Worries about the effect of hot, dry weather on crops in Argentina pushed canola and other crop futures higher on Dec. 30.
January canola closed at $525.80 per tonne, up $2.80. New crop November canola closed at $508.30, up $8.10.
Canola fell almost 10 percent over the year, the first drop since 2008. Global economic uncertainty and a record size crop contributed to the annual loss.
Chicago soybean futures gained 15.5 cents Friday to close at $12.03 per bushel as traders covered short positions and worried about South American crop weather.
Over the year, soybeans fell 13.7 percent on a slowing of U.S. soy exports and a softening world economy. It was the first decline in three years.
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Chicago corn futures March closed up 9.25 cents at $6.4725 per bu., a six-week high.
Corn ended 2011 up 2.9 percent for the year, lifted by the late December surge, but the market finished 19 percent below the record high of $7.9975 per bu. set in June.
Chicago wheat rose eight cents on Friday to close at $6.5325 per bu.
Chicago wheat posted its third loss over the last four years, ending down 17.8 percent on abundant global stocks and strong competition from the Black Sea region.
Chicago Mercantile Exchange live cattle futures ended 2011 up 14.1 percent, the fourth annual gain in the past five years, as tight cattle supplies sent cash prices to record highs.
Winnipeg (per tonne)
Canola Jan 12 $525.80, up $2.80 (+0.54%)
Canola Mar 12 $524.30, up $4.30 (+0.83%)
Canola May 12 $527.20, up $5.80 (+1.11%)
Canola Nov 12 $508.30, up $8.10 (+1.62%)
The previous day’s best basis was $11.57 below the January contract, according to ICE Futures Canada in Winnipeg.
Western Barley Mar 12 $217.00, unchanged
Chicago (per bushel)
Soybeans Jan 12 $11.985, up 11.0 cents (+0.93%)
Soybeans Mar 12 $12.0775, up 10.75 (+0.90%)
Soybeans Nov 12 $12.0425, up 3.75 (+0.31%)
Corn Mar 12 $6.465, up 8.5 (+1.33%)
Corn Dec 12 $5.8625, up 4.25 (+0.73%)
Oats Mar 12 $3.095, up 3.5 (+1.14%)
Oats May 12 $3.1325, up 2.75 (+0.89%)
Minneapolis (per bushel)
Spring Wheat Mar 12 $8.495, down 5.75 cents (-0.67%)
Spring Wheat May 12 $8.2525, down 3.5 (-0.42%)
Spring Wheat Dec 12 $7.975, up 3.0 (+0.38%)
Nearby light crude oil in New York fell 82 cents to settle at $98.83 a barrel.
The Canadian dollar at noon climbed to 98.33 cents US, up from 97.94 the previous trading day. The U.S. dollar at noon was $1.0170 Cdn.
The Toronto Stock Exchange composite unofficially closed up 113.39 points, or 0.96 percent, at 11,955.09
The Standard and Poor’s 500 was down 4.39 points, or 0.35 percent, at 1,258.63.
The TSX composite index closed the year down about 11 percent as the global economic turmoil hurt the commodity heavy exchange. For the year the S&P 500 was up 0.2 percent the Dow gained 5.7 percent as investors sought safety in large-cap, dividend-paying stocks. The Nasdaq is down 1.6 percent.
