Canola edges higher Wednesday on snow, rain

Canola futures edged higher Wednesday, supported by snow and rain that stalled harvest in parts of Alberta and Saskatchewan.

Solid demand continues for the oilseed and the generally weak Canadian dollar also provides support, although the loonie did edge higher today.

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Soybeans did not help canola today. Soy drifted lower through the day’s trade.

U.S. crop futures generally fell as the trade thinks that the strong American dollar could discourage grain exports.

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Rapid American exports have offset the price-negative effect of a record large soybean crop. If exports fall off, then the trade’s attention will focus on the ample supply.

Also, Brazil’s soybean planting is going well and there is no weather problem. Early planted soybeans are already starting to bloom according to Soybean and Corn Advisor.

Planting in Argentina is behind schedule because of cool, wet conditions, it said.

The concern about the rising U.S. dollar’s effect on exports also weighed on corn and wheat.

Light crude oil nearby futures in New York were down 24 cents to US$45.57 per barrel.

The Canadian dollar at noon was US74.54 cents, up from 74.25 cents the previous trading day. The U.S. dollar at noon was C$1.3416.

The TSX composite fell 22.88 points or 0.16 percent to closed at 14,733.22.

The Dow Jones industrial average closed down 54.92 points, or 0.29 percent, to 18,868.14, the S&P 500 lost 3.45 points, or 0.16 percent, to 2,176.94 and the Nasdaq Composite added 18.96 points, or 0.36 percent, to 5,294.58.

Winnipeg ICE Futures Canada dollars per tonne

Canola Jan 2017 512.60 +1.50 +0.29%

Canola Mar 2017 519.60 +1.60 +0.31%

Canola May 2017 523.40 +2.30 +0.44%

Canola Jul 2017 524.50 +2.50 +0.48%

Canola Nov 2017 507.90 +1.20 +0.24%

Milling Wheat Dec 2016 230.00 +2.00 +0.88%

Milling Wheat Mar 2017 233.00 +1.00 +0.43%

Milling Wheat May 2017 236.00 unch 0.00%

Durum Wheat Dec 2016 329.00 unch 0.00%

Durum Wheat Mar 2017 340.00 unch 0.00%

Durum Wheat May 2017 343.00 unch 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 Jan 2017 985.75 -3.75 -0.38%

Soybeans Mar 2017 994.50 -3.50 -0.35%

Soybeans May 2017 1002.50 -3.00 -0.30%

Soybeans Jul 2017 1008.50 -2.25 -0.22%

Soybeans Aug 2017 1008.00 -2.00 -0.20%

Soybeans Sep 2017 996.25 -0.50 -0.05%

Soybean Meal Dec 2016 308.40 -1.70 -0.55%

Soybean Meal Jan 2017 310.70 -1.60 -0.51%

Soybean Meal Mar 2017 313.00 -1.40 -0.45%

Soybean Oil Dec 2016 34.10 -0.11 -0.32%

Soybean Oil Jan 2017 34.36 -0.10 -0.29%

Soybean Oil Mar 2017 34.61 -0.09 -0.26%

Corn Dec 2016 338.50 -3.00 -0.88%

Corn Mar 2017 346.50 -2.75 -0.79%

Corn May 2017 353.50 -3.00 -0.84%

Corn Jul 2017 360.25 -3.25 -0.89%

Corn Sep 2017 367.50 -2.75 -0.74%

Oats Dec 2016 233.50 +0.50 +0.21%

Oats Mar 2017 232.50 +1.00 +0.43%

Oats May 2017 229.75 +0.50 +0.22%

Oats Jul 2017 232.25 +0.75 +0.32%

Oats Sep 2017 227.50 +0.75 +0.33%

Wheat Dec 2016 397.00 -2.00 -0.50%

Wheat Mar 2017 414.25 -4.50 -1.07%

Wheat May 2017 428.00 -4.25 -0.98%

Wheat Jul 2017 442.75 -4.00 -0.90%

Wheat Sep 2017 458.75 -4.00 -0.86%

Minneapolis

Spring Wheat Dec 2016 518.50 +3.75 +0.73%

Spring Wheat Mar 2017 518.75 +0.75 +0.14%

Spring Wheat May 2017 524.50 unch 0.00%

Spring Wheat Jul 2017 531.00 -0.50 -0.09%

Spring Wheat Sep 2017 538.00 -1.00 -0.19%

Kansas City

Hard Red Wheat Dec 2016 403.50 -4.50 -1.10%

Hard Red Wheat Mar 2017 420.75 -4.75 -1.12%

Hard Red Wheat May 2017 432.75 -4.50 -1.03%

Hard Red Wheat Jul 2017 444.00 -4.50 -1.00%

Hard Red Wheat Sep 2017 458.50 -4.50 -0.97%

Chicago livestock futures in US¢/pound (rounded to two decimal places)

Live Cattle (P) Dec 2016 108.20 +2.73 +2.59%

Live Cattle (P) Feb 2017 108.50 +1.97 +1.85%

Live Cattle (P) Apr 2017 108.62 +1.67 +1.56%

Feeder Cattle (P) Nov 2016 126.98 +0.38 +0.30%

Feeder Cattle (P) Jan 2017 125.32 +2.29 +1.86%

Feeder Cattle (P) Mar 2017 121.05 +2.27 +1.91%

Lean Hogs (P) Dec 2016 48.02 +1.90 +4.12%

Lean Hogs (P) Feb 2017 54.52 +1.62 +3.06%

Lean Hogs (P) Apr 2017 61.75 +1.53 +2.54%

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