Canola climbs again on disciplined farmer selling

Twitter @ darcemcmillan

Canola futures rose for a fourth straight session, supported by stronger soy markets and disciplined farmer selling.

January canola gained $4.80 to $433.90 per tonne, reaching a two-week high.

Soybeans, meal and oil also rose, as did corn.

Wheat futures fell.

Soybeans were supported by the strong pace of exports and good soymeal demand.

Traders in the U.S. crop markets were positioning ahead of Wednesday’s U.S. Department of Agriculture monthly supply and demand reports.

Prairie Wheat Weekly: U.S. futures lift Western Canadian bids

A rally in U.S. soybean futures spilled over into wheat on both sides of the border during the week ended Oct. 28, 2025.

The reports are expected to lower soybean ending stocks reflecting strong exports of the oilseed, but raise corn and wheat ending stock forecasts because of disappointing exports so far this year.

Soyoil was supported by tightening U.S. cash soyoil stocks, reflecting poor oil yields in the 2014 harvest.

Corn rose today on short covering and positioning ahead of the USDA report.

Some traders think U.S. corn is competitively priced and that could support stronger exports in the future.

South American weather is generally favourable for crops and that limited gains. More rain is forecast for Brazil over the next two weeks.

Wheat contracts in all three exchanges fell on technical selling, diminishing worries about Russia curbing grain exports and strong competition from French wheat.

Russia is not discussing grain export restrictions, Interfax news agency quoted deputy prime minister Arkady Dvorkovich as saying. SovEcon, a private consulting firm, said Russia’s grain exports will remain at high levels in December, fueled by a weaker rouble, Reuters reported.

Australia’s government cut its forecast of 2014-15 wheat exports to 16.99 million tonnes, down six percent from its previous view. Last year it exported 18.3 million tonnes.

Last week, Australia pegged its wheat crop at 23.2 million tonnes, down a million tonnes from a previous forecast because of dry, hot weather.

Light crude oil nearby futures in New York rose 77 cents to US$63.82 per barrel.

The Canadian dollar at noon was US87.55 cents, up from 87.17 cents the previous trading day. The U.S. dollar at noon was C$1.1422.

Stock market investors were nervous about the plunge in oil prices to five year lows before the slight recovery today and also political turmoil in Greece

The Greek government moved forward the date of a vote on a new president. It is a political gamble. If the government can’t get opposition lawmakers to support its choice it might force a a parliamentary election that anti-austerity party Syriza would be favoured to win, raising the potential of throwing the country back into financial turmoil.

U.S. markets were were down in the morning but gains in technology and energy shares pared index losses.

The Toronto Stock Exchange composite rose 51.56 points or 0.36 percent to 14,195.73.

The Dow Jones industrial average fell 51.02 points, or 0.29 percent, to 17,801.46.

The S&P 500 lost 0.55 point, or 0.03 percent, to 2,059.76.

The Nasdaq Composite added 25.77 points, or 0.54 percent, to 4,766.47.

Winnipeg ICE Futures Canada dollars per tonne

Canola Jan 2015 433.90 +4.80 +1.12%

Canola Mar 2015 429.30 +2.90 +0.68%

Canola May 2015 430.90 +2.10 +0.49%

Canola Jul 2015 431.80 +1.00 +0.23%

Canola Nov 2015 429.30 +0.90 +0.21%

Milling Wheat Dec 2014 226.00 -5.00 -2.16%

Milling Wheat Mar 2015 234.00 -5.00 -2.09%

Milling Wheat May 2015 237.00 -5.00 -2.07%

Durum Wheat Dec 2014 356.50 unch 0.00%

Durum Wheat Mar 2015 357.50 unch 0.00%

Durum Wheat May 2015 357.50 unch 0.00%

Barley Dec 2014 174.00 unch 0.00%

Barley Mar 2015 177.00 unch 0.00%

Barley May 2015 179.00 unch 0.00%

American crop prices in cents US/bushel, soybean meal in $US/short ton, soy oil in cents US/pound

Chicago

Soybeans Jan 2015 1049.25 +5.5 +0.53%

Soybeans Mar 2015 1055.5 +5.75 +0.55%

Soybeans May 2015 1062 +6 +0.57%

Soybeans Jul 2015 1066.5 +5.75 +0.54%

Soybeans Aug 2015 1063.75 +5.25 +0.50%

Soybeans Sep 2015 1039.25 +4.25 +0.41%

Soybean Meal Dec 2014 411.6 +10.1 +2.52%

Soybean Meal Jan 2015 375.3 +5.2 +1.41%

Soybean Meal Mar 2015 361.7 +3.6 +1.01%

Soybean Oil Dec 2014 31.91 +0.14 +0.44%

Soybean Oil Jan 2015 31.99 +0.14 +0.44%

Soybean Oil Mar 2015 32.21 +0.14 +0.44%

Corn Dec 2014 383 +5.5 +1.46%

Corn Mar 2015 395.25 +5 +1.28%

Corn May 2015 403.75 +5 +1.25%

Corn Jul 2015 410.25 +5 +1.23%

Corn Sep 2015 415.5 +5.5 +1.34%

Oats Dec 2014 301 -3.75 -1.23%

Oats Mar 2015 313.5 -1 -0.32%

Oats May 2015 314.5 -0.25 -0.08%

Oats Jul 2015 315.5 unch 0.00%

Oats Sep 2015 314 unch 0.00%

Wheat Dec 2014 600.5 -9.5 -1.56%

Wheat Mar 2015 585.75 -12.25 -2.05%

Wheat May 2015 589.5 -12.5 -2.08%

Wheat Jul 2015 592.25 -11.25 -1.86%

Wheat Sep 2015 600.5 -10.75 -1.76%

Minneapolis

Spring Wheat Dec 2014 604 -13 -2.11%

Spring Wheat Mar 2015 608 -14 -2.25%

Spring Wheat May 2015 616.75 -12.75 -2.03%

Spring Wheat Jul 2015 624.75 -11.25 -1.77%

Spring Wheat Sep 2015 632.5 -11 -1.71%

Kansas City

Hard Red Wheat Dec 2014 617 -17 -2.68%

Hard Red Wheat Mar 2015 622 -17.25 -2.70%

Hard Red Wheat May 2015 627 -16.5 -2.56%

Hard Red Wheat Jul 2015 630.25 -13.25 -2.06%

Hard Red Wheat Sep 2015 640 -13.5 -2.07%

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