Spring wheat futures rose again Friday but canola, oats, corn and soy oil all fell.
After a strong week of gains, traders took profits going into the weekend and that provided some of the downward pressure.
That profit taking and increased farmer selling weighed on canola but the May contract posted a 4.7 percent gain on the week.
Wheat remained supported by the tensions in Ukraine and concerns about dry soils in the U.S. hard red winter wheat region. The spring wheat contract was supported by strong commercial demand for deliverable supplies.
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The Canadian government announced today it will force railways to up their game in delivering grain to export position.
If the railways actually improve service it should start to the narrow the canola basis.
Minneapolis wheat didn’t react much to the news from Canada.
However that was seen to be a factor in the limit down move in Chicago oats.
Chicago soybeans closed higher on expectation that the USDA on Monday will increase its forecast of U.S. soybean sales and trim its outlook for year end stocks.
The weather problems in South America that have trimmed production and slowed transportation to port also supported soybeans.
On the week, May soybeans rose 3.1 percent.
Palm oil rose again today on concerns about dry weather in Malaysia and Indonesia. Palm traders will closely watch export numbers released next week.
Corn closed lower as investors took profits and farmers sold grain after the benchmark May contract rose above $5 a bushel for the first time since September. The volume of deliveries was among the most since the post harvest rush.
On the week, May corn rose 5.5 percent.
The Canadian Oilseed Processors Association said members crushed 140,792 tonnes of canola in the week ending March 5, an increase of 6.3 percent.
That represented a capacity use of just over 80 percent.
Winnipeg ICE Futures Canada dollars per tonne
Canola Mar 2014Â Â Â Â Â Â 439.30Â Â Â Â Â Â -7.00Â Â Â Â Â Â -1.57%
Canola May 2014Â Â Â Â Â Â 450.20Â Â Â Â Â Â -7.00Â Â Â Â Â Â -1.53%
Canola Jul 2014Â Â Â Â Â Â 459.60Â Â Â Â Â Â -7.20Â Â Â Â Â Â -1.54%
Canola Nov 2014Â Â Â Â Â Â 476.40Â Â Â Â Â Â -7.20Â Â Â Â Â Â -1.49%
Canola Jan 2015Â Â Â Â Â Â 483.10Â Â Â Â Â Â -7.80Â Â Â Â Â Â -1.59%
Milling Wheat Mar 2014Â Â Â Â Â Â 205.00Â Â Â Â Â Â +3.00Â Â Â Â Â Â +1.49%
Milling Wheat May 2014Â Â Â Â Â Â 211.00Â Â Â Â Â Â +4.00Â Â Â Â Â Â +1.93%
Milling Wheat Jul 2014Â Â Â Â Â Â 210.00Â Â Â Â Â Â +4.00Â Â Â Â Â Â +1.94%
Durum Wheat Mar 2014      245.00      unch      0.00%
Durum Wheat May 2014      249.00      unch      0.00%
Durum Wheat Jul 2014      250.00      unch      0.00%
Barley Mar 2014      126.50      unch      0.00%
Barley May 2014      128.50      unch      0.00%
Barley Jul 2014      128.50      unch      0.00%
American crop prices in cents US/bushel, soybean meal in $US/short ton, soy oil in cents US/pound
Chicago
Soybeans Mar 2014Â Â Â Â Â Â 1457.5Â Â Â Â Â Â +20Â Â Â Â Â Â +1.39%
Soybeans May 2014Â Â Â Â Â Â 1457.75Â Â Â Â Â Â +19.75Â Â Â Â Â Â +1.37%
Soybeans Jul 2014Â Â Â Â Â Â 1424.75Â Â Â Â Â Â +15.25Â Â Â Â Â Â +1.08%
Soybeans Aug 2014Â Â Â Â Â Â 1373Â Â Â Â Â Â +14.75Â Â Â Â Â Â +1.09%
Soybeans Sep 2014Â Â Â Â Â Â 1255.5Â Â Â Â Â Â +4.25Â Â Â Â Â Â +0.34%
Soybeans Nov 2014Â Â Â Â Â Â 1187.25Â Â Â Â Â Â +1.25Â Â Â Â Â Â +0.11%
Soybean Meal Mar 2014Â Â Â Â Â Â 465Â Â Â Â Â Â +6.6Â Â Â Â Â Â +1.44%
