing crops.
It has been raining in northern soybean areas in Brazil, delaying the harvest there and creating worries about disease although the situation in not yet considered serious.
Areas of Argentina that had too much rain are improving with drier weather.
BLACK SEA REGION
Cold weather is washing over the region but more winter wheat is protected under a blanket of snow. Small areas in southern Ukraine and Russia have less snow and could be susceptible to winter kill.
U.S. ECONOMY
The U.S. economy in the fourth quarter grew at a 1.9 percent annual rate, down from 3.5 percent in the third quarter when booming soybean exports helped to lift the number.
For the whole year, the US grew at 1.6 percent its worst performance since 2011.
Light crude oil nearby futures in New York were down 61 cents to US$53.17 per barrel.
The Canadian dollar at noon was US76.29 cents, down from 76.31 cents the previous trading day. The U.S. dollar at noon was C$1.3108.
The Toronto Stock Exchange’s S&P/TSX composite index closed down 39.71 points, or 0.25 percent, at 15,575.81.
The Dow Jones Industrial Average fell 7.13 points, or 0.04 percent, to 20,093.78, the S&P 500 lost 1.99 points, or 0.09 percent, to 2,294.69 and the Nasdaq Composite added 5.61 points, or 0.1 percent, to 5,660.78.
For the week, the TSX composite rose 0.2 percent, the Dow was up 1.3 percent, the S&P 500 gained one percent and the Nasdaq climbed 1.9 percent.
Winnipeg ICE Futures Canada dollars per tonne
Canola Mar 2017 517.90 -2.40 -0.46%
Canola May 2017 524.40 -2.80 -0.53%
Canola Jul 2017 527.60 -3.60 -0.68%
Canola Nov 2017 505.10 -1.30 -0.26%
Canola Jan 2018 509.40 -1.10 -0.22%
Milling Wheat Mar 2017 234.00 -3.00 -1.27%
Milling Wheat May 2017 239.00 +1.00 +0.42%
Milling Wheat Jul 2017 240.00 +1.00 +0.42%
Durum Wheat Mar 2017 302.00 unch 0.00%
Durum Wheat May 2017 305.00 unch 0.00%
Durum Wheat Jul 2017 314.00 unch 0.00%
Barley Mar 2017 139.00 unch 0.00%
Barley May 2017 141.00 unch 0.00%
Barley Jul 2017 142.00 unch 0.00%
American crop prices in cents US/bushel, soybean meal in $US/short ton, soy oil in cents US/pound
Chicago
Soybeans Mar 2017 1049.25 -0.25 -0.02%
Soybeans May 2017 1058.75 -0.25 -0.02%
Soybeans Jul 2017 1065.50 -0.25 -0.02%
Soybeans Aug 2017 1062.75 +0.25 +0.02%
Soybeans Sep 2017 1043.50 +1.00 +0.10%
Soybeans Nov 2017 1025.25 +2.00 +0.20%
Soybean Meal Mar 2017 343.00 +0.60 +0.18%
Soybean Meal May 2017 346.00 +0.50 +0.14%
Soybean Meal Jul 2017 348.10 +0.60 +0.17%
Soybean Oil Mar 2017 34.27 -0.20 -0.58%
Soybean Oil May 2017 34.55 -0.19 -0.55%
Soybean Oil Jul 2017 34.80 -0.18 -0.51%
Corn Mar 2017 362.50 -1.25 -0.34%
Corn May 2017 369.75 -1.25 -0.34%
Corn Jul 2017 376.50 -1.50 -0.40%
Corn Sep 2017 383.00 -1.25 -0.33%
Corn Dec 2017 389.25 -1.50 -0.38%
Oats Mar 2017 253.25 -2.00 -0.78%
Oats May 2017 245.75 -1.50 -0.61%
Oats Jul 2017 241.75 -2.25 -0.92%
Oats Sep 2017 239.25 unch 0.00%
Oats Dec 2017 230.00 -2.75 -1.18%
Wheat Mar 2017 420.50 -6.50 -1.52%
Wheat May 2017 434.50 -6.00 -1.36%
Wheat Jul 2017 449.25 -5.75 -1.26%
Wheat Sep 2017 464.00 -5.75 -1.22%
Wheat Dec 2017 481.75 -5.00 -1.03%
Minneapolis
Spring Wheat Mar 2017 560.00 -6.75 -1.19%
Spring Wheat May 2017 556.00 -2.50 -0.45%
Spring Wheat Jul 2017 555.75 -2.50 -0.45%
Spring Wheat Sep 2017 556.25 -3.50 -0.63%
Spring Wheat Dec 2017 562.50 -3.25 -0.57%
Kansas City
Hard Red Wheat Mar 2017 434.25 -6.00 -1.36%
Hard Red Wheat May 2017 446.50 -6.00 -1.33%
Hard Red Wheat Jul 2017 458.50 -6.00 -1.29%
Hard Red Wheat Sep 2017 472.75 -6.00 -1.25%
Hard Red Wheat Dec 2017 493.25 -5.75 -1.15%
Chicago livestock futures in US¢/pound (rounded to two decimal places)
Live Cattle (P) Feb 2017 118.32 -0.38 -0.32%
Live Cattle (P) Apr 2017 117.32 -0.26 -0.22%
Live Cattle (P) Jun 2017 106.98 -0.22 -0.21%
Feeder Cattle (P) Mar 2017 127.45 +0.35 +0.28%
Feeder Cattle (P) Apr 2017 126.75 unch 0.00%
Feeder Cattle (P) May 2017 125.12 -0.03 -0.02%
Lean Hogs (P) Feb 2017 66.90 +1.05 +1.59%
Lean Hogs (P) Apr 2017 68.30 +1.08 +1.61%
Lean Hogs (P) May 2017 72.92 +0.80 +1.11%
