Canola futures fell Thursday as the Canadian loonie increased sharply.
At noon the loonie was at US77.02 cents, up more than two cents.
The U.S. Federal Reserve on Wednesday said it would likely increase interest rates only twice this year, down from the four increases projected in December.
The more dovish outlook pressured the American dollar lower, allowing the Canadian dollar to rise.
May canola closed at $465.50, down $4.70 or one percent.
The weaker American buck supported the soybean complex on American exchanges, but wheat fell as the outlook for freezing temperatures in western Kansas this weekend moderated.
Earlier forecasts had said the temperature in places such as Dodge City, Kansas, would fall to -5 to -7C on Sunday morning, but mid day forecasts today put the low at -4C, meaning less chance of crop damage.
May Kansas hard red winter wheat fell 2.7 percent. The decline was less severe in Minneapolis hard red spring wheat, which fell 1.1 percent.
Corn hardly changed.
Soy oil climbed more than two percent, supported by the weak American buck and rising crude oil prices.
Crude and other commodities on American exchanges all climbed thanks to the weaker U.S. dollar.
Strategie Grains said the European winter crop was coming out of dormancy in good shape thanks to a mild winter.
Light crude oil nearby futures in New York were up $1.74 to US$40.20 per barrel.
The Canadian dollar at noon was US77.02 cents, up from 74.846 cents the previous trading day. The U.S. dollar at noon was C$1.2989.
The Dow Jones Index has now recovered from the losses earlier this year and is in positive territory for the first time in 2016.
The TSX composite closed at 13,621.30, up 143.17 points.
The Dow Jones industrial average rose 155.73 points, or 0.9 percent, to 17,481.49, the S&P 500 gained 13.37 points, or 0.66 percent, to 2,040.59 and the Nasdaq Composite added 11.02 points, or 0.23 percent, to 4,774.99.
Winnipeg ICE Futures Canada dollars per tonne
Canola May 2016 465.50 -4.70 -1.00%
Canola Jul 2016 470.40 -3.30 -0.70%
Canola Nov 2016 476.70 +0.90 +0.19%
Canola Jan 2017 479.90 +1.10 +0.23%
Canola Mar 2017 482.50 +1.20 +0.25%
Milling Wheat May 2016 235.00 -3.00 -1.26%
Milling Wheat Jul 2016 235.00 -3.00 -1.26%
Milling Wheat Oct 2016 230.00 -2.00 -0.86%
Durum Wheat May 2016 290.00 unch 0.00%
Durum Wheat Jul 2016 278.00 unch 0.00%
Durum Wheat Oct 2016 266.00 unch 0.00%
Barley May 2016 176.00 unch 0.00%
Barley Jul 2016 180.00 unch 0.00%
Barley Oct 2016 180.00 unch 0.00%
American crop prices in cents US/bushel, soybean meal in $US/short ton, soy oil in cents US/pound
Chicago
Soybeans May 2016 897.75 +3.25 +0.36%
Soybeans Jul 2016 904 +3.75 +0.42%
Soybeans Aug 2016 906.25 +4 +0.44%
Soybeans Sep 2016 906.25 +4 +0.44%
Soybeans Nov 2016 909.25 +4.25 +0.47%
Soybeans Jan 2017 913.5 +4.25 +0.47%
Soybean Meal May 2016 267 -0.7 -0.26%
Soybean Meal Jul 2016 269.7 -0.7 -0.26%
Soybean Meal Aug 2016 271 -0.5 -0.18%
Soybean Oil May 2016 33.41 +0.72 +2.20%
Soybean Oil Jul 2016 33.64 +0.72 +2.19%
Soybean Oil Aug 2016 33.72 +0.72 +2.18%
Corn May 2016 368.5 +0.25 +0.07%
Corn Jul 2016 373 -0.25 -0.07%
Corn Sep 2016 378.25 -0.25 -0.07%
Corn Dec 2016 387.25 +0.75 +0.19%
Corn Mar 2017 396 +0.5 +0.13%
Oats May 2016 191.25 -4.25 -2.17%
Oats Jul 2016 201.25 -4 -1.95%
Oats Sep 2016 209 -3.25 -1.53%
Oats Dec 2016 218.5 -2 -0.91%
Oats Mar 2017 223.25 -2 -0.89%
Wheat May 2016 462.5 -8.25 -1.75%
Wheat Jul 2016 470 -8.25 -1.73%
Wheat Sep 2016 479.75 -8.25 -1.69%
Wheat Dec 2016 493.5 -9 -1.79%
Wheat Mar 2017 506.75 -9.25 -1.79%
Minneapolis
Spring Wheat May 2016 509.75 -5.75 -1.12%
Spring Wheat Jul 2016 519.25 -5.5 -1.05%
Spring Wheat Sep 2016 529.25 -5.25 -0.98%
Spring Wheat Dec 2016 543 -4.5 -0.82%
Spring Wheat Mar 2017 557.25 -2.75 -0.49%
Kansas
Hard Red Wheat May 2016 470.75 -13 -2.69%
Hard Red Wheat Jul 2016 481.25 -12.25 -2.48%
Hard Red Wheat Sep 2016 495 -12 -2.37%
Hard Red Wheat Dec 2016 514.75 -11.25 -2.14%
Hard Red Wheat Mar 2017 526.75 -11 -2.05%
