CHICAGO, Dec 31 (Reuters) – U.S. soybean futures were down nearly one percent on Thursday the last trading day of the year, as traders eyed forecasts for much-needed rains in Brazil, while corn and soybeans were narrowly mixed in light year-end trading.
All three markets posted annual declines for 2015, and were closed on Friday for the New Year’s Day holiday.
ICE Canada canola slipped on Thursday, pressured by commercial hedges and weaker U.S. soy prices, but finished with an overall gain in 2015.
Canola’s 5.4 percent gain for the year, compared with declines in U.S. soybean, corn and wheat futures, came largely because the weaker Canadian dollar made the country’s exports more attractive.
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Smaller agriculture markets such as pulses, cocoa, cotton and sugar were the biggest winners in the 2015 commodities rout.
CBOT wheat was poised to fall 20.3 percent, its second-largest yearly drop since 2008.
“The market is focused on the ample supply of wheat globally,” said Hannah Johnson, chief analyst at Profarmer Australia, in a note to clients.
Corn and soybeans were each set to fall for a third straight year, with corn down almost 10 percent for 2015 and soybeans down 14.6 percent.
For the holiday-shortened week, the nearby January canola contract lost 0.8 percent. Canola rose 2.2 percent for the month and 0.1 percent in the fourth quarter.
“Going into the weekend with an improved South American weather forecast, that has put some pressure on the bean complex, which is acting as an anchor on the corn and wheat,” said Jim Sullivan, an analyst with the Leese Trading Group in Chicago.
Weekly export sales data for soybeans added pressure. The U.S. Department of Agriculture reported sales of U.S. soybeans in the week to Dec. 24 at 478,800 tonnes, below a range of trade estimates and a marketing year low.
Traders continued to monitor high water on the mid-Mississippi River, a key artery for moving Corn Belt grain to export terminals at the U.S. Gulf.
The flooding stalled barge movement as portions of the river are closed to traffic.
Forecasts called for drier weather in the Midwest, but the National Weather Service warned that floodwaters will move downstream over the next couple of weeks, raising flood risks along the lower Mississippi.
Canada’s main stock index fell on Thursday despite a rally in crude oil prices, leaving the market down 11 percent in 2015 and closing out its worst year since the global financial crisis of 2008.
ICE Futures Canada C$ per tonne
Canola Jan 2016Â Â Â 476.50Â Â Â -5.00Â Â Â -1.04%
Canola Mar 2016Â Â Â 486.50Â Â Â -5.00Â Â Â -1.02%
Canola May 2016Â Â Â 490.60Â Â Â -5.10Â Â Â -1.03%
Canola Jul 2016Â Â Â 492.00Â Â Â -5.00Â Â Â -1.01%
Canola Nov 2016Â Â Â 488.40Â Â Â -3.50Â Â Â -0.71%
Milling Wheat Mar 2016Â Â Â 237.00Â Â Â +1.00Â Â Â +0.42%
Milling Wheat May 2016Â Â Â 241.00Â Â Â +1.00Â Â Â +0.42%
Milling Wheat Jul 2016Â Â Â 245.00Â Â Â +1.00Â Â Â +0.41%
Durum Wheat Mar 2016   318.00   unch   0.00%
Durum Wheat May 2016   326.00   unch   0.00%
Durum Wheat Jul 2016   326.00   unch   0.00%
Barley Mar 2016   184.00   unch   0.00%
Barley May 2016   190.00   unch   0.00%
Barley Jul 2016   192.00   unch   0.00%
American crop prices in UScents/bushel, soybean meal in US$/short ton, soy oil in UScents/pound
Chicago
Soybeans Jan 2016Â Â Â 871.25Â Â Â -4.25Â Â Â -0.49%
Soybeans Mar 2016Â Â Â 864.25Â Â Â -6Â Â Â -0.69%
Soybeans May 2016Â Â Â 869.5Â Â Â -6.25Â Â Â -0.71%
Soybeans Jul 2016Â Â Â 876.75Â Â Â -6.25Â Â Â -0.71%
Soybeans Aug 2016Â Â Â 879.5Â Â Â -6.5Â Â Â -0.73%
Soybeans Sep 2016Â Â Â 879.5Â Â Â -6Â Â Â -0.68%
Soybean Meal Jan 2016Â Â Â 264.3Â Â Â -1.5Â Â Â -0.56%
Soybean Meal Mar 2016Â Â Â 265.5Â Â Â -2.1Â Â Â -0.78%
Soybean Meal May 2016Â Â Â 269Â Â Â -2.1Â Â Â -0.77%
Soybean Oil Jan 2016Â Â Â 30.55Â Â Â -0.29Â Â Â -0.94%
Soybean Oil Mar 2016Â Â Â 30.75Â Â Â -0.32Â Â Â -1.03%
Soybean Oil May 2016Â Â Â 30.96Â Â Â -0.32Â Â Â -1.02%
Corn Mar 2016Â Â Â 358.75Â Â Â -0.25Â Â Â -0.07%
Corn May 2016Â Â Â 364.5Â Â Â -0.75Â Â Â -0.21%
Corn Jul 2016Â Â Â 370.5Â Â Â -1Â Â Â -0.27%
Corn Sep 2016Â Â Â 375.25Â Â Â -0.5Â Â Â -0.13%
Corn Dec 2016Â Â Â 383Â Â Â -0.25Â Â Â -0.07%
Oats Mar 2016Â Â Â 217.25Â Â Â -1Â Â Â -0.46%
Oats May 2016Â Â Â 219.5Â Â Â -1Â Â Â -0.45%
Oats Jul 2016Â Â Â 223.5Â Â Â -0.75Â Â Â -0.33%
Oats Sep 2016   230.25   unch   0.00%
Oats Dec 2016Â Â Â 228Â Â Â -1.25Â Â Â -0.55%
Wheat Mar 2016Â Â Â 470Â Â Â +0.25Â Â Â +0.05%
Wheat May 2016   476.5   unch   0.00%
Wheat Jul 2016Â Â Â 483.25Â Â Â -0.25Â Â Â -0.05%
Wheat Sep 2016Â Â Â 492.25Â Â Â -0.75Â Â Â -0.15%
Wheat Dec 2016Â Â Â 507.5Â Â Â +0.5Â Â Â +0.10%
Spring Wheat Mar 2016Â Â Â 493.25Â Â Â +1Â Â Â +0.20%
Spring Wheat May 2016Â Â Â 502Â Â Â +1Â Â Â +0.20%
Spring Wheat Jul 2016Â Â Â 512.5Â Â Â +1.25Â Â Â +0.24%
Spring Wheat Sep 2016Â Â Â 524.25Â Â Â +1.25Â Â Â +0.24%
Spring Wheat Dec 2016Â Â Â 540.5Â Â Â +0.5Â Â Â +0.09%
Hard Red Wheat Mar 2016Â Â Â 468.5Â Â Â +3Â Â Â +0.64%
Hard Red Wheat May 2016Â Â Â 478.75Â Â Â +3.25Â Â Â +0.68%
Hard Red Wheat Jul 2016Â Â Â 488.75Â Â Â +2.75Â Â Â +0.57%
Hard Red Wheat Sep 2016Â Â Â 503Â Â Â +2.75Â Â Â +0.55%
Hard Red Wheat Dec 2016Â Â Â 523.75Â Â Â +3.5Â Â Â +0.67%