Crop prices halted their slide on Wednesday and canola closed slightly higher.
Soybeans gained back most of the losses it sustained Tuesday following the bearish USDA report. Corn closed unchanged.
Spring wheat edged slightly higher.
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The gains were mostly technical, although there was news of new U.S. soybean export sales.
Also a general rally in commodities as crude oil rose helped to lift crop prices.
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Parts of the Canadian Prairies and the U.S. northern plains got rain today and much cooler temperatures.
WEATHER
The unsettled weather is expected to continue Thursday and Friday with the largest accumulations in Canada in southern Manitoba and the southeast corner of Saskatchewan.
Larger amounts were expected in Montana and North Dakota.
The rain will be welcome to dampen down fire threat and to raise moisture level in canola seed.
CHINA ETHANOL
China state media reported Beijing plans to roll out the use of a E10 gasoline – containing 10 percent ethanol – across the world’s largest car market by 2020.
This mark a major step toward the country’s goal of reducing its 200 million tonnes surplus of corn.
OUTSIDE MARKETS
Light crude oil nearby futures in New York were up $1.07 at US$49.30 per barrel.
In the afternoon, the Canadian dollar was trading around US82.10 cents, up from 82.04 cents the previous trading day. The U.S. dollar was C$1.2180.
Losses in metals more than offset gains in the energy sector of the Toronto Stock Exchange.
The S&P/TSX composite index fell 16.6 points, or 0.11 percent, to end at 15,126.81.
Wall street hit new record highs in the Dow, S&P and Nasdaq.
The Dow Jones Industrial Average rose rose 39.32 points, or 0.18 percent, to 22,158.18 The S&P 500 edged upgained 1.89 points, or 0.08 percent, to 2,498.37, and the Nada Composite added 5.91 points, or 0.09 percent, to 6,460.19.
Winnipeg ICE Futures Canada dollars per tonne
Canola Nov 17 487.10s +2.70 +0.56%
Canola Jan 18 493.80s +2.50 +0.51%
Canola Mar 18 500.30s +2.30 +0.46%
Canola May 18 504.10s +2.30 +0.46%
Canola Jul 18 505.60s +2.30 +0.46%
Milling Wheat Oct 17 232.00s +2.00 +0.87%
Milling Wheat Dec 17 235.00s +2.00 +0.86%
Milling Wheat Mar 18 240.00s -1.00 -0.41%
Durum Wheat Oct 17 281.00s unch unch
Durum Wheat Dec 17 285.00s unch unch
Durum Wheat Mar 18 289.00s unch unch
Barley Oct 17 145.00s unch unch
Barley Dec 17 148.00s unch unch
Barley Mar 18 151.00s unch unch
American crop prices in cents US/bushel, soybean meal in $US/short ton, soy oil in cents US/pound. Prices are displayed with fractions (2/8, 4/8, and 6/8) instead of decimals. -2 equals .25, -4 equals .50, -6 equals .75. The “s” means it is the settlement.
Chicago
Soybeans Sep 17 953-0s +8-6 +0.93%
Soybeans Nov 17 960-4s +10-0 +1.05%
Soybeans Jan 18 970-6s +10-0 +1.04%
Soybeans Mar 18 979-2s +9-6 +1.01%
Soybeans May 18 987-6s +9-2 +0.95%
Soybean Meal Sep 17 300.3s +5.2 +1.76%
Soybean Meal Oct 17 302.1s +5.4 +1.82%
Soybean Meal Dec 17 305.4s +5.4 +1.80%
Soybean Oil Sep 17 34.72s -0.12 -0.34%
Soybean Oil Oct 17 34.83s -0.10 -0.29%
Soybean Oil Dec 17 35.09s -0.10 -0.28%
Corn Sep 17 338-4s -1-4 -0.44%
Corn Dec 17 351-4s unch unch
Corn Mar 18 363-6s unch unch
Corn May 18 372-0s unch unch
Corn Jul 18 378-2s -0-2 -0.07%
Oats Sep 17 239-0s +3-4 +1.49%
Oats Dec 17 237-6s +3-4 +1.49%
Oats Mar 18 245-2s +3-2 +1.34%
Oats May 18 244-2s +2-6 +1.14%
Oats Jul 18 245-4s +1-2 +0.51%
Wheat Sep 17 420-6s +1-2 +0.30%
Wheat Dec 17 443-2s +1-2 +0.28%
Wheat Mar 18 462-6s +0-6 +0.16%
Wheat May 18 476-4s +0-4 +0.11%
Wheat Jul 18 488-6s -0-2 -0.05%
Minneapolis
Spring Wheat Sep 17 626-2s unch unch
Spring Wheat Dec 17 643-4s +1-6 +0.27%
Spring Wheat Mar 18 655-2s +2-0 +0.31%
Spring Wheat May 18 656-0s +2-6 +0.42%
Spring Wheat Jul 18 655-4s +6-0 +0.92%
Kansas City
Hard Red Wheat Sep 17 418-2s +2-2 +0.54%
Hard Red Wheat Dec 17 444-2s +2-4 +0.57%
Hard Red Wheat Mar 18 461-6s +2-4 +0.54%
Hard Red Wheat May 18 475-2s +2-6 +0.58%
Hard Red Wheat Jul 18 491-0s +2-2 +0.46%
Chicago livestock futures in US¢/pound, Pit trade
Live Cattle Oct 17 107.550s +1.275 +1.20%
Live Cattle Dec 17 112.850s +1.300 +1.17%
Live Cattle Feb 18 116.150s +0.900 +0.78%
Feeder Cattle Sep 17 148.600s +0.625 +0.42%
Feeder Cattle Oct 17 149.625s +0.475 +0.32%
Feeder Cattle Nov 17 149.875s +0.625 +0.42%
Lean Hogs Oct 17 59.575s +0.125 +0.21%
Lean Hogs Dec 17 56.775s -0.325 -0.57%
Lean Hogs Feb 18 62.075s -0.650 -1.04%
