Canola futures fell for second day on weaker demand from crushers and on improved weather.
The dip was only slight with July down just 60 cents at $519.50 and November down $1.70 at $502.40.
Warm dry weather in many parts of the Prairies this week is allowing seeding progress before a round of showers expected to begin this weekend that will likely slow progress again.
CLICK HERE FOR WEEKLY CROP MARKET ANALYSIS VIDEO
Saskatchewan Agriculture’s crop report said today that about 11 percent of the crop was in the ground as of May 8. That was behind the five-year average of 16 percent.
Overall, it was a day of only minor moves.
Chicago soybeans dipped on technical weakness, some farmer selling and lingering negative sentiment about Wednesday’s USDA supply and demand report.
Read Also
Entomologist tests trap crops and marigolds to repel flea beetles at an Ag in Motion
An Agriculture Canada entomologist is experimenting with trap crops and marigolds at an Ag in Motion demonstration cropplot
Today, domestic Brazilian and Argentine crop forecasters lifted their estimates of their respective soybean crops.
Corn futures dipped as the weather in the U.S. Midwest improves, allowing for more seeding and germination of the crop.
Wheat futures edged a little higher on short covering.
OUTSIDE MARKETS
In the afternoon the Canadian dollar was trading around US73.018 cents, down from 73.147 cents on Tuesday. One U.S. dollar equals C$1.37.
Light crude oil nearby futures in New York rose 50 cents to US$47.83 per barrel.
The Toronto Stock Exchange composite fell 82.66 points or 0.53 percent to 15,550.55.
Dow Jones Industrial Average fell 23.69 points, or 0.11 percent, to 20,919.4, the S&P 500 lost 5.29 points, or 0.22 percent, to 2,394.34 and the Nasdaq Composite dropped 13.86 points, or 0.23 percent, to 6,115.28.
Winnipeg ICE Futures Canada dollars per tonne
Canola May 17 519.50 -0.60 -0.12%
Canola Jul 17 519.30 -0.60 -0.12%
Canola Nov 17 502.40 -1.70 -0.34%
Canola Jan 18 507.40 -1.30 -0.26%
Canola Mar 18 511.80 -1.20 -0.23%
Milling Wheat May 17 237.00 -1.00 -0.42%
Milling Wheat Jul 17 238.00 -1.00 -0.42%
Milling Wheat Oct 17 239.00 -1.00 -0.42%
Durum Wheat May 17 273.00 unch unch
Durum Wheat Jul 17 273.00 unch unch
Durum Wheat Oct 17 267.00 unch unch
Barley May 17 137.00 unch unch
Barley Jul 17 138.00 unch unch
American crop prices in cents US/bushel, soybean meal in $US/short ton, soy oil in cents US/pound
Chicago
Soybeans May 2017 956.00 -5.75 -0.60%
Soybeans Jul 2017 966.25 -4.00 -0.41%
Soybeans Aug 2017 968.00 -3.25 -0.33%
Soybeans Sep 2017 965.25 -3.00 -0.31%
Soybeans Nov 2017 964.00 -2.75 -0.28%
Soybeans Jan 2018 971.25 -2.50 -0.26%
Soybean Meal May 2017 311.10 -2.70 -0.86%
Soybean Meal Jul 2017 314.90 -2.80 -0.88%
Soybean Meal Aug 2017 315.70 -2.70 -0.85%
Soybean Oil May 2017 32.27 unch 0.00%
Soybean Oil Jul 2017 32.49 +0.21 +0.65%
Soybean Oil Aug 2017 32.58 +0.20 +0.62%
Corn May 2017 360.50 -4.75 -1.30%
Corn Jul 2017 369.25 -4.50 -1.20%
Corn Sep 2017 377.25 -4.50 -1.18%
Corn Dec 2017 387.25 -4.25 -1.09%
Corn Mar 2018 396.75 -4.00 -1.00%
Oats May 2017 250.25 unch 0.00%
Oats Jul 2017 246.25 +2.00 +0.82%
Oats Sep 2017 231.00 +2.00 +0.87%
Oats Dec 2017 227.50 +3.00 +1.34%
Oats Mar 2018 230.50 unch 0.00%
Wheat May 2017 426.00 +2.00 +0.47%
Wheat Jul 2017 433.75 +2.00 +0.46%
Wheat Sep 2017 448.00 +1.25 +0.28%
Wheat Dec 2017 467.25 +0.25 +0.05%
Minneapolis
Spring Wheat May 2017 539.00 +5.00 +0.94%
Spring Wheat Jul 2017 548.25 +3.25 +0.60%
Spring Wheat Sep 2017 555.50 +3.50 +0.63%
Spring Wheat Dec 2017 563.75 +3.00 +0.53%
Spring Wheat Mar 2018 572.50 +2.50 +0.44%
Kansas City
Hard Red Wheat May 2017 429.75 +2.00 +0.47%
Hard Red Wheat Jul 2017 440.75 +1.50 +0.34%
Hard Red Wheat Sep 2017 457.75 +1.25 +0.27%
Hard Red Wheat Dec 2017 480.50 +1.00 +0.21%
Hard Red Wheat Mar 2018 494.50 +1.00 +0.20%
Chicago livestock futures in US¢/pound (rounded to two decimal places)
Live Cattle (P) Jun 2017 123.92 -0.28 -0.23%
Live Cattle (P) Aug 2017 119.68 -0.72 -0.60%
Live Cattle (P) Oct 2017 115.65 -0.82 -0.70%
Feeder Cattle (P) May 2017 142.38 -2.12 -1.47%
Feeder Cattle (P) Aug 2017 147.32 -1.61 -1.08%
Feeder Cattle (P) Sep 2017 147.42 -1.56 -1.05%
Lean Hogs (P) May 2017 71.53 +0.48 +0.68%
Lean Hogs (P) Jun 2017 77.05 -0.15 -0.19%
Lean Hogs (P) Jul 2017 77.08 -0.20 -0.26%
