Canola futures edged a little lower Monday, weighed down by a stronger loonie and weaker soybean oil futures.
Traders were squaring positions ahead of the Statistics Canada crop production report due Tuesday morning.
Check out Producer.com for coverage of the report.
Analysts polled by Reuters, on average, expect 18.8 million tonnes of canola.
Soybeans rose more than one percent as weekly export inspections topped the trade’s expectations.
But soy oil settled slightly lower
Corn rallied more than three percent with short covering by investment funds after the price rallied above key support levels. A stronger cash market and slow farmer selling also supported corn futures.
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There is a little concern about cold weather moving into U.S. wheat areas where there is no protective snow.
But Australia’s government forecaster increased the size of its wheat estimate in its latest report and now pegs the wheat crop as record large at 32.64 million tonnes.
Light crude oil nearby futures in New York were up 11 cents to US$51.79 per barrel.
The Canadian dollar at noon was US75.35 cents, up from 75.20 cents the previous trading day. The U.S. dollar at noon was C$1.3272.
The Toronto Stock Exchange’s S&P/TSX composite index closed up 42.65 points, or 0.28 percent, at 15,095.17.
The Dow Jones industrial average rose 45.82 points, or 0.24 percent, to 19,216.24, the S&P 500 gained 12.76 points, or 0.58 percent, to 2,204.71 and the Nasdaq Composite added 53.24 points, or 1.01 percent, to 5,308.89.
Winnipeg ICE Futures Canada dollars per tonne
Canola Jan 2017 527.30 -2.00 -0.38%
Canola Mar 2017 533.20 -2.70 -0.50%
Canola May 2017 537.70 -3.20 -0.59%
Canola Jul 2017 537.80 -3.60 -0.66%
Canola Nov 2017 509.10 -3.30 -0.64%
Milling Wheat Dec 2016 234.00 -1.00 -0.43%
Milling Wheat Mar 2017 238.00 -1.00 -0.42%
Milling Wheat May 2017 242.00 +1.00 +0.41%
Durum Wheat Dec 2016 315.00 unch 0.00%
Durum Wheat Mar 2017 323.00 unch 0.00%
Durum Wheat May 2017 326.00 unch 0.00%
Barley Dec 2016 138.00 unch 0.00%
Barley Mar 2017 142.00 unch 0.00%
Barley May 2017 144.00 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 2017 1043.50 +15.00 +1.46%
Soybeans Mar 2017 1053.25 +15.25 +1.47%
Soybeans May 2017 1059.75 +15.00 +1.44%
Soybeans Jul 2017 1064.50 +14.50 +1.38%
Soybeans Aug 2017 1060.50 +15.25 +1.46%
Soybeans Sep 2017 1040.75 +11.25 +1.09%
Soybean Meal Dec 2016 317.70 +6.20 +1.99%
Soybean Meal Jan 2017 319.50 +6.60 +2.11%
Soybean Meal Mar 2017 322.50 +6.50 +2.06%
Soybean Oil Dec 2016 37.49 -0.09 -0.24%
Soybean Oil Jan 2017 37.67 -0.07 -0.19%
Corn Dec 2016 349.50 +12.00 +3.56%
Corn Mar 2017 359.25 +12.25 +3.53%
Corn May 2017 366.25 +11.75 +3.31%
Corn Jul 2017 373.50 +11.50 +3.18%
Corn Sep 2017 380.75 +11.50 +3.11%
Oats Dec 2016 199.25 -1.50 -0.75%
Oats Mar 2017 213.25 -2.25 -1.04%
Oats May 2017 217.50 -1.25 -0.57%
Oats Jul 2017 219.00 -1.00 -0.45%
Oats Sep 2017 224.25 +4.25 +1.93%
Wheat Dec 2016 389.25 +1.75 +0.45%
Wheat Mar 2017 408.25 +4.00 +0.99%
Wheat May 2017 420.25 +3.50 +0.84%
Wheat Jul 2017 433.00 +2.25 +0.52%
Wheat Sep 2017 447.75 +2.50 +0.56%
Minneapolis
Spring Wheat Dec 2016 537.50 -3.00 -0.56%
Spring Wheat Mar 2017 534.75 -4.00 -0.74%
Spring Wheat May 2017 538.25 unch 0.00%
Spring Wheat Jul 2017 541.25 unch 0.00%
Spring Wheat Sep 2017 548.25 -2.50 -0.45%
Kansas City
Hard Red Wheat Dec 2016 390.25 +2.75 +0.71%
Hard Red Wheat Mar 2017 408.50 -0.25 -0.06%
Hard Red Wheat May 2017 420.50 unch 0.00%
Hard Red Wheat Jul 2017 432.50 +0.50 +0.12%
Hard Red Wheat Sep 2017 447.50 +0.25 +0.06%
Chicago livestock futures in US¢/pound (rounded to two decimal places)
Live Cattle (P) Dec 2016 107.82 -0.38 -0.35%
Live Cattle (P) Apr 2017 108.98 +0.10 +0.09%
Feeder Cattle (P) Jan 2017 124.32 -0.38 -0.30%
Feeder Cattle (P) Mar 2017 121.38 -0.27 -0.22%
Feeder Cattle (P) Apr 2017 121.08 +0.03 +0.02%
Lean Hogs (P) Dec 2016 51.50 +0.68 +1.34%
Lean Hogs (P) Feb 2017 54.80 +0.90 +1.67%
Lean Hogs (P) Apr 2017 61.12 +1.10 +1.83%
