Canola notched another gain on Wednesday on the continuing concern about Prairie harvest delays and rising soybeans.
It was a drier day across much the Prairies today, but light moisture is expected in the coming days, mostly in the eastern half of the region.
Soybeans rose on word of new sales of U.S. product to China.
Gains were limited by the ongoing harvest of a record U.S. crop.
Traders will closely watch Thursday’s weekly USDA export sales report. They expect the soybean number will be huge.
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It was a generally up day for crop futures, helped by an influx of investment fund money. Funds are worried a U.S. interest rate increase in December could weigh down the stock market and are looking at agricultural commodities as a potential yield generator.
Soymeal futures surged more than three percent for their largest daily gains since June as traders unwound soymeal-soyoil spreads.
Wheat edged higher as Egypt made a large purchase, raising hopes that country has worked out its internal disputes over allowable ergot fungus levels. Egypt is one of the world’s largest wheat buyers.
Light crude oil nearby futures in New York were down 78 cents to US$49.18 per barrel.
The Canadian dollar at noon was US74.85 cents, down from 75.00 cents the previous trading day. The U.S. dollar at noon was C$1.3360.
The Toronto Stock Exchange’s S&P/TSX composite index fell 63.07 points, or 0.42 percent, at 14,807.56.
The Dow Jones industrial average rose 30.06 points, or 0.17 percent, to 18,199.33, the S&P 500 lost 3.73 points, or 0.17 percent, to 2,139.43 and the Nasdaq Composite dropped 33.13 points, or 0.63 percent, to 5,250.27.
Winnipeg ICE Futures Canada dollars per tonne
Canola Nov 2016 510.20 +3.20 +0.63%
Canola Jan 2017 518.20 +4.50 +0.88%
Canola Mar 2017 523.30 +4.30 +0.83%
Canola May 2017 525.80 +4.80 +0.92%
Canola Jul 2017 525.50 +6.10 +1.17%
Milling Wheat Dec 2016 237.00 +1.00 +0.42%
Milling Wheat Mar 2017 241.00 +1.00 +0.42%
Milling Wheat May 2017 245.00 +1.00 +0.41%
Durum Wheat Dec 2016 313.00 +4.00 +1.29%
Durum Wheat Mar 2017 318.00 0.00 +0.00%
Durum Wheat May 2017 322.00 0.00 +0.00%
Barley Dec 2016 132.50 unch 0.00%
Barley Mar 2017 134.50 unch 0.00%
Barley May 2017 135.50 unch 0.00%
American crop prices in cents US/bushel, soybean meal in $US/short ton, soy oil in cents US/pound
Chicago
Soybeans Nov 2016 1010.00 +19.25 +1.94%
Soybeans Jan 2017 1021.00 +18.75 +1.87%
Soybeans Mar 2017 1028.25 +18.75 +1.86%
Soybeans May 2017 1034.25 +18.00 +1.77%
Soybeans Jul 2017 1038.75 +17.50 +1.71%
Soybeans Aug 2017 1036.00 +16.25 +1.59%
Soybean Meal Dec 2016 319.10 +10.90 +3.54%
Soybean Meal Jan 2017 320.30 +10.70 +3.46%
Soybean Meal Mar 2017 321.50 +10.30 +3.31%
Soybean Oil Dec 2016 35.72 -0.08 -0.22%
Soybean Oil Jan 2017 35.96 -0.09 -0.25%
Soybean Oil Mar 2017 36.13 -0.09 -0.25%
Corn Dec 2016 354.00 +4.75 +1.36%
Corn Mar 2017 363.25 +4.25 +1.18%
Corn May 2017 370.00 +4.00 +1.09%
Corn Jul 2017 376.50 +4.00 +1.07%
Corn Sep 2017 382.75 +3.50 +0.92%
Oats Dec 2016 215.00 +3.00 +1.42%
Oats Mar 2017 211.75 +2.75 +1.32%
Oats May 2017 212.00 +2.00 +0.95%
Oats Jul 2017 214.00 +2.50 +1.18%
Oats Sep 2017 219.75 -0.25 -0.11%
Wheat Dec 2016 411.50 +7.25 +1.79%
Wheat Mar 2017 432.00 +5.25 +1.23%
Wheat May 2017 447.25 +4.50 +1.02%
Wheat Jul 2017 460.50 +4.75 +1.04%
Wheat Sep 2017 476.00 +5.25 +1.12%
Minneapolis
Spring Wheat Dec 2016 525.50 +1.50 +0.29%
Spring Wheat Mar 2017 531.00 +2.25 +0.43%
Spring Wheat May 2017 538.50 +3.50 +0.65%
Spring Wheat Jul 2017 544.75 +3.75 +0.69%
Spring Wheat Sep 2017 551.50 +4.25 +0.78%
Kansas City
Hard Red Wheat Dec 2016 417.00 +3.50 +0.85%
Hard Red Wheat Mar 2017 434.75 +3.25 +0.75%
Hard Red Wheat May 2017 446.50 +3.25 +0.73%
Hard Red Wheat Jul 2017 457.50 +3.75 +0.83%
Hard Red Wheat Sep 2017 471.25 +3.75 +0.80%
Chicago livestock futures in US¢/pound (rounded to two decimal places)
Live Cattle (P) Oct 2016 103.05 +0.33 +0.32%
Live Cattle (P) Dec 2016 104.40 +0.50 +0.48%
Live Cattle (P) Feb 2017 105.15 +0.60 +0.57%
Feeder Cattle (P) Oct 2016 121.97 +0.42 +0.35%
Feeder Cattle (P) Nov 2016 123.92 +1.27 +1.04%
Feeder Cattle (P) Jan 2017 118.35 +0.65 +0.55%
Lean Hogs (P) Dec 2016 44.20 -0.42 -0.94%
Lean Hogs (P) Feb 2017 51.12 -0.26 -0.51%
Lean Hogs (P) Apr 2017 58.68 -0.05 -0.09%