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cross the board, crop futures in North America rose Monday, pulled higher mostly on concerns about the slow pace of seeding.
Canola joined in the positive motion, rising more than five cents per bushel or $2.40 per tonne for the November contract and more than double that, up $5.30 per tonne, for the July contract.
Canola contracts remain sharply inverted between old and new crop months, with July stronger by about 85 cents per bu., riding concerns about tight old crop stocks.
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Prairie Wheat Weekly: Wheat, durum cash prices lower on the week
Cash prices for spring wheat and durum across the Canadian Prairies pulled back during the week ended July 24.
Today’s rally was spread across the crop spectrum.
Hard red spring was the weakest of the three wheat futures contracts, with a less than four-cent gain for July, while July hard red winter wheat rose more than seven cents.
Oats rose slightly, with July rising 3.5 cents per bushel and December up 2.25 cents.
Traders, commercial users, analysts and speculators are closely watching seeding progress in the U.S. and Canada, which is significantly late. Reports of more showers to come this week across the Midwest had anxious traders worried about acreage and quality of production.
They are also watching the dryness situation in Russia, which some think threatens to impose a large yield loss and perhaps inspire a rally.
Commodities markets were mixed Monday, as were equity markets.
Winnipeg ICE Futures Canada dollars per tonne
Canola May 2013 653.80 +5.30 +0.82%
Canola Jul 2013 623.80 +5.30 +0.86%
Canola Nov 2013 538.00 +2.40 +0.45%
Canola Jan 2014 539.30 +2.70 +0.50%
Canola Mar 2014 534.80 +2.70 +0.51%
Milling Wheat May 2013 292.00 unch 0.00%
Milling Wheat Jul 2013 294.00 unch 0.00%
Milling Wheat Oct 2013 294.00 unch 0.00%
Durum Wheat May 2013 301.90 unch 0.00%
Durum Wheat Jul 2013 301.90 unch 0.00%
Durum Wheat Oct 2013 294.90 unch 0.00%
Barley May 2013 243.50 unch 0.00%
Barley Jul 2013 244.00 unch 0.00%
Barley Oct 2013 194.00 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 2013 1521 +32.75 +2.20%
Soybeans Jul 2013 1419.25 +20.25 +1.45%
Soybeans Aug 2013 1345 +15 +1.13%
Soybeans Sep 2013 1263 +8.75 +0.70%
Soybeans Nov 2013 1209.75 +4.25 +0.35%
Soybeans Jan 2014 1217.5 +4.75 +0.39%
Soybean Meal May 2013 457.9 +13.6 +3.06%
Soybean Meal Jul 2013 415.1 +8.3 +2.04%
Soybean Meal Aug 2013 388.6 +4.8 +1.25%
Soybean Oil May 2013 49.61 +0.44 +0.89%
Soybean Oil Jul 2013 49.61 +0.38 +0.77%
Soybean Oil Aug 2013 49.36 +0.36 +0.73%
Corn May 2013 718 +30.25 +4.40%
Corn Jul 2013 655.5 +19.25 +3.03%
Corn Sep 2013 568.5 +14 +2.52%
Corn Dec 2013 539.25 +9.75 +1.84%
Corn Mar 2014 549.25 +9.25 +1.71%
Oats May 2013 412.5 +3.5 +0.86%
Oats Jul 2013 382 +3.5 +0.92%
Oats Sep 2013 368.5 +1.75 +0.48%
Oats Dec 2013 359.75 +2.25 +0.63%
Oats Mar 2014 365.75 +4.25 +1.18%
Wheat May 2013 701.5 +4.75 +0.68%
Wheat Jul 2013 709.75 +5.5 +0.78%
Wheat Sep 2013 718 +5.5 +0.77%
Wheat Dec 2013 735 +5 +0.68%
Wheat Mar 2014 752.5 +5.5 +0.74%
Minneapolis
Spring Wheat May 2013 857.75 unch 0.00%
Spring Wheat Jul 2013 812.5 +3.75 +0.46%
Spring Wheat Sep 2013 808.5 +3.75 +0.47%
Spring Wheat Dec 2013 817 +4.75 +0.58%
Spring Wheat Mar 2014 827.75 +4.5 +0.55%
Kansas City
KCBT Red Wheat May 2013 760.5 -11 -1.43%
KCBT Red Wheat Jul 2013 766.5 +7.75 +1.02%
KCBT Red Wheat Sep 2013 774.75 +7.75 +1.01%
KCBT Red Wheat Dec 2013 792.75 +8.25 +1.05%
KCBT Red Wheat Mar 2014 806.5 +8.75 +1.10%
Light crude oil nearby futures in New York down 87 cents at $95.17 US per barrel.
The Canadian dollar at noon was 98.93 cents US, up from 98.78 cents the previous trading day. The U.S. dollar at noon was $1.0108 Cdn.
