Canola nearby futures rose slightly on Monday, supported by a weaker loonie and stronger soybean futures.
January canola closed at $500.90 per tonne, up $1.40, but more distant contract fell.
November 2012 canola closed at $485.40, down $1.80.
Soybeans rallied from a 14-month low on short covering. Dry weather in Argentina also supported soybeans.
Gains in U.S. markets were limited by a stronger U.S. dollar and worries that Europe’s plan to resolve the euro zone debt crisis might not work.
European countries selling bond issues today had to pay higher interest rates than they wanted to attract interest.
• The U.S. Midwest and Plains are expected to get rain and snow in the next couple of weeks, helping to make up for a dry autumn.
Winnipeg (per tonne)
Canola Jan 12 $500.90, up $1.40 (+0.28%)
Canola Mar 12 $501.40, up $0.80 (+0.16%)
Canola May 12 $504.20, down $0.10 (-0.02%)
Canola Jul 12 $507.00, down $0.40 (-0.08%)
The previous day’s best basis was $5.42 under the January contract, said ICE Canada Winnipeg.
The January contract’s 14-day Relative Strength Index was 38.
Western Barley Dec 11 $217.00 unchanged
Chicago (per bushel)
Soybeans Jan 12 $11.12, up 5.0 cents (+0.45%)
Soybeans Mar 12 $11.2225, up 5.75 (+0.52%)
Soybeans May 12 $11.3275, up 5.75 (+0.51%)
Corn Dec 11 $5.855, unchanged
Corn Mar 12 $5.94, down 0.25 (-0.04%)
Oats Dec 11 $3.00, up 5.0 (+1.69%)
Oats Mar 12 $3.0675, up 4.75 (+1.57%)
Minneapolis (per bushel)
Spring Wheat Dec 11 $8.4475, up 1.75 cents (+0.21%)
Spring Wheat Mar 12 $8.2575, down 1.5 (-0.18%)
Spring Wheat May 12 $8.08, down 1.0 (-0.12%)
Nearby light crude oil in New York fell $1.64 to settle at $97.77 a barrel.
The Canadian dollar at noon was 97.32 cents US, down from 98.03 the previous trading day. The U.S. dollar at noon was $1.0275 Cdn.
The Toronto Stock Exchange composite closed down 126.86 82.96 points, or 4.05 percent, at 11,907.89.
The Standard and Poor’s 550 was down 18.62 points, or 1.48 percent, at 1,236.57.
