Canola futures declined today on light trade prior to the Christmas holidays. The March canola contract on ICE Futures Canada dropped $3.10 per tonne to close at $436.40 per tonne. Canola traded higher early in the day but finished lower on profit taking.
Soybeans were flat on the day. The March contract on the Chicago Board of trade didn’t change, finishing at $10.4575 per bushel. Soy futures traded higher most of the day but couldn’t maintain the momentum.
Further out contracts declined slightly with July beans dropping one cent per bu.
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Forecasts of rain for Argentina’s soybean crop likely weighed on the oilseed market.
Corn bucked the declines. March corn gained 2.25 cents Tuesday to settle at $4.14 per bu., its highest price since early in the summer.
Corn futures have gained more than 80 cents per bu. since early October. Traders attributed today’s gains to increasing global demand for corn.
Wheat was also a winner, with the nearby contract gaining 9.75 cents to finish at $6.355 per bu. on the CBOT.
Traders said uncertainty over Russian export restrictions pushed wheat higher. Russian prime minister Dmitry Medvedev announced yesterday that the Kremlin would introduce export duties on grains to ensure domestic supplies.
Bread prices have increased in Russia over the last month as the value of the ruble has tanked on global markets.
Market watchers expected the Russians to release terms of the export duties Tuesday, but Moscow officials didn’t make an announcement.
Oil futures bounced back today, gaining $1.86 to close at $57.12 in New York.
Markets will close earlier tomorrow for Christmas Eve. ICE Futures Canada and the CBOT will stop trading at noon central time.
Light crude oil nearby futures in New York up $1.86 to US$57.12 per barrel.
The Canadian dollar at noon was US86.01 cents, up from 85.89 cents the previous trading day. The U.S. dollar at noon was C$1.1627.
Winnipeg ICE Futures Canada dollars per tonne
Canola Jan 2015 445.30 -0.20 -0.04%
Canola Mar 2015 436.40 -3.10 -0.71%
Canola May 2015 434.70 -3.70 -0.84%
Canola Jul 2015 434.20 -4.10 -0.94%
Canola Nov 2015 425.20 -6.50 -1.51%
Milling Wheat Mar 2015 237.00 +3.00 +1.28%
Milling Wheat May 2015 240.00 +3.00 +1.27%
Milling Wheat Jul 2015 242.00 +3.00 +1.26%
Durum Wheat Mar 2015 380.00 +10.00 +2.70%
Durum Wheat May 2015 370.00 +10.00 +2.78%
Durum Wheat Jul 2015 360.00 +10.00 +2.86%
Barley Mar 2015 177.00 unch 0.00%
Barley Jul 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 Jan 2015 1038.5 +0.25 +0.02%
Soybeans Mar 2015 1045.75 unch 0.00%
Soybeans May 2015 1053.25 -0.25 -0.02%
Soybeans Jul 2015 1058.75 -1 -0.09%
Soybeans Aug 2015 1057.75 -1 -0.09%
Soybeans Sep 2015 1038.25 -1.25 -0.12%
Soybean Meal Jan 2015 371.3 +2.9 +0.79%
Soybean Meal Mar 2015 358.3 +1.1 +0.31%
Soybean Meal May 2015 350.9 -0.2 -0.06%
Soybean Oil Jan 2015 32.22 +0.18 +0.56%
Soybean Oil Mar 2015 32.36 +0.19 +0.59%
Soybean Oil May 2015 32.58 +0.19 +0.59%
Corn Mar 2015 414 +2.25 +0.55%
Corn May 2015 422.5 +2.25 +0.54%
Corn Jul 2015 428.5 +1.75 +0.41%
Corn Sep 2015 431.25 +2 +0.47%
Corn Dec 2015 437 +2.25 +0.52%
Oats Mar 2015 309 -0.75 -0.24%
Oats May 2015 311.5 -1.5 -0.48%
Oats Jul 2015 314.5 -1 -0.32%
Oats Sep 2015 312.5 +0.5 +0.16%
Oats Dec 2015 307.5 -1 -0.32%
Wheat Mar 2015 635.5 +9.75 +1.56%
Wheat May 2015 638.5 +9.25 +1.47%
Wheat Jul 2015 639 +8.25 +1.31%
Wheat Sep 2015 645.75 +8.25 +1.29%
Wheat Dec 2015 653.75 +7.5 +1.16%
Minneapolis
Spring Wheat Mar 2015 651.5 +6.5 +1.01%
Spring Wheat May 2015 658.75 +7.75 +1.19%
Spring Wheat Jul 2015 666.75 +8.25 +1.25%
Spring Wheat Sep 2015 672.5 +9 +1.36%
Kansas City
Hard Red Wheat Mar 2015 664.75 +7 +1.06%
Hard Red Wheat May 2015 669.75 +7 +1.06%
Hard Red Wheat Jul 2015 674.25 +7.25 +1.09%
Hard Red Wheat Sep 2015 683.5 +8.25 +1.22%
Hard Red Wheat Dec 2015 694.75 +9.25 +1.35%
