Grain markets were open Monday, but with New York stock markets closed because of Hurricane Sandy, trade was light and except for soybeans most prices barely moved.
Equity markets will be closed again Tuesday so expected more light trade tomorrow.
The loonie fell below par for the first time since early July.
Today, nearby November canola closed at $619.10, up 20 cents but deferred contracts were down $2 to $4 per tonne.
Canola faired better than soybeans, which fell more than two percent on improving moisture in dry parts of Brazil.
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U.S. soybean exports are strong and so far on pace to meet the USDA’s export target, but there are fears that demand could shift later this year to South America if it harvests a record large soybean crop, as expected.
Despite a building chorus of farmers, traders and grain companies complaining about longer Chicago trading hours, CME executive chairman Terrence Duffy told Reuters that the new format will stay. He said the CME had to stay open to meet the competition from the Intercontinental Exchange’s extended trading hours.
Winnipeg (per tonne)
Canola Nov 12 $619.10, up $0.20 +0.03%
Canola Jan 13 $617.90, down $2.00 -0.32%
Canola Mar 13 $614.50, down $3.20 -0.52%
Canola May 13 $608.80, down $4.20 -0.69%
Milling Wheat Dec 12 $308.50, unchanged
Milling Wheat Mar 13 $318.00, unchanged
Milling Wheat May 13 $321.00, unchanged
Durum Wheat Dec 12 $312.40, unchanged
Durum Wheat Mar 13 $319.00, unchanged
Durum Wheat May 13 $323.00, unchanged
Barley Dec 12 $250.00, unchanged
Barley Mar 13 $253.00, unchanged
Barley May 13 $254.00, unchanged
Chicago (per bushel)
Soybeans (P) Nov 12 $15.2725, down 34.0 -2.18%
Soybeans (P) Jan 13 $15.2975, down 34.0 -2.17%
Soybeans (P) Mar 13 $15.0575, down 31-2 $-2.03%
Soybeans (P) May 13 $14.6025, down 27.75 -1.86%
Corn (P) Dec 12 $7.37, down 0.75 -0.10%
Corn (P) Mar 13 $7.39, down 0.75 -0.10%
Corn (P) May 13 $7.36, down 1.0 -0.14%
Oats (P) Dec 12 $3.8775, down 2.0 -0.51%
Oats (P) Mar 13 $3.94, down 2.5 -0.63%
Oats (P) May 13 $3.9475, down 1.5 -0.38%
Minneapolis (per bushel)
Spring Wheat Dec 12 $9.3825, down 1.75 -0.19%
Spring Wheat Mar 13 $9.4225, down 1.75 -0.19%
Spring Wheat May 13 $9.485, down 2.5 -0.26%
Spring Wheat Jul 13 $9.4975, down 2.25 -0.24%
The Bank of Canada noon rate for the loonie was 99.96 cents US, down from $1.001 on Friday.
The U.S. buck was $1.0004 Cdn.
The closure of a good part of the U.S. East Coast refining sector ahead of Hurricane Sandy put pressure on oil prices.
In electronic trade CME light sweet crude closed down 74 cents at $85.54 per barrel.
The Toronto Stock Exchange’s S&P/TSX composite index closed up 12.45 points, or 0.10 percent, at 12,312.75.
