Canola futures fell Wednesday, battered by a general down trend in commodities triggered by disappointing reports on U.S. jobs and the service sector.
Slower end user demand also weighed on canola
Wheat futures rose on concerns about cold weather in Europe and indications that the U.S. will see new wheat export demand now that the price has fallen. There was talk China bought 10 cargoes of U.S. soft red winter wheat, traders told Reuters.
May canola closed at $620.40 down $4 and November closed at $557.90, down $1.40.
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U.S. grains: Corn futures edge up, soybeans sag on improving US crop ratings
Chicago Board of Trade corn futures extended slight gains on Tuesday as short covering and bargain buying continued to support a rebound from contract lows reached during the previous session.
Rain fell today in southern Oklahoma and central Texas, but is missing the western part of the hard red winter wheat region.
Soybeans fell, partly on worries that a new outbreak of avian flu in China might hurt soy meal feed demand.
Bunge said it is going to temporarily close a soybean crushing plant in Kansas because of tight stocks of soybeans.
U.S. crude oil fell 2.2 percent to hover below $95 a barrel after government data showed crude inventories at a 23-year high.
U.S. economy watchers are waiting for Friday’s government report on March employment.
Winnipeg ICE Futures Canada dollars per tonne
Canola May 2013 620.40 -4.00 -0.64%
Canola Jul 2013 607.60 -3.10 -0.51%
Canola Nov 2013 557.90 -1.40 -0.25%
Canola Jan 2014 558.40 -1.40 -0.25%
Canola Mar 2014 554.00 -2.30 -0.41%
Milling Wheat May 2013 292.00 unch 0.00%
Milling Wheat Jul 2013 294.00 unch 0.00%
Milling Wheat Oct 2013 294.00 unch 0.00%
Durum Wheat May 2013 311.00 unch 0.00%
Durum Wheat Jul 2013 314.00 unch 0.00%
Durum Wheat Oct 2013 299.30 unch 0.00%
Barley May 2013 243.50 unch 0.00%
Barley Jul 2013 244.00 unch 0.00%
Barley Oct 2013 244.00 unch 0.00%
U.S. crops in cents per bushel, soy meal in $US per short ton, soy oil in cents per pound.
Chicago
Soybeans May 2013 1380.25 -13.75 -0.99%
Soybeans Jul 2013 1357.75 -16.75 -1.22%
Soybeans Aug 2013 1326.75 -15.25 -1.14%
Soybeans Sep 2013 1271.25 -13.75 -1.07%
Soybeans Nov 2013 1232.5 -16.25 -1.30%
Soybeans Jan 2014 1238.25 -16.25 -1.30%
Soybean Meal May 2013 398 -4.1 -1.02%
Soybean Meal Jul 2013 394.8 -4.2 -1.05%
Soybean Meal Aug 2013 382.2 -4.5 -1.16%
Soybean Oil May 2013 49.15 -0.44 -0.89%
Soybean Oil Jul 2013 49.42 -0.46 -0.92%
Soybean Oil Aug 2013 49.46 -0.45 -0.90%
Corn May 2013 641.5 +1 +0.16%
Corn Jul 2013 630.25 +3 +0.48%
Corn Sep 2013 559 +4.25 +0.77%
Corn Dec 2013 539.5 +3 +0.56%
Corn Mar 2014 550.5 +3.75 +0.69%
Oats May 2013 362 -5.5 -1.50%
Oats Jul 2013 357 -6 -1.65%
Oats Sep 2013 342 -5.5 -1.58%
Oats Dec 2013 341.5 +0.25 +0.07%
Oats Mar 2014 350 +5 +1.45%
Chicago soft red winter
Wheat May 2013 696.5 +25.75 +3.84%
Wheat Jul 2013 701.25 +24 +3.54%
Wheat Sep 2013 710.25 +22.25 +3.23%
Wheat Dec 2013 725 +21.25 +3.02%
Wheat Mar 2014 739.5 +21 +2.92%
Minneapolis hard red spring
Spring Wheat May 2013 791.5 +15.25 +1.96%
Spring Wheat Jul 2013 789.5 +17.25 +2.23%
Spring Wheat Sep 2013 789.25 +17.25 +2.23%
Spring Wheat Dec 2013 800 +16.25 +2.07%
Spring Wheat Mar 2014 814.5 +16 +2.00%
Kansas City hard red winter
KCBT Red Wheat May 2013 735.25 +18.5 +2.58%
KCBT Red Wheat Jul 2013 742.5 +18.25 +2.52%
KCBT Red Wheat Sep 2013 754.75 +18 +2.44%
KCBT Red Wheat Dec 2013 772 +16.75 +2.22%
KCBT Red Wheat Mar 2014 785 +16.25 +2.11%
The Bank of Canada noon rate for the loonie was 98.68 cents US, up from 98.54 cents on Tuesday. The U.S. buck was $1.0134 Cdn.
Nearby crude oil in New York fell $2.74 to $94.45 per barrel.
Growing tension with North Korea added downward pressure to stock markets already pressued by disappointing U.S. data.
In an early tally, the Toronto Stock Exchange’s S&P/TSX composite index dropped 259.98 points, or 2.05 percent, at 12,422.12.
The Dow Jones industrial average fell 111.66 points, or 0.76 percent, at 14,550.35.
The Standard & Poor’s 500 Index fell 16.56 points, or 1.05 percent, at 1,553.69, its biggest daily percentage decline since February 25.
The Nasdaq Composite Index fell 36.26 points, or 1.11 percent, at 3,218.60.
