Canola fell for the third day even though a heavy frost is expected overnight in large parts of Western Canada and the U.S. soybean market edged higher on bargain buying.
Snow has been falling in western and southern Alberta for the past couple of days flattening crops and creating headaches for farmers when harvest resumes in several days.
Temperatures are expected to fall to -6 to -7 C in many parts of Alberta’s central grain belt overnight. The frost will likely be less severe in central Alberta and Saskatchewan
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But ideas that global oilseed supplies will be ample this year kept canola futures on the defensive. Falling palm oil futures, pressured by a rise in monthly Malaysian stocks, contributed to the downward pressure on canola, as did falling crude oil prices.
Soybeans and oil edged higher, mostly simply bouncing off of long term lows reached on Tuesday.
Soybeans got a bit of support from forecast for frost in the far northwestern Midwest on Friday and Saturday.
Soy meal prices fell to a five-year low.
Trade on U.S. markets was light ahead of the USDA supply and demand monthly report due Thursday. The report is expected to increase its forecasts of U.S. corn and soybean production.
Corn edged higher on bargain buying.
Wheat edged lower, partly on easing of tensions between Ukraine and Russia.
Ukrainian farms have started seeding for the 2015 grain harvest, the agriculture ministry said. Winter wheat area was likely to total 15.3 million acres, up from 15.07 million a year ago.
European forecasters pushed their crop estimates higher this week.
Winnipeg ICE Futures Canada dollars per tonne
Canola Nov 2014Â Â Â Â Â Â 414.70Â Â Â Â Â Â -1.80Â Â Â Â Â Â -0.43%
Canola Jan 2015Â Â Â Â Â Â 419.20Â Â Â Â Â Â -2.10Â Â Â Â Â Â -0.50%
Canola Mar 2015Â Â Â Â Â Â 424.20Â Â Â Â Â Â -2.50Â Â Â Â Â Â -0.59%
Canola May 2015Â Â Â Â Â Â 427.80Â Â Â Â Â Â -3.00Â Â Â Â Â Â -0.70%
Canola Jul 2015Â Â Â Â Â Â 431.10Â Â Â Â Â Â -3.40Â Â Â Â Â Â -0.78%
Milling Wheat Oct 2014Â Â Â Â Â Â 197.00Â Â Â Â Â Â +1.00Â Â Â Â Â Â +0.51%
Milling Wheat Dec 2014Â Â Â Â Â Â 203.00Â Â Â Â Â Â +1.00Â Â Â Â Â Â +0.50%
Milling Wheat Mar 2015Â Â Â Â Â Â 212.00Â Â Â Â Â Â +2.00Â Â Â Â Â Â +0.95%
Durum Wheat Oct 2014Â Â Â Â Â Â 288.80Â Â Â Â Â Â +4.00Â Â Â Â Â Â +1.40%
Durum Wheat Dec 2014Â Â Â Â Â Â 294.80Â Â Â Â Â Â +4.00Â Â Â Â Â Â +1.38%
Durum Wheat Mar 2015Â Â Â Â Â Â 295.80Â Â Â Â Â Â +4.00Â Â Â Â Â Â +1.37%
Barley Oct 2014      124.00      unch      0.00%
Barley Dec 2014      126.00      unch      0.00%
Barley Mar 2015      127.00      unch      0.00%
American crop prices in cents US/bushel, soybean meal in $US/short ton, soy oil in cents US/pound
Chicago
Soybeans Sep 2014Â Â Â Â Â Â 1071Â Â Â Â Â Â -5.5Â Â Â Â Â Â -0.51%
Soybeans Nov 2014Â Â Â Â Â Â 993.75Â Â Â Â Â Â +1Â Â Â Â Â Â +0.10%
Soybeans Jan 2015Â Â Â Â Â Â 1000.25Â Â Â Â Â Â +1Â Â Â Â Â Â +0.10%
