Canola futures again barely changed on Friday but the January contract eked out a 0.6 percent gain over the week, the second weekly gain in a row.
Wheat dropped sharply today on profit taking.
Oilseeds were under pressure from forecasts for rain in South America that would improve prospects for soybean growth.
January canola rose 30 cents to $442.40 per tonne. March fell 50 cents to $437.10 per tonne.
ICE Futures Canada will trade usual hours on Monday and Tuesday. On Wednesday it will close early at noon CST. It will be closed Christmas and Boxing Day.
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The Canadian Oilseed Processors Association said members crushed 136,336 tonnes of canola in the week ending Dec. 17, down six percent from the week before.
That represented a capacity use of about 75 percent, down from 81 percent in the year so far.
The Louis Dreyfus plant at Yorkton, Sask., is operating but not at full capacity. It was closed for several weeks following an accident Oct. 24.
The improved rain prospects in South American weighed on soybeans, with January dropping about a half percent.
For the week, January soybeans fell 1.6 percent. Soy meal dropped 4.1 percent and soy oil was flat.
U.S. wheat futures were hammered down 3.5 percent on Friday, as traders decided the rally, with prices driven to a six month high over concerns about a slowdown in Russian exports, was overdone. Traders took profits ahead of the holiday-shortened week.
Over the week Chicago wheat rose 25 ¾ cents or 4.2 percent. Minneapolis spring wheat rose 27 ½ cents or 4.4 percent.
Wheat’s decline today weighed on corn, but signs of strong export demand limited selling.
For the week, March corn gained 0.8 percent, the smallest weekly gain during the four-week rally.
Informa Economics on Friday projected 2015 U.S. soybean plantings at 88.78 million acres, up from its previous outlook of 88.3 million. U.S. farmers seeded 84.2 million acres of soybeans in 2014.
Light crude oil nearby futures in New York rose $1.74 to US$55.85 per barrel.
The Canadian dollar at noon was US85.99 cents, down from 86.25 cents the previous trading day. The U.S. dollar at noon was C$1.1629.
In unofficial tallies —
Stronger oil prices supported the Toronto Stock Exchange’s S&P/TSX composite index, which closed up 121.51 points, or 0.85 percent, at 14,468.26.
The Dow Jones industrial average rose 29.22 points, or 0.16 percent, to 17,807.37, the S&P 500 gained 9.5 points, or 0.46 percent, to 2,070.73 and the Nasdaq Composite added 16.98 points, or 0.36 percent, to 4,765.38.
For the week, the TSX composite soared 5.4 percent, the Dow gained three percent, the S&P 500 rose 3.4 percent and the Nasdaq climbed 2.4 percent.
ICE Futures Canada, dollars per tonne
Canola Jan 2015Â Â Â Â Â Â 442.40Â Â Â Â Â Â +0.30Â Â Â Â Â Â +0.07%
Canola Mar 2015Â Â Â Â Â Â 437.10Â Â Â Â Â Â -0.50Â Â Â Â Â Â -0.11%
Canola May 2015Â Â Â Â Â Â 436.10Â Â Â Â Â Â -0.80Â Â Â Â Â Â -0.18%
Canola Jul 2015Â Â Â Â Â Â 435.70Â Â Â Â Â Â -2.00Â Â Â Â Â Â -0.46%
Canola Nov 2015Â Â Â Â Â Â 429.60Â Â Â Â Â Â -2.20Â Â Â Â Â Â -0.51%
