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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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 2015Â Â Â Â Â Â 465.00Â Â Â Â Â Â +2.10Â Â Â Â Â Â +0.45%
Canola Jul 2015Â Â Â Â Â Â 461.00Â Â Â Â Â Â +1.60Â Â Â Â Â Â +0.35%
Canola Nov 2015Â Â Â Â Â Â 449.50Â Â Â Â Â Â +0.50Â Â Â Â Â Â +0.11%
Canola Jan 2016Â Â Â Â Â Â 451.00Â Â Â Â Â Â +0.90Â Â Â Â Â Â +0.20%
Canola Mar 2016Â Â Â Â Â Â 453.20Â Â Â Â Â Â +0.50Â Â Â Â Â Â +0.11%
Milling Wheat May 2015Â Â Â Â Â Â 239.00Â Â Â Â Â Â -2.00Â Â Â Â Â Â -0.83%
Milling Wheat Jul 2015Â Â Â Â Â Â 240.00Â Â Â Â Â Â -3.00Â Â Â Â Â Â -1.23%
Milling Wheat Oct 2015Â Â Â Â Â Â 244.00Â Â Â Â Â Â -2.00Â Â Â Â Â Â -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 2015Â Â Â Â Â Â 961.75Â Â Â Â Â Â -3.25Â Â Â Â Â Â -0.34%
Soybeans Jul 2015Â Â Â Â Â Â 966.75Â Â Â Â Â Â -3Â Â Â Â Â Â -0.31%
Soybeans Aug 2015Â Â Â Â Â Â 966Â Â Â Â Â Â -3.25Â Â Â Â Â Â -0.34%
Soybeans Sep 2015Â Â Â Â Â Â 952.5Â Â Â Â Â Â -4Â Â Â Â Â Â -0.42%
Soybeans Nov 2015Â Â Â Â Â Â 946.25Â Â Â Â Â Â -4.5Â Â Â Â Â Â -0.47%
Soybeans Jan 2016Â Â Â Â Â Â 951Â Â Â Â Â Â -4.5Â Â Â Â Â Â -0.47%
Soybean Meal May 2015Â Â Â Â Â Â 319.3Â Â Â Â Â Â -1.5Â Â Â Â Â Â -0.47%
Soybean Meal Jul 2015Â Â Â Â Â Â 317.3Â Â Â Â Â Â -1.7Â Â Â Â Â Â -0.53%
Soybean Meal Aug 2015Â Â Â Â Â Â 316.1Â Â Â Â Â Â -1.6Â Â Â Â Â Â -0.50%
Soybean Oil May 2015Â Â Â Â Â Â 30.62Â Â Â Â Â Â -0.01Â Â Â Â Â Â -0.03%
Soybean Oil Jul 2015      30.83      unch      0.00%
Soybean Oil Aug 2015      30.9      unch      0.00%
Corn May 2015Â Â Â Â Â Â 373.5Â Â Â Â Â Â -1.25Â Â Â Â Â Â -0.33%
Corn Jul 2015Â Â Â Â Â Â 381.5Â Â Â Â Â Â -1.25Â Â Â Â Â Â -0.33%
Corn Sep 2015Â Â Â Â Â Â 389.5Â Â Â Â Â Â -1Â Â Â Â Â Â -0.26%
Corn Dec 2015Â Â Â Â Â Â 399Â Â Â Â Â Â -1Â Â Â Â Â Â -0.25%
Corn Mar 2016Â Â Â Â Â Â 408.5Â Â Â Â Â Â -1Â Â Â Â Â Â -0.24%
Oats May 2015Â Â Â Â Â Â 273Â Â Â Â Â Â -0.25Â Â Â Â Â Â -0.09%
Oats Jul 2015Â Â Â Â Â Â 274.75Â Â Â Â Â Â -0.75Â Â Â Â Â Â -0.27%
Oats Sep 2015Â Â Â Â Â Â 276.75Â Â Â Â Â Â -0.5Â Â Â Â Â Â -0.18%
Oats Dec 2015Â Â Â Â Â Â 277.75Â Â Â Â Â Â -1.75Â Â Â Â Â Â -0.63%
Oats Mar 2016Â Â Â Â Â Â 282.75Â Â Â Â Â Â -0.5Â Â Â Â Â Â -0.18%
Wheat May 2015Â Â Â Â Â Â 512Â Â Â Â Â Â +1.25Â Â Â Â Â Â +0.24%
Wheat Jul 2015Â Â Â Â Â Â 515.75Â Â Â Â Â Â +1.5Â Â Â Â Â Â +0.29%
Wheat Sep 2015Â Â Â Â Â Â 524.75Â Â Â Â Â Â +0.75Â Â Â Â Â Â +0.14%
Wheat Dec 2015      538.5      unch      0.00%
Wheat Mar 2016Â Â Â Â Â Â 551.5Â Â Â Â Â Â -0.25Â Â Â Â Â Â -0.05%
Minneapolis
Spring Wheat May 2015Â Â Â Â Â Â 572.75Â Â Â Â Â Â -5.25Â Â Â Â Â Â -0.91%
Spring Wheat Jul 2015Â Â Â Â Â Â 577.25Â Â Â Â Â Â -5Â Â Â Â Â Â -0.86%
Spring Wheat Sep 2015Â Â Â Â Â Â 585Â Â Â Â Â Â -5.25Â Â Â Â Â Â -0.89%
Spring Wheat Dec 2015Â Â Â Â Â Â 595.25Â Â Â Â Â Â -4.75Â Â Â Â Â Â -0.79%
Spring Wheat Mar 2016Â Â Â Â Â Â 606.5Â Â Â Â Â Â -5.25Â Â Â Â Â Â -0.86%
Kansas City
Hard Red Wheat May 2015Â Â Â Â Â Â 550.25Â Â Â Â Â Â -2.75Â Â Â Â Â Â -0.50%
Hard Red Wheat Jul 2015Â Â Â Â Â Â 556Â Â Â Â Â Â -2.75Â Â Â Â Â Â -0.49%
Hard Red Wheat Sep 2015Â Â Â Â Â Â 567.5Â Â Â Â Â Â -3Â Â Â Â Â Â -0.53%
Hard Red Wheat Dec 2015Â Â Â Â Â Â 583.25Â Â Â Â Â Â -3.25Â Â Â Â Â Â -0.55%
Hard Red Wheat Mar 2016Â Â Â Â Â Â 595.25Â Â Â Â Â Â -3.25Â Â Â Â Â Â -0.54%
