May canola edged higher Friday even while soybeans drifted lower, but over the week May canola fell $8 a tonne.
Old crop canola rose today on bear spreading, buying by exporters and slow farmer selling, but new crop November was down.
May closed at $454 up 70 cents or 0.15 percent.
November closed at $443.30, down 70 cents of 0.16 perent
For the week May was down $8 a tonne and November fell $11.20.
The surge in weekly canola crush of a few weeks ago has cooled.
The Canadian Oilseed Processors Association said members crushed 133,039 tonnes of canola in the week ending April 8, down 4.2 percent from the week before.
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That represented a capacity use of about 73 percent, compared to the average of the year to date of a little more than 82 percent.
Canadian feed barley cash prices have surged in Alberta since the start of April. Surprise export demand shorted the supply available to domestic feedlots, driving the price up.
The average southern Alberta feed barley price for the week ending April 3 jumped to about $193 a tonne from about $171 the week before, according to data from the Alberta Wheat Commission.
The Alberta Canola Growers’s weekly grain price report said barley in southern Alberta in the week ending April 10 was $188.56, up from $157.27 the week before.
The price in north east Alberta was $173.69, up from 159.36 the week before.
Soybeans drifted lower Friday onstrong competition from South America and on ample world supply as confirmed by Thursday’s USDA monthly supply and demand report.
Brazil’s government crop supply agency Conab raised its forecast for the mostly harvested 2014-15 soybean crop to 94.28 million tonnes from 93.26 million tonnes in March on Friday.
USDA’s outlook is 94.5 million tonnes for Brazil.
For the week, CBOT May soybeans fell 3.4 percent.
May soymeal futures were down 5.5 percent on the week and May soyoil was 0.2 percent higher.
Wheat futures rose on short covering and some risk management just in case rain forecast for this weekend does not reach the driest areas of the U.S. southern Plains.
For the week, the benchmark Chicago Board of Trade May soft red winter wheat contract fell 1.7 percent. KCBT May hard red winter wheat was four percent lower, dragged down by the forecast for grain, and MGEX spring wheat dropped 2.3 percent.
U.S. corn futures continued to drift lower as they have for most of the week on ample supply and strong competition.
For the week, corn shed about 2.5 percent after losing one percent in the previous week.
As of April 3 the West Coast price for No. 1 durum 13 percent protein price was $536.21, down $26.63 and the St. Lawrence price fell to $481.99, down $18.74.
We have more in this story elsewhere in Daily News: Durum down hard in latest port price report.
The wettest March in 48 years has caused extensive damage to India’s pulse crops as evidenced by rising prices, says an analyst.
Read more on this story by clicking here: Record rainfall challenges Indian crops
Light crude oil nearby futures in New York were up 85 cents to US$51.64 per barrel.
The Canadian dollar at noon was US79.40 cents, down from 79.49 cents the previous trading day. The U.S. dollar at noon was C$1.2595.
Canada’s main stock index closed higher on Friday for its seventh straight gain, buoyed in part by resource stocks that benefited from higher commodity prices, Reuters reported.
Employment in Canada rose by 28,700 jobs last month as part-time positions increased but full time jobs decreased. The unemployment rate stayed at 6.8 percent in March
Analysts had expected no job increase as the economy reels from falling oil prices. The report led traders to expect that the Bank of Canada will not cut interest rates at its next meeting.
The Toronto Stock Exchange’s S&P/TSX composite index unofficially ended up 62.12 points, or 0.41 percent, at 15,388.43.
The Dow Jones industrial average rose 98.92 points, or 0.55 percent, to 18,057.65, the S&P 500 gained 10.89 points, or 0.52 percent, to 2,102.07 and the Nasdaq Composite added 21.41 points, or 0.43 percent, to 4,995.98.
For the week, the TSX composite rose 2.4 percent, the Dow was up 1.6 percent, the S&P 500 up 1.7 percent and the Nasdaq was up 2.2 percent.
Winnipeg ICE Futures Canada dollars per tonne
Canola May 2015 454.00 +0.70 +0.15%
Canola Jul 2015 454.50 +1.80 +0.40%
Canola Nov 2015 443.30 -0.70 -0.16%
Canola Jan 2016 444.30 -0.20 -0.04%
Canola Mar 2016 443.80 -0.20 -0.05%
Milling Wheat May 2015 238.00 +3.00 1.28%
Milling Wheat Jul 2015 235.00 +3.00 +1.29%
Milling Wheat Oct 2015 236.00 +3.00 +1.29%
Durum Wheat May 2015 323.00 unch 0.00%
Durum Wheat Jul 2015 313.00 unch 0.00%
Durum Wheat Oct 2015 318.00 unch 0.00%
Barley May 2015 205.00 unch 0.00%
Barley Jul 2015 205.00 +1.00 +0.49%
Barley Oct 2015 190.00 +1.00 +0.53%
American crop prices in cents US/bushel, soybean meal in $US/short ton, soy oil in cents US/pound
Chicago
Soybeans May 2015 951.5 -2 -0.21%
Soybeans Jul 2015 956 -2.25 -0.23%
Soybeans Aug 2015 955 -2.25 -0.24%
Soybeans Sep 2015 946.75 -3.25 -0.34%
Soybeans Nov 2015 942.5 -2.75 -0.29%
Soybeans Jan 2016 948.5 -3 -0.32%
Soybean Meal May 2015 309.2 -2.9 -0.93%
Soybean Meal Jul 2015 309.6 -2.4 -0.77%
Soybean Meal Aug 2015 309 -2.6 -0.83%
Soybean Oil May 2015 31.09 +0.25 +0.81%
Soybean Oil Jul 2015 31.29 +0.26 +0.84%
Soybean Oil Aug 2015 31.34 +0.23 +0.74%
Corn May 2015 377 -1 -0.26%
Corn Jul 2015 384.75 -1 -0.26%
Corn Sep 2015 392.5 -1 -0.25%
Corn Dec 2015 402.5 -1 -0.25%
Corn Mar 2016 412.75 -1 -0.24%
Oats May 2015 266.5 -2.5 -0.93%
Oats Jul 2015 268.5 -3 -1.10%
Oats Sep 2015 273 -2 -0.73%
Oats Dec 2015 276.5 -1.5 -0.54%
Oats Mar 2016 284 -0.5 -0.18%
Wheat May 2015 526.5 +7.75 +1.49%
Wheat Jul 2015 524 +6.5 +1.26%
Wheat Sep 2015 532.5 +7 +1.33%
Wheat Dec 2015 546.5 +6.5 +1.20%
Wheat Mar 2016 560.5 +6.25 +1.13%
Minneapolis
Spring Wheat May 2015 581 +7 +1.22%
Spring Wheat Jul 2015 586.5 +7.5 +1.30%
Spring Wheat Sep 2015 592.75 +7.25 +1.24%
Spring Wheat Dec 2015 603.75 +7.5 +1.26%
Spring Wheat Mar 2016 615.75 +8.25 +1.36%
Kansas City
Hard Red Wheat May 2015 558.75 +7.25 +1.31%
Hard Red Wheat Jul 2015 562.5 +6.25 +1.12%
Hard Red Wheat Sep 2015 573.75 +6 +1.06%
Hard Red Wheat Dec 2015 589.5 +6 +1.03%
Hard Red Wheat Mar 2016 601 +5.75 +0.97%