Soybeans Mar 2015Â Â Â Â Â Â 1005.75Â Â Â Â Â Â +0.75Â Â Â Â Â Â +0.07%
Soybeans May 2015Â Â Â Â Â Â 1012.5Â Â Â Â Â Â +1.25Â Â Â Â Â Â +0.12%
Soybeans Jul 2015Â Â Â Â Â Â 1018.5Â Â Â Â Â Â +1Â Â Â Â Â Â +0.10%
Soybean Meal Sep 2014Â Â Â Â Â Â 442.8Â Â Â Â Â Â -10.9Â Â Â Â Â Â -2.40%
Soybean Meal Oct 2014Â Â Â Â Â Â 349Â Â Â Â Â Â -3.4Â Â Â Â Â Â -0.96%
Soybean Meal Dec 2014Â Â Â Â Â Â 337.2Â Â Â Â Â Â -1.5Â Â Â Â Â Â -0.44%
Soybean Oil Sep 2014Â Â Â Â Â Â 31.58Â Â Â Â Â Â -0.01Â Â Â Â Â Â -0.03%
Soybean Oil Oct 2014Â Â Â Â Â Â 31.63Â Â Â Â Â Â +0.07Â Â Â Â Â Â +0.22%
Soybean Oil Dec 2014Â Â Â Â Â Â 31.83Â Â Â Â Â Â +0.11Â Â Â Â Â Â +0.35%
Corn Sep 2014Â Â Â Â Â Â 338.75Â Â Â Â Â Â +2.5Â Â Â Â Â Â +0.74%
Corn Dec 2014Â Â Â Â Â Â 345.75Â Â Â Â Â Â +1.5Â Â Â Â Â Â +0.44%
Corn Mar 2015Â Â Â Â Â Â 358.5Â Â Â Â Â Â +1.25Â Â Â Â Â Â +0.35%
Corn May 2015Â Â Â Â Â Â 366.75Â Â Â Â Â Â +1.25Â Â Â Â Â Â +0.34%
Corn Jul 2015Â Â Â Â Â Â 374Â Â Â Â Â Â +1.25Â Â Â Â Â Â +0.34%
Oats Sep 2014Â Â Â Â Â Â 386.75Â Â Â Â Â Â +7.75Â Â Â Â Â Â +2.04%
Oats Dec 2014Â Â Â Â Â Â 356.75Â Â Â Â Â Â +7.75Â Â Â Â Â Â +2.22%
Oats Mar 2015Â Â Â Â Â Â 336.5Â Â Â Â Â Â +5Â Â Â Â Â Â +1.51%
Oats May 2015Â Â Â Â Â Â 327.5Â Â Â Â Â Â +4.75Â Â Â Â Â Â +1.47%
Oats Jul 2015Â Â Â Â Â Â 321.25Â Â Â Â Â Â +0.25Â Â Â Â Â Â +0.08%
Wheat Sep 2014Â Â Â Â Â Â 518.75Â Â Â Â Â Â -8.75Â Â Â Â Â Â -1.66%
Wheat Dec 2014Â Â Â Â Â Â 519.75Â Â Â Â Â Â -7.75Â Â Â Â Â Â -1.47%
Wheat Mar 2015Â Â Â Â Â Â 536Â Â Â Â Â Â -8Â Â Â Â Â Â -1.47%
Wheat May 2015Â Â Â Â Â Â 547.5Â Â Â Â Â Â -7.5Â Â Â Â Â Â -1.35%
Wheat Jul 2015Â Â Â Â Â Â 557.75Â Â Â Â Â Â -6.75Â Â Â Â Â Â -1.20%
Minneapolis
Spring Wheat Sep 2014Â Â Â Â Â Â 614Â Â Â Â Â Â -10.25Â Â Â Â Â Â -1.64%
Spring Wheat Dec 2014Â Â Â Â Â Â 598.75Â Â Â Â Â Â -6.5Â Â Â Â Â Â -1.07%
Spring Wheat Mar 2015Â Â Â Â Â Â 613.5Â Â Â Â Â Â -6.25Â Â Â Â Â Â -1.01%
Spring Wheat May 2015Â Â Â Â Â Â 623.75Â Â Â Â Â Â -5.75Â Â Â Â Â Â -0.91%
Spring Wheat Jul 2015Â Â Â Â Â Â 632Â Â Â Â Â Â -5Â Â Â Â Â Â -0.78%
Kansas City
Hard Red Wheat Sep 2014Â Â Â Â Â Â 605.25Â Â Â Â Â Â -7.75Â Â Â Â Â Â -1.26%
Hard Red Wheat Dec 2014Â Â Â Â Â Â 615.5Â Â Â Â Â Â -7.5Â Â Â Â Â Â -1.20%
Hard Red Wheat Mar 2015Â Â Â Â Â Â 621.75Â Â Â Â Â Â -7.5Â Â Â Â Â Â -1.19%
Hard Red Wheat May 2015Â Â Â Â Â Â 625Â Â Â Â Â Â -6.75Â Â Â Â Â Â -1.07%
Hard Red Wheat Jul 2015Â Â Â Â Â Â 614.5Â Â Â Â Â Â -5.75Â Â Â Â Â Â -0.93%
Light crude oil nearby futures in New York dropped $1.08 at $91.67 US per barrel.
The Canadian dollar at noon was 91.28 cents US, up from 90.81 cents the previous trading day. The U.S. dollar at noon was $1.0955 Cdn.
The Toronto Stock Exchange composite fell 64.92 points or 0.42 percent to 15,471.89
The Dow Jones industrial average rose 54.42 points, or 0.32 percent, to 17,068.29.
The S&P 500 gained 7.31 points, or 0.37 percent, to 1,995.75.
The Nasdaq Composite added 34.24 points, or 0.75 percent, to 4,586.52.
