Dry and vulnerable U.S. winter wheat areas helped push wheat up over 13 cents per bushel on an otherwise unexciting day in the crop futures markets.
Winter wheat crops are coming out of dormancy after a dry winter, which left little protective snow cover.
Most crop futures were slightly lower on signs of export weakness, but with wheat the questions about the potential of the winter wheat crop trumped demand concerns.
Canola managed to eke out a small gain, rising $1.40 per tonne for May futures to $460.70, and up $1.30 to $456.60 for July.
Read Also
U.S. grains: Soybean futures jump on hopes for US export demand
Chicago Board of Trade soybean futures jumped on hopes for U.S. export demand on Wednesday, while corn futures rose for a third day to extend a recovery from contract lows, analysts said.
Malaysian palm oil futures fell slightly, but Paris canola prices rose slightly.
India has a poor rapeseed crop and encouraged speculation that vegetable oil imports will rise.
Oats rose slightly but was virtually flat.
Stock markets generally rose, with the Dow 30 surging over 200 points as investors relaxed about many of the things they had been worried about in recent days.
In market news that many would consider odd, Coca-Cola is reported by the Associated Press as having worked with nutrition and diet experts to promote Coke as a snack. The soft drink giant has promoted mini-cans of Coke as an alternative to the regular-sized cans, which in many dieticians and others eyes seem like obesity-in-a-can.
The company has worked with numerous “consultants,” some it has hired or paid, to improve the image of the quintessentially American beverage.
Light crude oil nearby futures in New York were down 96 cents to US$43.88 per barrel.
The Canadian dollar at noon was US78.34 cents, up from US78.11 cents the previous trading day. The U.S. dollar at noon was C$1.2765.
The Toronto Stock Exchange’s S&P/TSX composite index closed up 131.26 points, or 0.89 percent, at 14,862.76.
The Dow Jones industrial average rose 228.11 points, or 1.29 percent, to 17,977.42, the S&P 500 gained 27.79 points, or 1.35 percent, to 2,081.19 and the Nasdaq Composite added 57.75 points, or 1.19 percent, to 4,929.51.
Winnipeg ICE Futures Canada dollars per tonne
Canola May 2015 460.70 +1.40 +0.30%
Canola Jul 2015 456.60 +1.30 +0.29%
Canola Nov 2015 446.40 +1.50 +0.34%
Canola Jan 2016 447.50 +1.50 +0.34%
Canola Mar 2016 450.10 +1.50 +0.33%
Milling Wheat May 2015 242.00 +7.00 +2.98%
Milling Wheat Jul 2015 244.00 +6.00 +2.52%
Milling Wheat Oct 2015 247.00 +5.00 +2.07%
Durum Wheat May 2015 323.00 unch 0.00%
Durum Wheat Jul 2015 313.00 unch 0.00%
Durum Wheat Oct 2015 318.00 unch 0.00%
Barley May 2015 184.00 unch 0.00%
Barley Oct 2015 177.00 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 2015 969.25 -4.75 -0.49%
Soybeans Jul 2015 973.75 -4.25 -0.43%
Soybeans Aug 2015 972.5 -4 -0.41%
Soybeans Sep 2015 959.25 -3.5 -0.36%
Soybeans Nov 2015 951.5 -1.75 -0.18%
Soybeans Jan 2016 956.5 -1.5 -0.16%
Soybean Meal May 2015 323.7 -3.3 -1.01%
Soybean Meal Jul 2015 320.8 -2.9 -0.90%
Soybean Meal Aug 2015 319.2 -2.9 -0.90%
Soybean Oil May 2015 30.39 -0.1 -0.33%
Soybean Oil Jul 2015 30.58 -0.11 -0.36%
Soybean Oil Aug 2015 30.66 -0.1 -0.33%
Corn May 2015 379 -1.5 -0.39%
Corn Jul 2015 387 -1 -0.26%
Corn Sep 2015 394.75 -0.75 -0.19%
Corn Dec 2015 404.25 -0.5 -0.12%
Corn Mar 2016 413.75 unch 0.00%
Oats May 2015 278 +0.25 +0.09%
Oats Jul 2015 280.5 +1 +0.36%
Oats Sep 2015 282.75 unch 0.00%
Oats Dec 2015 280 unch 0.00%
Oats Mar 2016 285.25 -1.75 -0.61%
Wheat May 2015 514 +12 +2.39%
Wheat Jul 2015 516.5 +13.25 +2.63%
Wheat Sep 2015 526 +13.5 +2.63%
Wheat Dec 2015 539.25 +13.25 +2.52%
Wheat Mar 2016 551.75 +13.75 +2.56%
Minneapolis
Spring Wheat Jul 2015 586.5 +14 +2.45%
Spring Wheat Sep 2015 594.25 +14 +2.41%
Spring Wheat Dec 2015 603.5 +13.25 +2.24%
Spring Wheat Mar 2016 614.5 +12.25 +2.03%
Kansas City
Hard Red Wheat May 2015 555 +15.75 +2.92%
Hard Red Wheat Jul 2015 559.75 +16 +2.94%
Hard Red Wheat Sep 2015 571.5 +16.25 +2.93%
Hard Red Wheat Dec 2015 587 +15.5 +2.71%
Hard Red Wheat Mar 2016 598.75 +14.75 +2.53%
