Crop market ho hum as stock market sizzles

The Dow Jones Industrial average pushed through 20,000 for the first time ever, but the optimism did not spill over into crop markets.

Oilseeds and wheat were down but corn eked out a small gain.

Stock markets rallied, lifted by a general trend of corporate quarterly reports beating expectations and also on president Donald Trump’s talk about cutting red tape for businesses and clearing obstacles for two oil pipelines.

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Canola’s seven day winning streak came to an end. Soybeans have been dropping and today canola could no longer ignore that drag.

Also, the Canadian dollar rose.

Soybeans fell as the weather in Argentina is better this week. The trade will watch to see if forecasts for more rain in February come true and if they cause trouble.

Wheat drifted lower on lack of new supportive news.

Corn edged higher, lifted by news of a sale of more than 141,000 tonnes to an unknown destination.

U.S. ethanol production is running at near record high levels.

Worries about President Trump’s trade policies hangs over the agriculture market.

Light crude oil nearby futures in New York were down 43 cents to US$52.75 per barrel.

The Canadian dollar at noon was US76.48 cents, up from 76.03 cents the previous trading day. The U.S. dollar at noon was C$1.3075.

The Toronto Stock Exchange composite at one point hit 15,657.63, topping the old record high close, but fell back, closing at 15,643.84, up 33.15 points, or 0.21 per cent.

The Dow Jones Industrial Average rose 155.80 points, or 0.78 percent, to close at 20,068.51, the S&P 500 gained 18.30 points, or 0.80 percent, to 2,298.37 and the Nasdaq Composite added 55.38 points, or 0.99 percent, to 5,656.34.

Winnipeg ICE Futures Canada dollars per tonne

Canola Mar 2017 522.40 -1.00 -0.19%

Canola May 2017 529.40 -1.00 -0.19%

Canola Jul 2017 533.80 -0.90 -0.17%

Canola Nov 2017 506.10 -0.90 -0.18%

Canola Jan 2018 509.20 -0.50 -0.10%

Milling Wheat Mar 2017 236.00 -2.00 -0.84%

Milling Wheat May 2017 239.00 -3.00 -1.24%

Milling Wheat Jul 2017 240.00 -3.00 -1.23%

Durum Wheat Mar 2017 306.00 unch 0.00%

Durum Wheat May 2017 309.00 unch 0.00%

Durum Wheat Jul 2017 314.00 unch 0.00%

Barley Mar 2017 139.00 unch 0.00%

Barley May 2017 141.00 unch 0.00%

Barley Jul 2017 142.00 unch 0.00%

American crop prices in cents US/bushel, soybean meal in $US/short ton, soy oil in cents US/pound

Chicago

Soybeans Mar 2017 1055.25 -3.25 -0.31%

Soybeans May 2017 1064.50 -3.50 -0.33%

Soybeans Jul 2017 1071.00 -2.75 -0.26%

Soybeans Aug 2017 1067.75 -1.50 -0.14%

Soybeans Sep 2017 1045.75 -1.50 -0.14%

Soybeans Nov 2017 1025.50 -0.50 -0.05%

Soybean Meal Mar 2017 343.30 +0.30 +0.09%

Soybean Meal May 2017 346.30 +0.20 +0.06%

Soybean Meal Jul 2017 348.40 +0.40 +0.11%

Soybean Oil Mar 2017 34.87 -0.41 -1.16%

Soybean Oil May 2017 35.12 -0.41 -1.15%

Soybean Oil Jul 2017 35.36 -0.39 -1.09%

Corn Mar 2017 366.25 +3.00 +0.83%

Corn May 2017 373.50 +3.00 +0.81%

Corn Jul 2017 380.75 +3.25 +0.86%

Corn Sep 2017 387.00 +3.00 +0.78%

Corn Dec 2017 393.75 +2.75 +0.70%

Oats Mar 2017 260.00 +3.25 +1.27%

Oats May 2017 249.25 +2.00 +0.81%

Oats Jul 2017 245.50 +2.00 +0.82%

Oats Sep 2017 240.75 +2.25 +0.94%

Oats Dec 2017 234.25 +2.25 +0.97%

Wheat Mar 2017 424.50 -2.25 -0.53%

Wheat May 2017 438.50 -2.50 -0.57%

Wheat Jul 2017 453.50 -2.50 -0.55%

Wheat Sep 2017 468.50 -2.50 -0.53%

Wheat Dec 2017 486.00 -2.75 -0.56%

Minneapolis

Spring Wheat Mar 2017 557.50 -3.25 -0.58%

Spring Wheat May 2017 553.25 -3.50 -0.63%

Spring Wheat Jul 2017 553.50 -2.25 -0.40%

Spring Wheat Sep 2017 555.25 -1.50 -0.27%

Spring Wheat Dec 2017 561.50 -1.75 -0.31%

Kansas City

Hard Red Wheat Mar 2017 437.75 -4.00 -0.91%

Hard Red Wheat May 2017 449.75 -4.00 -0.88%

Hard Red Wheat Jul 2017 461.50 -4.00 -0.86%

Hard Red Wheat Sep 2017 475.75 -4.25 -0.89%

Hard Red Wheat Dec 2017 496.25 -3.75 -0.75%

Chicago livestock futures in US¢/pound (rounded to two decimal places)

Live Cattle (P) Feb 2017 119.88 +0.20 +0.17%

Live Cattle (P) Apr 2017 118.68 +0.28 +0.24%

Live Cattle (P) Jun 2017 108.10 -0.05 -0.05%

Feeder Cattle (P) Jan 2017 132.38 -0.05 -0.04%

Feeder Cattle (P) Mar 2017 129.85 -0.33 -0.25%

Feeder Cattle (P) Apr 2017 129.38 -0.22 -0.17%

Lean Hogs (P) Feb 2017 67.52 +2.30 +3.53%

Lean Hogs (P) Apr 2017 70.15 +2.53 +3.74%

Lean Hogs (P) May 2017 74.70 +1.65 +2.26%

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