November canola futures sagged on Wednesday with a stronger loonie and talk of improving production prospects.
Rain is in the forecast for large areas with as much as an inch in parts of Saskatchewan’s northern grainbelt.
Many producers would like sunny, warmer weather to advance crop maturity.
November canola closed at $502, down $4 or 0.79 percent. It was the first time in five days that the contract closed lower.
Soybeans rose slightly on strength in meal but soy oil was lower.
The forecast for the Midwest out to the middle of the month is for less than normal moisture and that could stress soybeans as they set pods.
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U.S. soybean futures reached a 15-month high on Thursday after President Donald Trump’s administration said top-importer China agreed to buy tens of millions of tons of American crops in the next few years as part of a trade truce.
Wheat also rose on bargain buying after prices fell to five year lows.
Reuters reported Egypt’s main state wheat buyer bought 120,000 tonnes of Russian wheat at roughly US $188 per ton FOB. Underscoring views that U.S. wheat is overpriced, Cargill in the tender offered U.S. soft red winter wheat priced at $216 per tonne FOB and U.S. hard red winter wheat at $224 FOB.
Analysts in France today forecast a record large soft wheat crop there.
Light crude oil nearby futures in New York were down 59 cents to US$45.15 per barrel.
The Canadian dollar at noon was US75.86 cents, down from 76.19 cents the previous trading day. The U.S. dollar at noon was C$1.3183.
The Toronto Stock Exchange’s S&P/TSX composite index unofficially closed up 11.94 points, or 0.08 percent, at 14,502.99.
The Dow Jones industrial average fell 10.22 points, or 0.06 percent, to 17,540.47; the S&P 500 gained 6.52 points, or 0.31 percent, to 2,099.84; and the Nasdaq Composite added 34.40 points, or 0.67 percent, to 5,139.95.
Winnipeg ICE Futures Canada dollars per tonne
Canola Nov 2015 502.00 -4.00 -0.79%
Canola Jan 2016 500.30 -2.90 -0.58%
Canola Mar 2016 498.50 -2.60 -0.52%
Canola May 2016 494.50 -2.40 -0.48%
Canola Jul 2016 489.50 -2.40 -0.49%
Milling Wheat Oct 2015 215.00 +3.00 +1.42%
Milling Wheat Dec 2015 215.00 +3.00 +1.42%
Milling Wheat Mar 2016 219.00 +3.00 +1.39%
Durum Wheat Oct 2015 370.00 +35.00 +10.45%
Durum Wheat Dec 2015 380.00 +35.00 +10.14%
Durum Wheat Mar 2016 395.00 +35.00 +9.72%
Barley Oct 2015 208.10 unch 0.00%
Barley Dec 2015 208.10 unch 0.00%
Barley Mar 2016 210.10 unch 0.00%
American crop prices in cents US/bushel, soybean meal in $US/short ton, soy oil in cents US/pound
Chicago
Soybeans Aug 2015 991.75 +15.75 +1.61%
Soybeans Sep 2015 962.75 +14 +1.48%
Soybeans Nov 2015 953.25 +11 +1.17%
Soybeans Jan 2016 958.25 +10.5 +1.11%
Soybeans Mar 2016 953.75 +8.5 +0.90%
Soybean Meal Aug 2015 355.1 +4.4 +1.25%
Soybean Meal Sep 2015 343.8 +6.3 +1.87%
Soybean Meal Oct 2015 335.1 +6.7 +2.04%
Soybean Oil Aug 2015 29.63 -0.2 -0.67%
Soybean Oil Sep 2015 29.73 -0.22 -0.73%
Soybean Oil Oct 2015 29.84 -0.22 -0.73%
Corn Sep 2015 372.75 +4 +1.08%
Corn Dec 2015 383.25 +4.5 +1.19%
Corn Mar 2016 394.5 +4.75 +1.22%
Corn May 2016 401 +5 +1.26%
Corn Jul 2016 405.5 +4.5 +1.12%
Oats Sep 2015 235 -0.75 -0.32%
Oats Dec 2015 244.25 -2 -0.81%
Oats Mar 2016 254 -0.5 -0.20%
Oats May 2016 258.75 -0.5 -0.19%
Oats Jul 2016 259.75 -0.5 -0.19%
Wheat Sep 2015 502 +8.5 +1.72%
Wheat Dec 2015 507.25 +7 +1.40%
Wheat Mar 2016 514 +6 +1.18%
Wheat May 2016 518.5 +5.75 +1.12%
Wheat Jul 2016 521.75 +5.25 +1.02%
Minneapolis
Spring Wheat Sep 2015 515.5 +1.75 +0.34%
Spring Wheat Dec 2015 532.5 +1.5 +0.28%
Spring Wheat Mar 2016 549.75 +1.75 +0.32%
Spring Wheat May 2016 561.25 +1.5 +0.27%
Spring Wheat Jul 2016 572 +2 +0.35%
Kansas City
Hard Red Wheat Sep 2015 489.5 +4.5 +0.93%
Hard Red Wheat Dec 2015 509.75 +4.75 +0.94%
Hard Red Wheat Mar 2016 523.25 +4.75 +0.92%
Hard Red Wheat May 2016 533.25 +4.75 +0.90%
Hard Red Wheat Jul 2016 542 +4.75 +0.88%
