Canola futures rallied again Tuesday, lifted by talk of new export demand from China.
Reuters reported China was in the market ahead of its New Year holiday.
A rally in soy meal, fueled by commercial buying, helped lift soybeans, which also supported canola futures. Also, the data from the National Oilseed Processors Association showed near-record domestic U.S. soybean crushing in January.
March canola rose $5.40 a tonne or 1.16 percent while May climbed $2.90 or 0.63 percent.
March has a $6.80 premium over May.
Wheat closed higher, supported by cold weather in the United States, which threatens any exposed winter wheat, however it closed well off the day’s high as concerns remain about large global supplies and the competitiveness of American wheat.
Read Also
U.S. livestock: Cattle slip back, hogs gain
Chicago cattle futures slipped back on Friday after Thursday’s pause. Hog futures crept upward. Most-active December live cattle futures closed…
U.S. wheat exports are running 30 percent behind last year’s pace.
The Russian tax on wheat exports sharply reduced its weekly export numbers. However, the farmers’ lobby there has noted that Russian grain exporters have one million tonnes of wheat consigned under contracts signed before the government brought in export restrictions.
The cease fire in Ukraine seems all but officially ended as clashes between pro-Russian rebels and government forces intensify.
Corn edged higher on technical factors.
Stock markets remained on edge over whether Greece would be able to work out a deal with its euro zone partners on its debt repayment.
Light crude oil nearby futures in New York rose 75 cents to US$53.53 per barrel.
The Canadian dollar at noon was US80.63 cents, up from 80.33 cents the previous trading day. The U.S. dollar at noon was C$1.2403.
The Toronto Stock Exchange’s S&P/TSX composite index closed up 19.80 points, or 0.13 percent, at 15,284.61.
The Dow Jones industrial average rose 28.23 points, or 0.16 percent, to 18,047.58, the S&P 500 gained 3.35 points, or 0.16 percent, to 2,100.34, a record high.
The Nasdaq Composite added 5.43 points, or 0.11 percent, to 4,899.27.
Â
ICE Futures Canada, dollars per tonne
Â
Canola Mar 2015Â Â Â Â Â 472.80Â Â Â Â +5.40Â Â Â Â Â +1.16%
Canola May 2015Â Â Â Â 466.00Â Â Â Â +2.90Â Â Â Â Â +0.63%
Canola Jul 2015Â Â Â Â Â Â 461.40Â Â Â Â +2.60Â Â Â Â Â +0.57%
Canola Nov 2015Â Â Â Â 450.40Â Â Â Â +2.00Â Â Â Â Â +0.45%
Canola Jan 2016Â Â Â Â Â 452.30Â Â Â Â +1.00Â Â Â Â Â +0.22%
Milling Wheat Mar 2015Â Â Â 228.00Â Â Â Â +1.00Â Â Â Â Â +0.44%
