Lack of fresh bullish news continued to erode canola and soybean prices on Monday.
Rain is expected this week in dry Argentina and southern Brazil, lessening worries there. Wet areas of central Brazil should see drier weather to help speed harvest.
Also weekend storms dumped snow on dry eastern South Dakota, amounting to an inch or more of water, and northern Nebraska in amounts of 0.5 to 0.75 of an inch.
The USDA supply and demand report Friday was not terribly bearish, with only a small increase in the forecast for global year end stocks. However, it was not bullish and a bull market must be constantly fed.
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The loonie fell on lingering concern about last week’s poor January job creation number and slow new housing starts.
March canola closed at $629.50 per tonne, down $7.40. November closed at 549.90, down $5.80.
Winnipeg ICE Futures (per tonne)
Canola Mar 13 $629.50, down $7.40 -1.16%
Canola May 13 $615.20, down $5.50 -0.89%
Canola Jul 13 $600.00, down $5.90 -0.97%
Canola Nov 13 $549.90, down $5.80 -1.04%
Milling Wheat Mar 13 $291.00, unchanged
Milling Wheat May 13 $294.00, unchanged
Milling Wheat Jul 13 $296.00, unchanged
Milling Wheat Oct 13 $296.00, unchanged
Durum Wheat Mar 13 $309.20, unchanged
Durum Wheat May 13 $313.20, unchanged
Durum Wheat Jul 13 $316.20, unchanged
Durum Wheat Oct 13 $301.50, unchanged
Barley Mar 13 $241.50, unchanged
Barley May 13 $242.50, unchanged
Barley Jul 13 $243.00, unchanged
Barley Oct 13 $243.00, unchanged
Chicago (per bushel)
Soybeans (P) Mar 13 $14.315, down 21.0 -1.45%
Soybeans (P) May 13 $14.1725, down 19.5 -1.36%
Soybeans (P) Jul 13 $14.07, down 18.5 -1.30%
Soybeans (P) Aug 13 $13.6925, down 19.5 -1.40%
Soybeans (P) Sep 13 $13.0975, down 19.75 -1.49%
Soybeans (P) Nov 13 $12.685, down 13.5 -1.05%
Corn (P) Mar 13 $7.0225, down 6.75 -0.95%
Corn (P) May 13 $7.015, down 7.25 -1.02%
Corn (P) Jul 13 $6.92, down 7.0 -1.00%
Corn (P) Sep 13 $5.775, down 7.25 -1.24%
Corn (P) Dec 13 $5.5875, down 4.5 -0.80%
Oats (P) Mar 13 $3.81, down 4.75 -1.23%
Oats (P) May 13 $3.725, down 3.75 -1.00%
Oats (P) Jul 13 $3.695, down 4.75 -1.27%
Oats (P) Sep 13 $3.6875, down 4.75 -1.27%
Oats (P) Dec 13 $3.655, down 4.5 -1.22%
Minneapolis (per bushel)
Spring Wheat Mar 13 $8.26, down 10.25 -1.23%
Spring Wheat May 13 $8.3925, down 10.0 -1.18%
Spring Wheat Jul 13 $8.4925, down 9.25 -1.08%
Spring Wheat Sep 13 $8.52, down 8.5 -0.99%
Spring Wheat Dec 13 $8.575, down 8.5 -0.98%
The Bank of Canada noon rate for the loonie was 99.35 cents U.S. down almost a half cent from 99.80 on Friday.
The U.S. buck was $1.0065.
Nearby crude oil in New York jumped $1.31 to $97.03 per barrel.
The Toronto Stock Exchange’s S&P/TSX composite index closed down 53.08 points, or 0.41 percent, at 12,748.15.
The Dow Jones industrial average was down 21.81 points, or 0.16 percent, at 13,971.16.
The Standard & Poor’s 500 Index was down 0.92 points, or 0.06 percent, at 1,517.01.
The Nasdaq Composite Index was down 1.87 points, or 0.06 percent, at 3,192.00.
