Canola on Thursday gave back most of the ground it had gained in the past two days, with downward pressure from falling U.S. soybeans and a slightly stronger Canadian dollar.
Severe hailstorms caused local damage to crops in Alberta and Saskatchewan in the past two days.
The trade awaits the CWB canola production forecast on Friday.
November closed at $516.40, down $4.40 or 0.84 percent.
Soybean futures fell about one percent on generally good weather in the U.S. Midwest and poor weekly exports of soy meal.
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France’s wheat harvest rises 30 per cent but falls short of past average levels, Argus says
This year’s soft wheat crop in France, the European Union’s biggest producer, is expected to rise to 33.40 million metric tons, up 30 per cent from a rain-hit harvest last year, Argus Media said on Tuesday.
Wheat was the only crop to gain ground in the futures market.
The gain was mostly attributed to bargain buying and a technical bounce after 10 straight days of declines.
The U.S. dollar was a little weaker and that supported wheat futures.
The trade is also awaiting the CWB forecast on Canadian wheat production.
Argentine farmers are expected to plant 11.86 million acres with 2015-16 wheat, the agriculture ministry said in its monthly crop report on Thursday, citing dryness in some farm areas as the reason for reducing its previous estimate of 12.36 million acres.
Corn closed a fraction of a cent higher, supported by wheat, but gains were limited by the generally good weather in the Midwest as the crop goes through its yield-setting pollination stage.
Disappointing results and forecasts from Caterpillar and 3M weakened stock indexes.
Light crude oil nearby futures in New York were down 74 cents to US$48.45 per barrel.
The Canadian dollar at noon was US76.75 cents, down from 76.77 cents the previous trading day. The U.S. dollar at noon was C$1.3030.
The Toronto Stock Exchange’s S&P/TSX composite index closed down 41.75 points, or 0.29 percent, at 14,265.37.
The Dow Jones industrial average fell 118.92 points, or 0.67 percent, to 17,732.12, the S&P 500 lost 11.95 points, or 0.57 percent, to 2,102.2 and the Nasdaq Composite dropped 25.36 points, or 0.49 percent, to 5,146.41.
Winnipeg ICE Futures Canada dollars per tonne
Canola Nov 2015 516.40 -4.40 -0.84%
Canola Jan 2016 516.90 -4.30 -0.83%
Canola Mar 2016 514.20 -3.80 -0.73%
Canola May 2016 510.20 -3.80 -0.74%
Canola Jul 2016 504.70 -3.30 -0.65%
Milling Wheat Oct 2015 0.00 -3.00 -100.00%
Milling Wheat Dec 2015 0.00 -3.00 -100.00%
Milling Wheat Mar 2016 0.00 -3.00 -100.00%
Durum Wheat Oct 2015 0.00 unch 0.00%
Durum Wheat Dec 2015 0.00 unch 0.00%
Durum Wheat Mar 2016 0.00 unch 0.00%
Barley Oct 2015 0.00 unch 0.00%
Barley Dec 2015 0.00 unch 0.00%
Barley Mar 2016 0.00 unch 0.00%
American crop prices in cents US/bushel, soybean meal in $US/short ton, soy oil in cents US/pound
Chicago
Soybeans Aug 2015 1010 -10.75 -1.05%
Soybeans Sep 2015 986.25 -13.25 -1.33%
Soybeans Nov 2015 980.5 -15 -1.51%
Soybeans Jan 2016 986.25 -14.75 -1.47%
Soybeans Mar 2016 982 -12.5 -1.26%
Soybeans May 2016 972.75 -12.25 -1.24%
Soybean Meal Aug 2015 359 -4.5 -1.24%
Soybean Meal Sep 2015 348.1 -5.1 -1.44%
Soybean Meal Oct 2015 339.1 -6.2 -1.80%
Soybean Oil Aug 2015 31.19 -0.16 -0.51%
Soybean Oil Sep 2015 31.27 -0.15 -0.48%
Soybean Oil Oct 2015 31.36 -0.15 -0.48%
Corn Sep 2015 403.25 +0.5 +0.12%
Corn Dec 2015 413.75 +0.25 +0.06%
Corn Mar 2016 423.5 unch 0.00%
Corn May 2016 429.25 unch 0.00%
Corn Jul 2016 433.25 -0.5 -0.12%
Oats Sep 2015 236.5 +0.25 +0.11%
Oats Dec 2015 249 unch 0.00%
Oats Mar 2016 260 unch 0.00%
Oats May 2016 264.75 +0.25 +0.09%
Oats Jul 2016 265.75 +0.25 +0.09%
Wheat Sep 2015 521.5 +4.75 +0.92%
Wheat Dec 2015 528.75 +4.25 +0.81%
Wheat Mar 2016 535 +3.25 +0.61%
Wheat May 2016 539 +2.5 +0.47%
Wheat Jul 2016 540.5 +1.75 +0.32%
Minneapolis
Spring Wheat Sep 2015 552.75 +4.75 +0.87%
Spring Wheat Dec 2015 569.75 +4.5 +0.80%
Spring Wheat Mar 2016 585.5 +4.75 +0.82%
Spring Wheat May 2016 595.25 +4.25 +0.72%
Spring Wheat Jul 2016 603 +4.75 +0.79%
Kansas City
Hard Red Wheat Sep 2015 517 +4.75 +0.93%
Hard Red Wheat Dec 2015 537 +4.75 +0.89%
Hard Red Wheat Mar 2016 551.5 +4.75 +0.87%
Hard Red Wheat May 2016 560.25 +4.75 +0.86%
Hard Red Wheat Jul 2016 567.25 +4.5 +0.80%
