Canola futures closed mostly stronger on Monday in a late rally as did wheat futures but U.S. corn and soybean futures dropped.
Worries about the Greek debt situation caused traders to pile into the U.S. dollar, lifting its value.
That weighed on U.S. commodity markets, but the weaker loonie helped to support canola futures that were early under pressure from weakness in soy oil.
Large parts of Saskatchewan and Alberta remained dry over the weekend, but parts of Manitoba and the extreme south of Alberta had significant rain.
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Corn and soybeans were pressured by lighter-than-expected U.S. rainfall, easing fears about soggy Midwest crops.
Traders feel that the worst of the rains in the Midwest may now be over, said Jim Gerlach, president of A/C Trading in Indiana.
There is rain in the forecast for Missouri, Illinois and Indiana but today fields were starting drying out after a weekend of clear skies.
Commodities were also generally pressured by uncertainty over China, where the stock market dropped sharply last week, causing Beijing to take several emergency actions over the weekend of lessen volatility.
Today’s weekly U.S. crop report was expected to show corn and soy ratings declined for the fourth straight week because of the excess moisture. However, the corn rating actually improved slightly and the soybean rating stayed the same.
Today was the last day for open outcry futures trading in Chicago. All trade now migrates to the exchange’s electronic platform.
Light crude oil nearby futures in New York were down $4.40 to US$52.53 per barrel.
The Canadian dollar at noon was US79.20 cents, down from 79.55 cents the previous trading day. The U.S. dollar at noon was C$1.2626.
Winnipeg ICE Futures Canada dollars per tonne
Canola Jul 2015 542.50 +4.10 +0.76%
Canola Nov 2015 534.30 +0.80 +0.15%
Canola Jan 2016 534.70 -0.70 -0.13%
Canola Mar 2016 534.10 +1.10 +0.21%
Canola May 2016 530.40 +1.10 +0.21%
Milling Wheat Jul 2015 252.00 +2.00 +0.80%
Milling Wheat Oct 2015 250.00 +2.00 +0.81%
Milling Wheat Dec 2015 250.00 +2.00 +0.81%
Durum Wheat Jul 2015 298.00 unch 0.00%
Durum Wheat Oct 2015 298.00 unch 0.00%
Durum Wheat Dec 2015 303.00 unch 0.00%
Barley Jul 2015 212.40 +3.00 +1.43%
Barley Oct 2015 207.40 +3.00 +1.47%
American crop prices in cents US/bushel, soybean meal in $US/short ton, soy oil in cents US/pound
Chicago
Soybeans Jul 2015 1033.75 -11.5 -1.10%
Soybeans Aug 2015 1022.25 -16 -1.54%
Soybeans Sep 2015 1015.5 -16 -1.55%
Soybeans Nov 2015 1014.75 -15.5 -1.50%
Soybeans Jan 2016 1021 -14.75 -1.42%
Soybeans Mar 2016 1018 -10.75 -1.04%
Soybean Meal Jul 2015 354.4 -3 -0.84%
Soybean Meal Aug 2015 346.3 -3.8 -1.09%
Soybean Meal Sep 2015 342.4 -3.7 -1.07%
Soybean Oil Jul 2015 32.64 -0.72 -2.16%
Soybean Oil Aug 2015 32.74 -0.74 -2.21%
Soybean Oil Sep 2015 32.8 -0.76 -2.26%
Corn Jul 2015 418.5 -1.25 -0.30%
Corn Sep 2015 426.5 -2 -0.47%
Corn Dec 2015 435 -2.25 -0.51%
Corn Mar 2016 444.5 -2 -0.45%
Corn May 2016 450.25 -1.75 -0.39%
Oats Jul 2015 252.5 +2.5 +1.00%
Oats Sep 2015 261.75 +1.75 +0.67%
Oats Dec 2015 274.25 -0.25 -0.09%
Oats Mar 2016 283 +0.25 +0.09%
Oats May 2016 283 +0.25 +0.09%
Wheat Jul 2015 588.5 +2.75 +0.47%
Wheat Sep 2015 595.5 +5 +0.85%
Wheat Dec 2015 603.75 +4.5 +0.75%
Wheat Mar 2016 612 +4 +0.66%
Wheat May 2016 616.75 +3.25 +0.53%
Minneapolis
Spring Wheat Jul 2015 618.75 +12.5 +2.06%
Spring Wheat Dec 2015 646 +6.25 +0.98%
Spring Wheat Mar 2016 656.75 +5.75 +0.88%
Spring Wheat May 2016 663 +4.5 +0.68%
Kansas City
Hard Red Wheat Jul 2015 576.25 +0.25 +0.04%
Hard Red Wheat Sep 2015 592.5 +0.75 +0.13%
Hard Red Wheat Dec 2015 613 +1.75 +0.29%
Hard Red Wheat Mar 2016 625.75 +2.25 +0.36%
Hard Red Wheat May 2016 633.75 +2.5 +0.40%
