Crop futures were generally slightly lower on Wednesday except for Minneapolis spring wheat.
Markets are balancing themselves in preparation for Friday’s USDA planting intensions report and quarterly stocks report.
Kansas and neighbouring states were getting welcome rain today, although in some areas storms have caused property damage. The moisture will help the hard red winter wheat crop.
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Spring wheat edged higher perhaps on the idea that USDA spring wheat acreage number might be smaller than what was expected a few weeks ago.
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There have been wire service reports that North Dakota farmers are planning to shift spring wheat acres into soybeans.
Canola basis appears to be narrowing. Today’s benchmark ICE Futures Canada cash-to-May-basis was -$13.89. Last Wednesday it was -$24.13.
OUTSIDE MARKETS
Light crude oil nearby futures in New York were up $1.14 to US$49.51 per barrel.
In the afternoon, the Canadian dollar was trading around US74.99 cents, up from 74.70 cents the previous trading day. The U.S. dollar was C$1.3335.
The Toronto Stock Exchange’s S&P/TSX composite index .GSPTSE closed up 59.06 points, or 0.38 percent, at 15,657.63.
The Dow Jones Industrial Average fell 42.18 points, or 0.2 percent, to 20,659.32, the S&P 500 gained 2.56 points, or 0.11 percent, to 2,361.13 and the Nasdaq Composite added 22.41 points, or 0.38 percent, to 5,897.55.
Winnipeg ICE Futures Canada dollars per tonne
Canola May 2017 493.80 -1.90 -0.38%
Canola Jul 2017 498.60 -1.10 -0.22%
Canola Nov 2017 484.90 -1.30 -0.27%
Canola Jan 2018 490.30 -1.20 -0.24%
Canola Mar 2018 494.60 -1.10 -0.22%
Milling Wheat May 2017 234.00 +3.00 +1.30%
Milling Wheat Jul 2017 234.00 +3.00 +1.30%
Milling Wheat Oct 2017 229.00 +3.00 +1.33%
Durum Wheat May 2017 281.00 unch 0.00%
Durum Wheat Jul 2017 280.00 unch 0.00%
Durum Wheat Oct 2017 268.00 unch 0.00%
Barley May 2017 137.00 unch 0.00%
Barley Jul 2017 138.00 unch 0.00%
Barley Oct 2017 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 May 2017 969.00 -3.00 -0.31%
Soybeans Jul 2017 979.50 -2.75 -0.28%
Soybeans Aug 2017 981.50 -2.75 -0.28%
Soybeans Sep 2017 973.50 -3.50 -0.36%
Soybeans Nov 2017 968.00 -4.25 -0.44%
Soybeans Jan 2018 973.50 -4.00 -0.41%
Soybean Meal May 2017 315.80 +0.50 +0.16%
Soybean Meal Jul 2017 319.20 +0.40 +0.13%
Soybean Meal Aug 2017 319.50 +0.20 +0.06%
Soybean Oil May 2017 32.21 -0.26 -0.80%
Soybean Oil Aug 2017 32.55 -0.26 -0.79%
Corn May 2017 358.50 +0.75 +0.21%
Corn Jul 2017 366.00 +0.50 +0.14%
Corn Sep 2017 373.25 unch 0.00%
Corn Dec 2017 382.00 +0.25 +0.07%
Corn Mar 2018 391.50 +0.50 +0.13%
Oats May 2017 231.25 -3.75 -1.60%
Oats Jul 2017 222.50 -3.25 -1.44%
Oats Sep 2017 221.50 -1.50 -0.67%
Oats Dec 2017 221.25 -2.00 -0.90%
Oats Mar 2018 232.25 unch 0.00%
Wheat May 2017 425.50 +1.00 +0.24%
Wheat Jul 2017 438.50 +1.00 +0.23%
Wheat Sep 2017 453.75 +1.25 +0.28%
Wheat Dec 2017 473.75 +1.25 +0.26%
Wheat Mar 2018 488.50 +1.25 +0.26%
Minneapolis
Spring Wheat May 2017 543.25 +8.25 +1.54%
Spring Wheat Jul 2017 549.50 +7.50 +1.38%
Spring Wheat Sep 2017 555.75 +6.75 +1.23%
Spring Wheat Dec 2017 564.75 +6.50 +1.16%
Spring Wheat Mar 2018 574.25 +5.75 +1.01%
Kansas City
Hard Red Wheat May 2017 423.50 -0.50 -0.12%
Hard Red Wheat Jul 2017 436.50 -0.50 -0.11%
Hard Red Wheat Sep 2017 451.50 -0.50 -0.11%
Hard Red Wheat Dec 2017 474.25 +0.25 +0.05%
Hard Red Wheat Mar 2018 490.25 +0.50 +0.10%
Chicago livestock futures in US¢/pound (rounded to two decimal places)
Live Cattle (P) Apr 2017 121.35 +0.57 +0.47%
Live Cattle (P) Aug 2017 107.55 +0.42 +0.39%
Feeder Cattle (P) Mar 2017 133.30 +0.95 +0.72%
Feeder Cattle (P) Apr 2017 134.40 +1.45 +1.09%
Feeder Cattle (P) May 2017 133.22 +1.62 +1.23%
Lean Hogs (P) Apr 2017 65.30 +0.20 +0.31%
Lean Hogs (P) May 2017 69.48 +0.08 +0.12%
Lean Hogs (P) Jun 2017 72.75 +0.30 +0.41%
