Crop futures dipped a little on Wednesday as traders took profits after the recent run up and as weather across North American grain regions is generally good for developing crops.
July canola closed at $525.80, down $4.70 and November canola closed at $528.20, down $4.70.
Weaker palm oil also weighed on oilseeds like canola.
Thunderstorms provided moisture to western Saskatchewan and the Peace River region yesterday.
Rain is expected in south central Saskatchewan tonight.
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Canadian Canola Growers await info on Advance Payments Program changes
The Canadian Canola Growers Association says it’s waiting on more information from the federal government before it can double farmers’ access to interest-free canola advance payments.
Rain coverage in recent days in the U.S. Midwest was better than expected.
Wheat is under pressure from the advancing U.S. winter wheat harvest.
The U.S. Federal Reserve closed its monthly meeting without an interest rate increase. It restated its expectation for two increases this year so long as job growth continues.
The Fed lowered its economic growth forecast for this year and next and signaled less aggressive rate increases after the end of this year.
Light crude oil nearby futures in New York were down 48 cents to US$48.01 per barrel.
The Canadian dollar at noon was US77.44 cents, down from 77.91 cents the previous trading day. The U.S. dollar at noon was C$1.2914.
Uncertainty as the EU vote in Britain looms weighed down American stock markets. Britons will vote June 23 on whether to leave the European Union.
The Dow Jones industrial average lost 0.2 percent to end at 17,640.17 and the S&P 500 fell 0.18 percent to 2,071.50.
The Nasdaq Composite dropped 0.18 percent to 4,834.93.
However, the uncertainty helped gold mining companies and they helped lift the Toronto market.
The Toronto Stock Exchange’s S&P/TSX composite index closed up 39.22 points, or 0.28 percent, at 13,923.45.
Winnipeg ICE Futures Canada dollars per tonne
Canola Jul 2016 521.60 -4.70 -0.89%
Canola Nov 2016 525.30 -4.70 -0.89%
Canola Jan 2017 528.80 -5.60 -1.05%
Canola Mar 2017 530.10 -5.70 -1.06%
Canola May 2017 531.20 -5.80 -1.08%
Milling Wheat Jul 2016 233.00 unch 0.00%
Milling Wheat Oct 2016 232.00 unch 0.00%
Durum Wheat Jul 2016 299.00 unch 0.00%
Durum Wheat Oct 2016 295.00 unch 0.00%
Barley Jul 2016 171.50 unch 0.00%
Barley Oct 2016 171.50 unch 0.00%
American crop prices in cents US/bushel, soybean meal in $US/short ton, soy oil in cents US/pound
Chicago
Soybeans Jul 2016 1156.00 -13.50 -1.15%
Soybeans Aug 2016 1155.00 -11.00 -0.94%
Soybeans Sep 2016 1145.00 -10.75 -0.93%
Soybeans Nov 2016 1138.50 -10.75 -0.94%
Soybeans Jan 2017 1135.75 -10.25 -0.89%
Soybeans Mar 2017 1097.50 -7.50 -0.68%
Soybean Meal Jul 2016 407.20 -1.40 -0.34%
Soybean Meal Aug 2016 404.80 -0.60 -0.15%
Soybean Meal Sep 2016 403.10 -1.10 -0.27%
Soybean Oil Jul 2016 31.96 -0.56 -1.72%
Soybean Oil Aug 2016 32.10 -0.57 -1.74%
Soybean Oil Sep 2016 32.24 -0.57 -1.74%
Corn Jul 2016 429.00 -7.50 -1.72%
Corn Sep 2016 434.00 -7.75 -1.75%
Corn Dec 2016 439.50 -7.00 -1.57%
Corn Mar 2017 444.50 -6.50 -1.44%
Corn May 2017 447.00 -6.50 -1.43%
Oats Jul 2016 204.50 -2.00 -0.97%
Oats Sep 2016 215.50 -1.50 -0.69%
Oats Dec 2016 223.00 -1.75 -0.78%
Oats Mar 2017 235.00 -2.50 -1.05%
Oats May 2017 235.00 -2.50 -1.05%
Wheat Jul 2016 477.50 -7.50 -1.55%
Wheat Sep 2016 489.50 -8.25 -1.66%
Wheat Dec 2016 510.25 -8.00 -1.54%
Wheat Mar 2017 530.25 -7.75 -1.44%
Wheat May 2017 542.50 -7.25 -1.32%
Minneapolis
Spring Wheat Jul 2016 530.50 -2.25 -0.42%
Spring Wheat Sep 2016 540.50 -2.75 -0.51%
Spring Wheat Dec 2016 554.75 -3.75 -0.67%
Spring Wheat Mar 2017 568.25 -4.25 -0.74%
Spring Wheat May 2017 576.25 -3.75 -0.65%
Kansas City
Hard Red Wheat Jul 2016 456.75 -1.75 -0.38%
Hard Red Wheat Sep 2016 474.50 -2.00 -0.42%
Hard Red Wheat Dec 2016 499.50 -1.75 -0.35%
Hard Red Wheat Mar 2017 515.50 -1.75 -0.34%
Hard Red Wheat May 2017 525.75 -2.00 -0.38%
Live Cattle (P) Jun 2016 117.28 -1.77 -1.49%
Live Cattle (P) Aug 2016 113.58 -1.42 -1.23%
Live Cattle (P) Oct 2016 113.53 -1.32 -1.15%
Feeder Cattle (P) Aug 2016 140.25 -1.90 -1.34%
Feeder Cattle (P) Sep 2016 139.42 -1.51 -1.07%
Feeder Cattle (P) Oct 2016 138.12 -1.33 -0.95%
Lean Hogs (P) Jul 2016 86.82 -1.26 -1.43%
Lean Hogs (P) Aug 2016 88.80 -0.53 -0.59%
Lean Hogs (P) Oct 2016 74.15 +0.35 +0.47%
