Dry weather in Brazil lifts canola on Monday

Canola futures rose on Monday, supported by a developing pocket of dry soils in southern Brazil that threatens soybean production.

The next key newsmaker for canola will be the Statistics Canada crop production report due Dec. 5.

Continuing dry weather in the U.S hard red winter wheat belt supported wheat.

On Friday corn closed above its 50-day moving average and that was a supportive feature in corn trade today.

After the market closed, the USDA again lowered its crop rating for the U.S. winter wheat crop, which is suffering due to dry soil.

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U.S. grains: Soybeans rise on China demand hopes; corn and wheat rebound

Chicago Board of Trade soybean, corn and wheat futures rose on Monday on signs of progress towards the end of a record-long U.S. government shutdown, along with expectations of a revival of U.S. soybean exports to China, analysts said.

There has been a rapid rise in U.S. soy oil exports in the last two weeks as South American supply from last year’s small crop is used up.

Winnipeg (per tonne)

Canola Jan 13 $582.40, up $6.50 +1.13%

Canola Mar 13 $581.60, up $7.60 +1.32%

Canola May 13 $581.50, up $8.00 +1.39%

Canola Jul 13 $579.00, up $8.00 +1.40%

Milling Wheat Dec 12 $297.30, unchanged

Milling Wheat Mar 13 $305.30, unchanged

Milling Wheat May 13 $308.30, unchanged

Durum Wheat Dec 12 $312.00, unchanged

Durum Wheat Mar 13 $316.00, unchanged

Durum Wheat May 13 $320.00, unchanged

Barley Dec 12 $245.00, down $5.00 -2.00%

Barley Mar 13 $248.00, down $5.00 -1.98%

Barley May 13 $249.00, down $5.00 -1.97%

Chicago (per bushel)

Soybeans (P) Jan 13 $14.2475, up 6.0 cents +0.42%

Soybeans (P) Mar 13 $14.1225, up 9.25 +0.66%

Soybeans (P) May 13 $13.9225, up 9.5 +0.69%

Soybeans (P) Jul 13 $13.855, up 9.25 +0.67%

Corn (P) Dec 12 $7.4725, up 1.75 +0.23%

Corn (P) Mar 13 $7.5125, up 1.5 +0.20%

Corn (P) May 13 $7.4875, up 2.0 +0.27%

Oats (P) Dec 12 $3.6875, down 0.25 -0.07%

Oats (P) Mar 13 $3.8525, up 2.25 +0.59%

Oats (P) May 13 $3.875, up 2.75 +0.71%

Minneapolis (per bushel)

Spring Wheat Dec 12 $9.15, up 1.25 cents +0.14%

Spring Wheat Mar 13 $9.28, up 3.0 +0.32%

Spring Wheat May 13 $9.36, up 2.0 +0.21%

Spring Wheat Jul 13 $9.37, up 3.5 +0.37%

The Bank of Canada noon rate for the loonie was $1.0051, down from $1.0074 on Friday.

The U.S. greenback was 99.49 cents Cdn.

Nearby light crude oil in New York fell 54 cents to $87.74 per barrel.

The Toronto Stock Exchange’s S&P/TSX composite index ended down 28.19 points, or 0.23 percent, at 12,185.05.

The Dow Jones industrial average fell 42.31 points, or 0.33 percent, to close at 12,967.37.

The Standard & Poor’s 500 Index dropped 2.86 points, or 0.20 percent, to close at 1,406.29.

The Nasdaq Composite Index climbed 9.93 points, or 0.33 percent, to finish at 2,976.78.

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