Weather concerns helped to lift spring wheat and canola futures on Tuesday.
November canola closed up $4.30 or 0.85 percent at $510.50 per tonne.
Kansas and Chicago wheat contracts closed lower, but Minneapolis December wheat jumped up 1.7 percent or 13 1/4 cents, to close at US$7.83 ¼ per bushel.
American crop markets were higher earlier in the day on forecasts that were a little hotter and drier for the Midwest, but then mid-day forecast models put a little more moisture in the outlook and corn and soybeans closed off their highs. The seven-day forecast now has heavy accumulations of four inches or more for southern Minnesota and Wisconsin and lesser but still welcome accumulations or an inch or more in most of Iowa and Illinois.
Read Also
Agi3’s AI-powered individualized farm insurance products win innovation prize
Agi3’s AI-powered individualized farm insurance products won the business solutions prize in the Innovations Program Awards prior to the Agriculture in Motion farm show in Langham, Saskatchewan.
The forecast shows a system on Friday delivering welcome rain to eastern Saskatchewan, moving into Manitoba on Saturday-Sunday.
The slightly higher soybean market helped to lift canola but the loonie rallied above US79 cents, taking some of the shine off the oilseed rally.
OUTSIDE MARKETS
Light crude oil nearby futures in New York were up 38 cents US$46.40 per barrel.
In the afternoon, the Canadian dollar was trading around US79.22 cents, down from 78.79 cents the previous trading day. The U.S. dollar was C$1.2623.
The Toronto Stock Exchange’s S&P/TSX composite index closed down 15.79 points, or 0.1 percent, at 15,149.57.
The Dow Jones Industrial Average fell 54.99 points, or 0.25 percent, to 21,574.73, the S&P 500 gained 1.47 points, or 0.06 percent, to 2,460.61 and the Nasdaq Composite added 29.87 points, or 0.47 percent, to 6,344.31.
Both the Nasdaq and the S&P 500 set record closing highs.
Winnipeg ICE Futures Canada dollars per tonne
Canola Nov 2017 510.50 +4.30 +0.85%
Canola Jan 2018 514.70 +4.50 +0.88%
Canola Mar 2018 517.80 +4.40 +0.86%
Canola May 2018 517.40 +4.60 +0.90%
Canola Jul 2018 517.30 +4.90 +0.96%
Milling Wheat Oct 2017 295.00 +6.00 +2.08%
Milling Wheat Dec 2017 302.00 +7.00 +2.37%
Milling Wheat Mar 2018 306.00 +5.00 +1.66%
Durum Wheat Oct 2017 284.00 unch 0.00%
Durum Wheat Dec 2017 286.00 unch 0.00%
Durum Wheat Mar 2018 287.00 unch 0.00%
Barley Oct 2017 140.00 unch 0.00%
Barley Dec 2017 140.00 unch 0.00%
Barley Mar 2018 140.00 unch 0.00%
American crop prices in cents US/bushel, soybean meal in $US/short ton, soy oil in cents US/pound
Chicago
Soybeans Aug 2017 989.50 +4.75 +0.48%
Soybeans Sep 2017 993.75 +4.75 +0.48%
Soybeans Nov 2017 1001.75 +4.50 +0.45%
Soybeans Jan 2018 1010.00 +4.25 +0.42%
Soybeans Mar 2018 1012.00 +2.25 +0.22%
Soybeans May 2018 1015.50 +1.00 +0.10%
Soybean Meal Aug 2017 323.50 +1.90 +0.59%
Soybean Meal Sep 2017 325.50 +1.70 +0.53%
Soybean Meal Oct 2017 327.50 +1.70 +0.52%
Soybean Oil Aug 2017 33.17 +0.15 +0.45%
Soybean Oil Sep 2017 33.29 +0.15 +0.45%
Soybean Oil Oct 2017 33.39 +0.18 +0.54%
Corn Sep 2017 377.00 +2.00 +0.53%
Corn Dec 2017 390.75 +2.50 +0.64%
Corn Mar 2018 401.50 +2.50 +0.63%
Corn May 2018 406.50 +2.50 +0.62%
Corn Jul 2018 411.50 +2.75 +0.67%
Oats Sep 2017 291.75 +5.50 +1.92%
Oats Dec 2017 292.00 +2.75 +0.95%
Oats Mar 2018 289.75 +3.00 +1.05%
Oats May 2018 288.75 +3.00 +1.05%
Oats Jul 2018 287.50 +3.00 +1.05%
Wheat Sep 2017 503.75 -1.75 -0.35%
Wheat Dec 2017 526.75 -3.25 -0.61%
Wheat Mar 2018 546.00 -3.75 -0.68%
Wheat May 2018 556.50 -3.50 -0.62%
Wheat Jul 2018 561.25 -4.00 -0.71%
Minneapolis
Spring Wheat Sep 17 780.5 +13.25 +1.73%
Spring Wheat Dec 17 783.25 +13.25 +1.72%
Spring Wheat Mar 18 776.5 +13.75 +1.80%
Spring Wheat May 18 763.25 +13.25 +1.77%
Spring Wheat Jul 18 745.25 +10.0 +1.36%
Kansas City
Hard Red Wheat Sep 2017 502.75 -4.00 -0.79%
Hard Red Wheat Dec 2017 529.25 -3.75 -0.70%
Hard Red Wheat Mar 2018 545.50 -4.25 -0.77%
Hard Red Wheat May 2018 558.50 -3.25 -0.58%
Hard Red Wheat Jul 2018 569.00 -3.00 -0.52%
Chicago livestock futures in US¢/pound (rounded to two decimal places)
Live Cattle (P) Aug 2017 115.08 -1.73 -1.48%
Live Cattle (P) Oct 2017 116.88 -1.68 -1.42%
Live Cattle (P) Dec 2017 117.50 -1.75 -1.47%
Feeder Cattle (P) Aug 2017 151.60 -3.13 -2.02%
Feeder Cattle (P) Sep 2017 151.65 -3.22 -2.08%
Feeder Cattle (P) Oct 2017 150.42 -3.23 -2.10%
Lean Hogs (P) Aug 2017 80.50 -0.30 -0.37%
Lean Hogs (P) Oct 2017 67.88 -0.15 -0.22%
Lean Hogs (P) Dec 2017 62.62 +0.05 +0.08%
