A weaker loonie and firm soybean prices lifted canola futures on Monday.
The continuing cold weather in Europe and the Black Sea region supported wheat.
More analysts downgraded their forecasts for South American soybean and corn production due to weeks of dry weather.
USDA will come out with its monthly production forecasts for world crops on Thursday.
Analysts speculated that if South American crops are smaller, China another soybean importers might have to buy more from the United States, leading to smaller U.S. carry over stocks.
Read Also
U.S. grains: Corn, soybeans fall as rain expected to help U.S. crops
Chicago corn and soybean futures fell on Monday on forecasts for crop-friendly rain in U.S. grain belts this week.
• The Canadian dollar pulled back from a three month high set on Friday. Investors were skittish about Greek debt after talks with European policymakers to avoid a default missed another deadline. Money moved into the “safe haven” U.S. dollar.
Greek politicians must agree to a new painful terms to get access to $170 billion bailout that will prevent it from defaulting on bon repayments due in March.
A disorderly default could create shockwaves that stagger other debt-ridden countries in the bloc.
Winnipeg (per tonne)
Canola Mar 12 $529.60, up $4.10 (+0.78%)
Canola May 12 $533.10, up $3.70 (+0.70%)
Canola Jul 12 $536.50, up $3.70 (+0.69%)
Canola Nov 12 $515.50, up $2.60 (+0.51%)
The previous trading day’s best basis was $7.27 per tonne off the March contract, said the ICE Futures Canada exchange in Winnipeg.
The 14-day relative strength index was 58.
Western Barley Mar 12 $212.00, unchanged
Western Barley May 12 $216.00, unchanged
Milling Wheat Oct 12 $264.00, down $0.50 (-0.19%)
Milling Wheat Dec 12 $268.50, down $0.50 (-0.19%)
Milling Wheat Mar 13 275.50, down $0.50 (-0.18%)
Durum Wheat Oct 12 $270.00, unchanged
Durum Wheat Dec 12 $274.50, unchanged
Durum Wheat Mar 13 $279.50, unchanged
Barley Oct 12 $180.00, down $0.50 (-0.28%)
Barley Dec 12 $184.00, unchanged
Barley Mar 13 $185.50, unchanged
Chicago (per bushel)
Soybeans Mar 12 $12.33, up 0.5 cents (+0.04%)
Soybeans May 12 $12.42, up 1.25 (+0.10%)
Soybeans Nov 12 $12.39, up 1.75 (+0.14%)
Corn Mar 12 $6.4425, down 0.25 (-0.04%)
Corn May 12 $6.5125, up 0.5 (+0.08%)
Corn Dec 12 $5.8125, down 0.25 (-0.04%)
Oats Mar 12 $3.27, up 12.75 (+4.06%)
Oats May 12 $3.2075, up 12.75 (+4.14%)
Oats Dec 12 $321, up 5.0 (+1.58%)
Minneapolis (per bushel)
Spring Wheat Mar 12 $8.41, up 2.5 cents (+0.30%)
Spring Wheat May 12 $8.2675, up 0.5 (+0.06%)
Spring Wheat Dec 12 $7.955, up 1.25 (+0.16%)
Nearby light crude oil in New York fell 93 cents to settle at $96.91 a barrel.
The Canadian dollar at noon was $1.0046 US, down from $1.0055 the previous trading day. The U.S. dollar at noon was 99.54 cents Cdn.
The Toronto Stock Exchange composite finished the day down 17.43 points, or 0.14 percent, at 12,559.85.
The Dow Jones industrial average fell 17.10 points, or 0.13 percent, at 12,845.13. The Standard & Poor’s 500 Index was down 0.57 points, or 0.04 percent, at 1,344.33. The Nasdaq Composite Index dropped 3.67 points, or 0.13 percent, at 2,901.99.
