Canola closed higher with the November contract gaining on the January contract.
A lower loonie, following weaker than expected Canadian gross domestic product data for August, helped support canola futures.
November canola climbed $7.40 to $514.30 per tonne.
The most-active contract, January, rose only $1.80 to $518.70 per tonne.
Soybeans edged a penny a bushel higher and soy oil also edged higher.
But all three U.S. wheat markets were lower as was corn.
BRAZIL CONDITIONS
As of Oct. 26 Brazilian farmers had seeded 30 percent of their soybeans, which was 10 percentage points less than last year but roughly in line with the five-year average.
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A large part of central Brazil is forecast to get rain over the next seven days, which should help relieve dry soils in some areas.
U.S. WINTER WHEAT
The winter wheat crop is still being seeded in the U.S. but the USDA on Monday issued its first condition rating for the crop showing the overall condition was not as good as expected.
On a national basis, 52 percent of the winter wheat was good to excellent. Last year it was 58 percent good to excellent and the market expected a rating of 59 percent.
Kansas was just two points down from last year’s rating but Oklahoma was down eight points and Nebraska was down six points.
OUTSIDE MARKETS
Light crude oil nearby futures in New York were up 23 cents at US$54.38 per barrel. Oil is not at the highest level in two years on continued voluntary production limits by OPEC and larger than expected inventory drawdowns in the U.S.
In the afternoon, the Canadian dollar was trading around US77.52 cents, down from 77.96 cents the previous trading day. The U.S. dollar was C$1.2899.
Canadian GDP in August fell 0.1 percent when the market had expected a 0.1 percent increase.
The Toronto Stock Exchange’s S&P/TSX composite index rose 22.81 points, or 0.14 percent, to a record close of 16,025.59.
The Dow Jones Industrial Average rose 28.5 points, or 0.12 percent, to 23,377.24, the S&P 500 gained 2.4 points, or 0.09 percent, to 2,575.23 and the Nasdaq Composite added 28.71 points, or 0.43 percent, to 6,727.67.
Winnipeg ICE Futures Canada dollars per tonne
Canola Nov 17 514.30s +7.40 +1.46%
Canola Jan 18 518.70s +1.80 +0.35%
Canola Mar 18 525.10s +2.40 +0.46%
Canola May 18 529.10s +3.50 +0.67%
Canola Jul 18 531.80s +4.70 +0.89%
American crop prices in cents US/bushel, soybean meal in $US/short ton, soy oil in cents US/pound. Prices are displayed with fractions (2/8, 4/8, and 6/8) instead of decimals. -2 equals .25, -4 equals .50, -6 equals .75. The “s” means it is the settlement.
Chicago
Soybeans Nov 17 973-6s +1-0 +0.10%
Soybeans Jan 18 984-6s +0-2 +0.03%
Soybeans Mar 18 995-0s unch unch
Soybeans May 18 1004-2s +0-2 +0.02%
Soybeans Jul 18 1012-2s unch unch
Soybean Meal Dec 17 311.8s -0.5 -0.16%
Soybean Meal Jan 18 313.8s -0.5 -0.16%
Soybean Meal Mar 18 317.1s -0.3 -0.09%
Soybean Oil Dec 17 34.75s +0.07 +0.20%
Soybean Oil Jan 18 34.92s +0.08 +0.23%
Soybean Oil Mar 18 35.11s +0.06 +0.17%
Corn Dec 17 345-6s -3-0 -0.86%
Corn Mar 18 359-4s -3-2 -0.90%
Corn May 18 368-2s -3-2 -0.87%
Corn Jul 18 376-0s -3-0 -0.79%
Corn Sep 18 382-6s -3-0 -0.78%
Oats Dec 17 264-6s +1-4 +0.57%
Oats Mar 18 269-2s +1-2 +0.47%
Oats May 18 273-0s +0-6 +0.28%
Oats Jul 18 273-2s +1-0 +0.37%
Oats Sep 18 273-2s +1-0 +0.37%
Wheat Dec 17 418-4s -6-2 -1.47%
Wheat Mar 18 436-0s -7-0 -1.58%
Wheat May 18 449-2s -7-2 -1.59%
Wheat Jul 18 463-6s -7-0 -1.49%
Wheat Sep 18 479-4s -7-4 -1.54%
Minneapolis
Spring Wheat Dec 17 612-6s -5-6 -0.93%
Spring Wheat Mar 18 626-6s -4-4 -0.71%
Spring Wheat May 18 634-6s -3-6 -0.59%
Spring Wheat Jul 18 639-2s -3-6 -0.58%
Spring Wheat Sep 18 638-0s +0-2 +0.04%
Kansas City
Hard Red Wheat Dec 17 416-4s -5-2 -1.24%
Hard Red Wheat Mar 18 434-4s -5-2 -1.19%
Hard Red Wheat May 18 448-4s -5-2 -1.16%
Hard Red Wheat Jul 18 466-2s -6-0 -1.27%
Hard Red Wheat Sep 18 484-0s -6-4 -1.33%
Chicago livestock futures in US¢/pound, Pit trade
Live Cattle Oct 17 120.500s +0.925 +0.77%
Live Cattle Dec 17 125.625s +2.225 +1.80%
Live Cattle Feb 18 129.550s +2.100 +1.65%
Feeder Cattle Nov 17 159.425s +1.100 +0.69%
Feeder Cattle Jan 18 159.575s +2.225 +1.41%
Feeder Cattle Mar 18 156.075s +1.950 +1.27%
Lean Hogs Dec 17 68.000s +2.825 +4.33%
Lean Hogs Feb 18 73.000s +1.950 +2.74%
Lean Hogs Apr 18 74.900s +0.300 +0.40%
