Improving South American weather pushes oilseeds down

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Published: October 15, 2012

Crop futures fell on Monday, pressured by improving crop production weather in South America and the U.S. central plains.

Weak export demand for U.S. corn also weighed on the market although weekly soybean sales were strong.

The U.S. harvest is wrapping up.

Rain reached areas of Brazil that had remained dry, setting up prospects for a record large crop there. Sun is expected to return to Argentina after a wet period, allowing seeding to resume.

Rain also fell in Kansas on the weekend, improving the outlook for the winter wheat crop that is being seeded.

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Improving South American weather pushes oilseeds down

Prairie Wheat Weekly Spring wheat prices decline

Western Canadian spring wheat prices were mostly lower, while those for durum were relatively steady during the week ended Aug. 14, 2025.

November canola broke below the psychologically important $600 market and closed at $596.70, down $10 or 1.65 percent.

The canola futures price quote on the Producer.com home page is working again. We apologize for its absence last week.

While canola futures fell, the drop was limited by the smaller than expected canola crop and reluctant farmer selling.

 

Winnipeg (per tonne)

Canola Nov 12 $596.70, down $10.00       -1.65%

Canola Jan 13 $595.70, down $9.90       -1.63%

Canola Mar 13 $593.50, down $9.30       -1.54%

Canola May 13 $588.10, down $7.70       -1.29%

Milling Wheat Dec 12 $297.40, unchanged

Milling Wheat Mar 13 $306.90, unchanged

Milling Wheat May 13 $309.90, unchanged

Durum Wheat Dec 12 $312.40, unchanged

Durum Wheat Mar 13 $319.00, unchanged

Durum Wheat May 13 $323.00, unchanged

Barley Dec 12 $250.00, unchanged

Barley Mar 13 $253.00, unchanged

Barley May 13 $254.00, unchanged

 

Chicago (per bushel)

Soybeans (P) Nov 12 $14.925, down 30.0       -1.97%

Soybeans (P) Jan 13 $14.9175, down 30.25       -1.99%

Soybeans (P) Mar 13 $14.66, down 26.0       -1.74%

Soybeans (P) May 13 $14.2825, down 21.5       -1.48%

Corn (P) Dec 12 $7.3725, down 15.5       -2.06%

Corn (P) Mar 13 $7.3725, down 15.5       -2.06%

Corn (P) May 13 $7.3175, down 15.5       -2.07%

Oats (P) Dec 12 $3.88, down 4.0       -1.02%

Oats (P) Mar 13 $3.91, down 4.0       -1.01%

Oats (P) May 13 $3.9025, down 3.25       -0.83%

 

Minneapolis (per bushel)

Spring Wheat Dec 12 $9.21, down 3.25       -0.35%

Spring Wheat Mar 13 $9.275, down 3.25       -0.35%

Spring Wheat May 13 $9.34, down 1.0       -0.11%

Spring Wheat Jul 13 $9.325, down 1.75       -0.19%

 

The Bank of Canada noon rate for the loonie was $1.0221 US, up from $1.0205 on Friday.

The U.S. dollar was $97.84.

Nearby crude oil in New York fell one cent to close at 91.85 per barrel.

The Toronto Stock Exchange’s S&P/TSX composite index rose 27.92 points, or 0.23 percent, to close at 12,229.96.

The Dow Jones industrial average rose 95.38 points, or 0.72 percent, to 13,424.23 at the close.

The Standard & Poor’s 500 Index climbed 11.54 points, or 0.81 percent, to close at 1,440.13.

The Nasdaq Composite Index rose 20.07 points, or 0.66 percent, to close at 3,064.18.

About the author

D'Arce McMillan

Markets editor, Saskatoon newsroom

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