Canola closed a little lower on Thursday weakened by a general decline across most oilseeds.
Wheat was again the bright spot for farmers with the Minneapolis spring wheat price edging higher again on strong U.S. exports and expectations of continuing demand. The stronger wheat price supported corn.
Rain over large parts of Saskatchewan and Manitoba yesterday and today have stalled harvest but mostly sunny days are in the five-day forecast.
Saskatchewan Agriculture today said about 70 percent of all crops in the province is now harvested.
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Prairie Wheat Weekly Spring wheat prices decline
Western Canadian spring wheat prices were mostly lower, while those for durum were relatively steady during the week ended Aug. 14, 2025.
It said the average yield of the canola harvested so far is about 38 bushels per acre. Spring wheat was seen averaging 46 bu. an acre.
There is downward pressure on canola from the reports of above average-to-record yields. Soybeans are under pressure from the start of the U.S. harvest.
Palm oil is under pressure as plantations move into their peak production period of the year.
USDA said on Thursday morning that old-crop export sales of U.S. wheat were 620,200 tonnes in the latest week, in line with the analysts’ robust expectations of between 500,000 to 700,000 tonnes. That followed last week’s report that showed that exporters had loaded and shipped the largest weekly volume of U.S. wheat in at least 23 years.
Wheat rose despite bearish news from the International Grains Council. The IGC raised its forecast for 2013-14 global wheat production by two million tonnes to 693 million. It trimmed its wheat consumption estimate to 687 million tonnes from 688 million, with 2013-14 ending stocks raised by four million tonnes to 160 million tonnes.
Global corn production was cut by two million tonnes to 943 million with improved prospects in Ukraine more than offset by diminished outlooks in China and the European Union.
An official with China’s state-owned grain trader, COFCO Co., told a conference that the country will likely have to drop its target of being 95 percent self sufficient in grain production. Fan Zhenyu said that in corn the self-sufficiency level would likely fall to 90 percent by 2020, implying imports of 20 million tonnes of corn, Reuters reported.
Last year it imported a little more than five million tonnes.
USDA issues its annual small grains report and quarterly grain stocks report on Monday.
ICE Futures Canada increased its wheat contract by $3 but there was no trade. There is no open interest in the contract. It lowered its durum contract prices. There is also no open interest in that contract.
Winnipeg ICE Futures Canada dollars per tonne
Canola Nov 2013 483.20 -1.70 -0.35%
Canola Jan 2014 492.50 -2.10 -0.42%
Canola Mar 2014 500.20 -2.10 -0.42%
Canola May 2014 506.30 -2.10 -0.41%
Canola Jul 2014 512.20 -2.20 -0.43%
Milling Wheat Oct 2013 236.00 +3.00 +1.29%
Milling Wheat Dec 2013 240.00 +3.00 +1.27%
Milling Wheat Mar 2014 246.00 +2.00 +0.82%
Durum Wheat Oct 2013 249.00 -10.00 -3.86%
Durum Wheat Dec 2013 257.00 -10.00 -3.75%
Durum Wheat Mar 2014 263.00 -10.00 -3.66%
Barley Oct 2013 158.30 unch 0.00%
Barley Dec 2013 161.30 unch 0.00%
Barley Mar 2014 163.30 unch 0.00%
American crop prices in cents US/bushel, soybean meal in $US/short ton, soy oil in cents US/pound
Chicago
Soybeans Nov 2013 1316.75 -5 -0.38%
Soybeans Jan 2014 1318.75 -5.25 -0.40%
Soybeans Mar 2014 1298 -7.5 -0.57%
Soybeans May 2014 1275.25 -8.25 -0.64%
Soybeans Jul 2014 1268 -6.75 -0.53%
Soybean Meal Oct 2013 416.4 -2.2 -0.53%
Soybean Meal Dec 2013 414.9 -2.2 -0.53%
Soybean Meal Jan 2014 413.2 -2.7 -0.65%
Soybean Oil Oct 2013 41.79 -0.03 -0.07%
Soybean Oil Dec 2013 42.05 -0.04 -0.10%
Soybean Oil Jan 2014 42.34 -0.03 -0.07%
Corn Dec 2013 456.75 +2 +0.44%
Corn Mar 2014 469.5 +2.25 +0.48%
Corn May 2014 477.5 +2 +0.42%
Corn Jul 2014 483.75 +2 +0.42%
Corn Sep 2014 486.5 +2.5 +0.52%
Oats Dec 2013 318.5 +4.75 +1.51%
Oats Mar 2014 312.75 +2.25 +0.72%
Oats May 2014 313.5 +1.5 +0.48%
Oats Jul 2014 308.75 +1.5 +0.49%
Oats Sep 2014 313.75 +1.5 +0.48%
Wheat Dec 2013 678.25 +7.75 +1.16%
Wheat Mar 2014 688.25 +7.5 +1.10%
Wheat May 2014 692.25 +6.75 +0.98%
Wheat Jul 2014 683.25 +6.25 +0.92%
Wheat Sep 2014 688 +6 +0.88%
Minneapolis
Spring Wheat Dec 2013 724.5 +6.25 +0.87%
Spring Wheat Mar 2014 734 +6.75 +0.93%
Spring Wheat May 2014 738.5 +5.75 +0.78%
Spring Wheat Jul 2014 741.5 +3.75 +0.51%
Spring Wheat Sep 2014 744.75 +4.75 +0.64%
Kansas City
KCBT Red Wheat Dec 2013 727.25 +9 +1.25%
KCBT Red Wheat Mar 2014 729 +9.75 +1.36%
KCBT Red Wheat Jul 2014 712 +7 +0.99%
KCBT Red Wheat Sep 2014 719.25 +6 +0.84%
Light crude oil nearby futures in New York rose 37 cents at $103.03 US per barrel.
The Canadian dollar at noon was 96.89 cents US, down from 97.13 cents the previous trading day. The U.S. dollar at noon was $1.0321 Cdn.
Positive U.S. economic data outweighed concerns about the budget and debt ceiling standoff in Washington.
Data showing the number of Americans filing new claims for jobless benefits dropped last week to a near six-year low.
In unofficial tallies —
The Toronto Stock Exchange’s S&P/TSX composite index ended up 4.91 points, or 0.04 percent, at 12,841.62.
The Dow Jones industrial average rose 55.10 points, or 0.36 percent, at 15,328.36.
The Standard & Poor’s 500 Index was up 5.88 points, or 0.35 percent, at 1,698.65.
The Nasdaq Composite Index was up 26.33 points, or 0.70 percent, at 3,787.43.
