Grain and oilseed futures changed by only a few cents per bushel on Thursday with currency exchange rates the main market mover.
The U.S. dollar, which fell sharply Wednesday following comments from the U.S. Federal Reserve, today gained back about half the ground lost yesterday. That put American crop markets on the defence.
Canola futures posted a minor gain although the loonie rose a fraction.
Other than that, there was little market moving news.
A forecast for rain over the next few days in the U.S. southern Plains, mostly in Texas and Oklahoma, weighed on wheat a little.
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Lentil prices on the Canadian Prairies eased back during the week ended July 28, said Levon Sargsyan, broker with Johnston’s Grain. Sargsyan noted that’s due to the recent rains that brought relief to some of the dry areas of the region.
Evidence of freeze injury in winter wheat from a cold spell last autumn is starting to show up in parts of northwest Kansas as the crop comes out of dormancy, an agronomist told Reuters.
It looks like the flooding that threatened soybean fields in Argentina caused little damage.
Sunny weather over the last week helped Argentine farmers reclaim soybean fields in the northern Pampas region that had been flooded by heavy February and early March rains, the Buenos Aires Grains Exchange said in its weekly update Reuters reported.
The exchange forecasts the soybean harvest at a record 57 million tonnes. Yesterday the country’s agriculture ministry forecast 58 million tonnes, unchanged from its last forecast.
USDA’s forecast if 56 million.
Brent crude oil fell back towards $54 a barrel after Kuwait said the Organization of Petroleum Exporting Countries had no choice but to keep production steady, refocusing the market on global oversupply.
Light crude oil nearby futures in New York were down 70 cents to US$43.96 per barrel.
The Canadian dollar at noon was US78.47 cents, up from 78.30 cents the previous trading day. The U.S. dollar at noon was C$1.2744.
The Toronto Stock Exchange’s S&P/TSX composite index closed down 88.31 points, or 0.59 percent, at 14,873.93. Seven of the 10 main sectors on the index were in the red.
The Dow Jones industrial average fell 103.78 points, or 0.57 percent, to 17,972.41, the S&P 500 lost 9.96 points, or 0.47 percent, to 2,089.54 and the Nasdaq Composite added 7.79 points, or 0.16 percent, to 4,990.62.
Winnipeg ICE Futures Canada dollars per tonne
Canola May 2015 465.00 +2.10 +0.45%
Canola Jul 2015 461.00 +1.60 +0.35%
Canola Nov 2015 449.50 +0.50 +0.11%
Canola Jan 2016 451.00 +0.90 +0.20%
Canola Mar 2016 453.20 +0.50 +0.11%
Milling Wheat May 2015 239.00 -2.00 -0.83%
Milling Wheat Jul 2015 240.00 -3.00 -1.23%
Milling Wheat Oct 2015 244.00 -2.00 -0.81%
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 188.00 unch 0.00%
Barley Jul 2015 190.00 unch 0.00%
Barley Oct 2015 181.00 unch 0.00%
American crop prices in cents US/bushel, soybean meal in $US/short ton, soy oil in cents US/pound
Chicago
Soybeans May 2015 961.75 -3.25 -0.34%
Soybeans Jul 2015 966.75 -3 -0.31%
Soybeans Aug 2015 966 -3.25 -0.34%
Soybeans Sep 2015 952.5 -4 -0.42%
Soybeans Nov 2015 946.25 -4.5 -0.47%
Soybeans Jan 2016 951 -4.5 -0.47%
Soybean Meal May 2015 319.3 -1.5 -0.47%
Soybean Meal Jul 2015 317.3 -1.7 -0.53%
Soybean Meal Aug 2015 316.1 -1.6 -0.50%
Soybean Oil May 2015 30.62 -0.01 -0.03%
Soybean Oil Jul 2015 30.83 unch 0.00%
Soybean Oil Aug 2015 30.9 unch 0.00%
Corn May 2015 373.5 -1.25 -0.33%
Corn Jul 2015 381.5 -1.25 -0.33%
Corn Sep 2015 389.5 -1 -0.26%
Corn Dec 2015 399 -1 -0.25%
Corn Mar 2016 408.5 -1 -0.24%
Oats May 2015 273 -0.25 -0.09%
Oats Jul 2015 274.75 -0.75 -0.27%
Oats Sep 2015 276.75 -0.5 -0.18%
Oats Dec 2015 277.75 -1.75 -0.63%
Oats Mar 2016 282.75 -0.5 -0.18%
Wheat May 2015 512 +1.25 +0.24%
Wheat Jul 2015 515.75 +1.5 +0.29%
Wheat Sep 2015 524.75 +0.75 +0.14%
Wheat Dec 2015 538.5 unch 0.00%
Wheat Mar 2016 551.5 -0.25 -0.05%
Minneapolis
Spring Wheat May 2015 572.75 -5.25 -0.91%
Spring Wheat Jul 2015 577.25 -5 -0.86%
Spring Wheat Sep 2015 585 -5.25 -0.89%
Spring Wheat Dec 2015 595.25 -4.75 -0.79%
Spring Wheat Mar 2016 606.5 -5.25 -0.86%
Kansas City
Hard Red Wheat May 2015 550.25 -2.75 -0.50%
Hard Red Wheat Jul 2015 556 -2.75 -0.49%
Hard Red Wheat Sep 2015 567.5 -3 -0.53%
Hard Red Wheat Dec 2015 583.25 -3.25 -0.55%
Hard Red Wheat Mar 2016 595.25 -3.25 -0.54%
