Canola rose Monday, propelled higher by a waft of recovery air as a “risk on” attitude inflated most assets.
It was a particularly good day for crop futures, which were often the strongest commodity class during the day. The main area of weakness was in precious metals, underlining the risk-on nature of the markets.
Even the meats were strong Monday, escaping the negativity of last week’s potentially bearish news about bird flu in Asia and Russian import bans that made most North American pork and beef unacceptable due to ractopamine.
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The world’s stock markets were in a buoyant mood, recovering some of the confidence lost in the end-of-week rout.
The same was true of crops, which responded well to news of adequate export sales figures.
May canola futures rose $7 per tonne to $618.20, while November rose $7.60 to $556.30.
Wheat was strong Monday, helped by reports of a big sale of hard red winter wheat, rising more than two and a half percent in Kansas City contracts, almost two percent for Chicago contract and about one-and-a-half percent for Minneapolis wheat.
Winnipeg ICE Futures Canada dollars per tonne
Canola May 2013 618.20 +7.00 +1.15%
Canola Jul 2013 604.50 +6.60 +1.10%
Canola Nov 2013 556.30 +7.60 +1.39%
Canola Jan 2014 556.20 +6.90 +1.26%
Canola Mar 2014 550.00 +5.10 +0.94%
Milling Wheat May 2013 292.00 unch 0.00%
Milling Wheat Jul 2013 294.00 unch 0.00%
Milling Wheat Oct 2013 294.00 unch 0.00%
Durum Wheat May 2013 310.80 -0.20 -0.06%
Durum Wheat Jul 2013 313.80 -0.20 -0.06%
Durum Wheat Oct 2013 299.10 -0.20 -0.07%
Barley May 2013 243.50 unch 0.00%
Barley Jul 2013 244.00 unch 0.00%
Barley Oct 2013 244.00 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 2013 1378 +16.25 +1.19%
Soybeans Jul 2013 1358 +14.25 +1.06%
Soybeans Aug 2013 1329.25 +12 +0.91%
Soybeans Sep 2013 1270.5 +5.5 +0.43%
Soybeans Nov 2013 1232.25 +4.25 +0.35%
Soybeans Jan 2014 1238.25 +4.25 +0.34%
Soybean Meal May 2013 393.3 +1.5 +0.38%
Soybean Meal Jul 2013 393 +2.5 +0.64%
Soybean Meal Aug 2013 382 +2.3 +0.61%
Soybean Oil May 2013 49.52 +0.69 +1.41%
Soybean Oil Jul 2013 49.76 +0.65 +1.32%
Soybean Oil Aug 2013 49.77 +0.63 +1.28%
Corn May 2013 633.5 +4.5 +0.72%
Corn Jul 2013 619.5 +1.75 +0.28%
Corn Sep 2013 551.25 -0.75 -0.14%
Corn Dec 2013 532 -3 -0.56%
Corn Mar 2014 542.5 -3.5 -0.64%
Oats May 2013 363.75 +4.25 +1.18%
Oats Jul 2013 356 +4 +1.14%
Oats Sep 2013 350 +0.75 +0.21%
Oats Dec 2013 347 +2 +0.58%
Oats Mar 2014 345.75 +2 +0.58%
Wheat May 2013 712.5 +13.5 +1.93%
Wheat Jul 2013 717.5 +13.25 +1.88%
Wheat Sep 2013 725.25 +13 +1.83%
Wheat Dec 2013 738 +13 +1.79%
Wheat Mar 2014 750 +11.75 +1.59%
Minneapolis
Spring Wheat May 2013 799.75 +12.25 +1.56%
Spring Wheat Jul 2013 797.5 +11 +1.40%
Spring Wheat Sep 2013 797 +10 +1.27%
Spring Wheat Dec 2013 806.5 +9 +1.13%
Spring Wheat Mar 2014 816.75 +6 +0.74%
Kansas City
KCBT Red Wheat May 2013 745 +19 +2.62%
KCBT Red Wheat Jul 2013 752 +19.25 +2.63%
KCBT Red Wheat Sep 2013 763 +18 +2.42%
KCBT Red Wheat Dec 2013 778.75 +16.25 +2.13%
KCBT Red Wheat Mar 2014 790.25 +15.25 +1.97%
Light crude oil nearby futures in New York rose 66 cents at $93.36 US per barrel.
The Canadian dollar at noon was 98.06 cents US, down from 98.13 cents the previous trading day. The U.S. dollar at noon was $1.0198 Cdn.