Soybean Meal May 2014Â Â Â Â Â Â 457.8Â Â Â Â Â Â +6.9Â Â Â Â Â Â +1.53%
Soybean Meal Jul 2014Â Â Â Â Â Â 445Â Â Â Â Â Â +5.4Â Â Â Â Â Â +1.23%
Soybean Oil Mar 2014Â Â Â Â Â Â 44.09Â Â Â Â Â Â -0.18Â Â Â Â Â Â -0.41%
Soybean Oil May 2014Â Â Â Â Â Â 44.32Â Â Â Â Â Â -0.17Â Â Â Â Â Â -0.38%
Soybean Oil Jul 2014Â Â Â Â Â Â 44.44Â Â Â Â Â Â -0.12Â Â Â Â Â Â -0.27%
Corn Mar 2014Â Â Â Â Â Â 481Â Â Â Â Â Â -4.75Â Â Â Â Â Â -0.98%
Corn May 2014Â Â Â Â Â Â 489Â Â Â Â Â Â -2Â Â Â Â Â Â -0.41%
Corn Jul 2014Â Â Â Â Â Â 493Â Â Â Â Â Â -2.25Â Â Â Â Â Â -0.45%
Corn Sep 2014Â Â Â Â Â Â 487.5Â Â Â Â Â Â -3Â Â Â Â Â Â -0.61%
Corn Dec 2014Â Â Â Â Â Â 484.75Â Â Â Â Â Â -4.5Â Â Â Â Â Â -0.92%
Oats Mar 2014Â Â Â Â Â Â 490Â Â Â Â Â Â -25Â Â Â Â Â Â -4.85%
Oats May 2014Â Â Â Â Â Â 446.25Â Â Â Â Â Â -20Â Â Â Â Â Â -4.29%
Oats Jul 2014Â Â Â Â Â Â 376Â Â Â Â Â Â -20Â Â Â Â Â Â -5.05%
Oats Sep 2014Â Â Â Â Â Â 331Â Â Â Â Â Â -19.75Â Â Â Â Â Â -5.63%
Oats Dec 2014Â Â Â Â Â Â 322.75Â Â Â Â Â Â -20Â Â Â Â Â Â -5.84%
Wheat Mar 2014Â Â Â Â Â Â 646.25Â Â Â Â Â Â +4.75Â Â Â Â Â Â +0.74%
Wheat May 2014Â Â Â Â Â Â 654Â Â Â Â Â Â +8Â Â Â Â Â Â +1.24%
Wheat Jul 2014Â Â Â Â Â Â 659Â Â Â Â Â Â +9.5Â Â Â Â Â Â +1.46%
Wheat Sep 2014Â Â Â Â Â Â 666.25Â Â Â Â Â Â +9.25Â Â Â Â Â Â +1.41%
Wheat Dec 2014Â Â Â Â Â Â 678Â Â Â Â Â Â +9.25Â Â Â Â Â Â +1.38%
Minneapolis
Spring Wheat Mar 2014Â Â Â Â Â Â 752Â Â Â Â Â Â +10.75Â Â Â Â Â Â +1.45%
Spring Wheat May 2014Â Â Â Â Â Â 705Â Â Â Â Â Â +9.75Â Â Â Â Â Â +1.40%
Spring Wheat Jul 2014Â Â Â Â Â Â 701Â Â Â Â Â Â +11.5Â Â Â Â Â Â +1.67%
Spring Wheat Sep 2014Â Â Â Â Â Â 705Â Â Â Â Â Â +11.75Â Â Â Â Â Â +1.69%
Spring Wheat Dec 2014Â Â Â Â Â Â 714.25Â Â Â Â Â Â +12.5Â Â Â Â Â Â +1.78%
Kansas City
KCBT Red Wheat Mar 2014Â Â Â Â Â Â 715.25Â Â Â Â Â Â +9Â Â Â Â Â Â +1.27%
KCBT Red Wheat May 2014Â Â Â Â Â Â 721.25Â Â Â Â Â Â +8Â Â Â Â Â Â +1.12%
KCBT Red Wheat Jul 2014Â Â Â Â Â Â 715Â Â Â Â Â Â +9.25Â Â Â Â Â Â +1.31%
KCBT Red Wheat Sep 2014Â Â Â Â Â Â 720.75Â Â Â Â Â Â +9.5Â Â Â Â Â Â +1.34%
KCBT Red Wheat Dec 2014Â Â Â Â Â Â 731.5Â Â Â Â Â Â +9.5Â Â Â Â Â Â +1.32%
Light crude oil nearby futures in New York rose $1.02 at $102.58 US per barrel.
The Canadian dollar at noon was 90.18 cents US, almost steady from 91.19 cents the previous trading day. The U.S. dollar at noon was $1.1089 Cdn.
The employment picture in the U.S. improved, supporting markets but the Canadian jobs report was a disappointment.
U.S. jobs growth picked up sharply in February despite an unusually cold winter, with 175,000 new jobs created, topping expectations. However, the unemployment rate rose to 6.7 percent, up 0.1 percent, as more Americans re-entered the market searching for employment.
Canada lost 7,000 jobs in February. It was a mixed showing, with a sizeable increase in full-time jobs, offset by the disappearance of even more part-time positions.
The unemployment rate held steady at 7.0 percent.
The Toronto Stock Exchange’s S&P/TSX composite index closed 27.16 points, or 0.2 percent higher, to end the session at 14,299.08.
The Dow Jones industrial average rose 30.83 points or 0.19 percent, to end at 16,452.72.
The S&P 500 gained 1.01 points or 0.05 percent, to finish at 1,878.04.
The Nasdaq Composite dropped 15.903 points or 0.37 percent, to close at 4,336.223.
On the week, the TSX rose 0.7 percent, the Dow was up 0.8 percent, the S&P 500 Â climbed one percent and the Nasdaq recorded its fifth straight weekly advance, up 0.7 percent.