Milling Wheat Mar 2015Â Â Â Â Â Â 235.00Â Â Â Â Â Â -9.00Â Â Â Â Â Â -3.69%
Milling Wheat May 2015Â Â Â Â Â Â 238.00Â Â Â Â Â Â -8.00Â Â Â Â Â Â -3.25%
Milling Wheat Jul 2015Â Â Â Â Â Â 239.00Â Â Â Â Â Â -8.00Â Â Â Â Â Â -3.24%
Durum Wheat Mar 2015      357.50      unch      0.00%
Durum Wheat May 2015      357.50      unch      0.00%
Durum Wheat Jul 2015      357.50      unch      0.00%
Barley Mar 2015      177.00      unch      0.00%
Barley May 2015      179.00      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 2015Â Â Â Â Â Â 1030.5Â Â Â Â Â Â -4.5Â Â Â Â Â Â -0.43%
Soybeans Mar 2015Â Â Â Â Â Â 1038.5Â Â Â Â Â Â -4.75Â Â Â Â Â Â -0.46%
Soybeans May 2015Â Â Â Â Â Â 1046Â Â Â Â Â Â -4.25Â Â Â Â Â Â -0.40%
Soybeans Jul 2015Â Â Â Â Â Â 1052Â Â Â Â Â Â -4Â Â Â Â Â Â -0.38%
Soybeans Aug 2015Â Â Â Â Â Â 1050.75Â Â Â Â Â Â -3Â Â Â Â Â Â -0.28%
Soybeans Sep 2015Â Â Â Â Â Â 1032.5Â Â Â Â Â Â -2Â Â Â Â Â Â -0.19%
Soybean Meal Jan 2015Â Â Â Â Â Â 363.5Â Â Â Â Â Â -1.8Â Â Â Â Â Â -0.49%
Soybean Meal Mar 2015Â Â Â Â Â Â 352Â Â Â Â Â Â -1.9Â Â Â Â Â Â -0.54%
Soybean Meal May 2015Â Â Â Â Â Â 347.1Â Â Â Â Â Â -1.3Â Â Â Â Â Â -0.37%
Soybean Oil Jan 2015Â Â Â Â Â Â 31.97Â Â Â Â Â Â +0.08Â Â Â Â Â Â +0.25%
Soybean Oil Mar 2015Â Â Â Â Â Â 32.16Â Â Â Â Â Â +0.08Â Â Â Â Â Â +0.25%
Soybean Oil May 2015Â Â Â Â Â Â 32.38Â Â Â Â Â Â +0.08Â Â Â Â Â Â +0.25%
Corn Mar 2015Â Â Â Â Â Â 410.5Â Â Â Â Â Â -0.5Â Â Â Â Â Â -0.12%
Corn May 2015Â Â Â Â Â Â 419Â Â Â Â Â Â -0.5Â Â Â Â Â Â -0.12%
Corn Jul 2015Â Â Â Â Â Â 426Â Â Â Â Â Â -0.25Â Â Â Â Â Â -0.06%
Corn Sep 2015Â Â Â Â Â Â 428.25Â Â Â Â Â Â -0.25Â Â Â Â Â Â -0.06%
Corn Dec 2015Â Â Â Â Â Â 435Â Â Â Â Â Â +0.25Â Â Â Â Â Â +0.06%
Oats Mar 2015Â Â Â Â Â Â 310.5Â Â Â Â Â Â -5.75Â Â Â Â Â Â -1.82%
Oats May 2015Â Â Â Â Â Â 313.5Â Â Â Â Â Â -6Â Â Â Â Â Â -1.88%
Oats Jul 2015Â Â Â Â Â Â 315.75Â Â Â Â Â Â -2.75Â Â Â Â Â Â -0.86%
Oats Sep 2015Â Â Â Â Â Â 315.25Â Â Â Â Â Â -2.75Â Â Â Â Â Â -0.86%
Oats Dec 2015      311.5      unch      0.00%
Wheat Mar 2015Â Â Â Â Â Â 632.25Â Â Â Â Â Â -23Â Â Â Â Â Â -3.51%
Wheat May 2015Â Â Â Â Â Â 635Â Â Â Â Â Â -21.75Â Â Â Â Â Â -3.31%
Wheat Jul 2015Â Â Â Â Â Â 634.25Â Â Â Â Â Â -19.75Â Â Â Â Â Â -3.02%
Wheat Sep 2015Â Â Â Â Â Â 641.25Â Â Â Â Â Â -19.5Â Â Â Â Â Â -2.95%
Wheat Dec 2015Â Â Â Â Â Â 650.75Â Â Â Â Â Â -19.25Â Â Â Â Â Â -2.87%
Minneapolis
Spring Wheat Mar 2015Â Â Â Â Â Â 648.25Â Â Â Â Â Â -12.75Â Â Â Â Â Â -1.93%
Spring Wheat May 2015Â Â Â Â Â Â 654Â Â Â Â Â Â -13Â Â Â Â Â Â -1.95%
Spring Wheat Jul 2015Â Â Â Â Â Â 660.75Â Â Â Â Â Â -12.5Â Â Â Â Â Â -1.86%
Spring Wheat Sep 2015Â Â Â Â Â Â 664.25Â Â Â Â Â Â -12.5Â Â Â Â Â Â -1.85%
Spring Wheat Dec 2015Â Â Â Â Â Â 672.5Â Â Â Â Â Â -13.25Â Â Â Â Â Â -1.93%
Kansas City
Hard Red Wheat Mar 2015Â Â Â Â Â Â 666Â Â Â Â Â Â -17.75Â Â Â Â Â Â -2.60%
Hard Red Wheat May 2015Â Â Â Â Â Â 670.25Â Â Â Â Â Â -17.25Â Â Â Â Â Â -2.51%
Hard Red Wheat Jul 2015Â Â Â Â Â Â 672Â Â Â Â Â Â -16.25Â Â Â Â Â Â -2.36%
Hard Red Wheat Sep 2015Â Â Â Â Â Â 680Â Â Â Â Â Â -15.25Â Â Â Â Â Â -2.19%
Hard Red Wheat Dec 2015Â Â Â Â Â Â 690.75Â Â Â Â Â Â -15Â Â Â Â Â Â -2.13%