Milling Wheat May 2015Â Â Â 237.00Â Â Â Â +1.00Â Â Â Â Â +0.42%
Milling Wheat Jul 2015Â Â Â Â 239.00Â Â Â Â +1.00Â Â Â Â Â +0.42%
Durum Wheat Mar 2015Â Â 333.00Â Â Â Â unch 0.00%
Durum Wheat May 2015Â Â 323.00Â Â Â Â unch 0.00%
Durum Wheat Jul 2015Â Â Â Â 313.00Â Â Â Â unch 0.00%
Barley Mar 2015Â Â Â Â Â 185.00Â Â Â Â -10.00Â Â Â Â -5.13%
Barley May 2015Â Â Â Â Â 187.00Â Â Â Â -10.00Â Â Â Â -5.08%
Barley Jul 2015Â Â Â Â Â Â 189.00Â Â Â Â -10.00Â Â Â Â -5.03%
Â
Â
American crop prices in cents US/bushel, soybean meal in $US/short ton, soy oil in cents US/pound
Â
Chicago
Soybeans Mar 2015 1007.75Â Â +17.25Â Â Â Â +1.74%
Soybeans May 2015 1011.75Â Â +17Â +1.71%
Soybeans Jul 2015Â Â 1016.75Â Â +16.75Â Â Â Â +1.68%
Soybeans Aug 2015 1016Â Â Â Â Â Â +16.75Â Â Â Â +1.68%
Soybeans Sep 2015 999.25Â Â Â Â +16.25Â Â Â Â +1.65%
Soybeans Nov 2015 986.25Â Â Â Â +15.25Â Â Â Â +1.57%
Soybean Meal Mar 2015Â Â 342.3Â Â Â Â Â +10Â +3.01%
Soybean Meal May 2015Â 335.2Â Â Â Â Â +9.2 +2.82%
Soybean Meal Jul 2015Â Â Â 332.4Â Â Â Â Â +8.8 +2.72%
Soybean Oil Mar 2015Â Â Â Â Â 32.32Â Â Â Â Â -0.08Â Â Â Â Â Â -0.25%
Soybean Oil May 2015Â Â Â Â 32.52Â Â Â Â Â -0.07Â Â Â Â Â Â -0.21%
Soybean Oil Jul 2015Â Â Â Â Â Â 32.69Â Â Â Â Â -0.07Â Â Â Â Â Â -0.21%
Corn Mar 2015 389.5Â Â Â Â Â +2.25Â Â Â Â Â +0.58%
Corn May 2015 397.75Â Â Â Â +2.5 +0.63%
Corn Jul 2015Â 405.5Â Â Â Â Â +2.75Â Â Â Â Â +0.68%
Corn Sep 2015 412.25Â Â Â Â +3Â Â Â +0.73%
Corn Dec 2015 420.5Â Â Â Â Â +3Â Â Â +0.72%
Oats Mar 2015 278Â -0.5Â -0.18%
Oats May 2015 276.25Â Â Â Â -1.75Â Â Â Â Â Â -0.63%
Oats Jul 2015Â 279.5Â Â Â Â Â +0.25Â Â Â Â Â +0.09%
Oats Sep 2015 284.5Â Â Â Â Â +0.5 +0.18%
Oats Dec 2015 286.75Â Â Â Â -0.5Â -0.17%
Wheat Mar 2015Â Â Â Â Â 534.75Â Â Â Â +1.75Â Â Â Â Â +0.33%
Wheat May 2015Â Â Â Â 531.75Â Â Â Â +2.5 +0.47%
Wheat Jul 2015Â Â Â Â Â Â 535Â +2.75Â Â Â Â Â +0.52%
Wheat Sep 2015Â Â Â Â Â 543Â +3.25Â Â Â Â Â +0.60%
Wheat Dec 2015Â Â Â Â 555.75Â Â Â Â +3.25Â Â Â Â Â +0.59%
Minneapolis
Spring Wheat Mar 2015Â Â 588.75Â Â Â Â +1.75Â Â Â Â Â +0.30%
Spring Wheat May 2015Â Â 587.5Â Â Â Â Â +2.5 +0.43%
Spring Wheat Jul 2015Â Â Â Â 589Â +2Â Â Â +0.34%
Spring Wheat Sep 2015Â Â 595.5Â Â Â Â Â +2.25Â Â Â Â Â +0.38%
Spring Wheat Dec 2015Â Â 605.5Â Â Â Â Â +2.25Â Â Â Â Â +0.37%
Kansas City
Hard Red Wheat Mar 2015Â Â Â Â Â Â 562.25Â Â Â Â -0.5Â -0.09%
Hard Red Wheat May 2015Â Â Â Â Â 562.75Â Â Â Â -1Â Â Â -0.18%
Hard Red Wheat Jul 2015 568.25Â Â Â Â -0.25Â Â Â Â Â Â -0.04%
Hard Red Wheat Sep 2015Â Â Â Â Â 578.75Â Â Â Â -0.25Â Â Â Â Â Â -0.04%
Hard Red Wheat Dec 2015Â Â Â Â Â 592.75Â Â Â Â +0.25Â Â Â Â Â +0.04%
