Canola fell on Monday on profit taking, improved moisture in the Prairies and the U.S. and falling U.S. crop prices.
The expectation of record canola seeding also weighed on new crop while losses were limited by strong demand for old crop.
Improving moisture in U.S. corn and wheat areas pressured those crops lower and spilled over into soybeans.
Funds sold long positions. There was some hedging pressure as farmers locked in prices from some of their 2012 crop.
May canola closed at $62.20 per tonne, down $5.70.
Read Also
U.S. livestock: Cattle futures rise as Cattle on Feed report shows lower inventory
Cattle futures climbed again on Friday as USDA data showed a continued decline in cattle on feed. Hogs also rose.
November closed at $574.00, down $5.80.
ICE Futures raised its milling wheat contract by $3 per tonne.
Winnipeg (per tonne)
Canola May 12 $620.20, down $5.70, -0.91%
Canola Jul 12 $615.20, down $5.30, -0.85%
Canola Nov 12 $574.00, down $5.80, -1.00%
Canola Jan 13 $578.20, down $5.70, -0.98%
The best basis for the previous day in the par region was +$2.40 over the May contract said Ice Futures Canada.
Western Barley May 12 $235.00, unchanged
Western Barley Jul 12 $235.00, unchanged
Milling Wht Oct 12 $269.00, up $3.00 +1.13%
Milling Wht Dec 12 $274.00, up $3.00 +1.11%
Milling Wht Mar 13 $279.00, up $3.00 +1.09%
Durum Wht Oct 12 $277.50, unchanged
Durum Wht Dec 12 $282.00, unchanged
Durum Wht Mar 13 $288.60, unchanged
Barley Oct 12 $186.50, unchanged
Barley Dec 12 $190.00, unchanged
Barley Mar 13 $191.50, unchanged
Chicago (per bushel)
Soybeans May 12 $14.20, down 16.75, -1.17%
Soybeans Jul 12 $14.2425, down 16.5, -1.15%
Soybeans Nov 12 $13.50, down 11.75, -0.86%
Corn May 12 $6.2325, down 6.0, -0.95%
Corn Jul 12 $6.135, down 7.25, -1.17%
Corn Dec 12 $5.265, down 10.5, -1.96%
Oats May 12 $3.2275, -5.0, -1.53%
Oats Jul 12 $3.27, -4.0, -1.21%
Oats Dec 12 $3.34, -2.0, -0.60%
Minneapolis (per bushel)
Spring Wht May 12 $8.1375, down 10.5 cents -1.27%
Spring Wht Jul 12 $8.1225, down 8.25, -1.01%
Spring Wht Sep 12 $8.07, down 0.75, -0.09%
Spring Wht Dec 12 $8.0375, unchanged
The nearby New York light sweet crude contract rose 10 cents to $102.93.
The Canadian dollar at noon fell below part to 99.76 US, down from $1.0021 the previous trading day. The U.S. dollar at noon was $1.0024 Cdn.
There was mixed economic news. U.S. retail sales for March rose 0.8 percent, sharply higher than the forecast, but a New York state manufacturing report was weaker than expected.
Spain’s rising borrowing costs and worries about China’s slower growth also were on traders’ minds.
The Toronto Stock Exchange’s S&P/TSX composite index closed down 2.80 points, or 0.02 percent, at 12,037.59
The Dow Jones industrial average rose 71.82 points, or 0.56 percent, to 12,921.41 at the close. But the Standard & Poor’s 500 Index inched down 0.69 of a point, or 0.05 percent, to 1,369.57. The Nasdaq Composite Index dropped 22.93 points, or 0.76 percent, to close at 2,988.40.
ndex dropped 22.93 points, or 0.76 percent, to close at 2,988.40.
