Canola, soybeans and wheat edged lower on Friday but corn rose a little.
The weakness in the soy complex, a stronger Canadian dollar and good seeding weather in Western Canada pressured canola lower.
On the day, July fell $3.60 to $487.50 per tonne and November fell $3.10 to $485.80.
On the week, July fell 50 cents per tonne or 0.1 percent But November gained $3.60 per tonne or 0.7 percent.
The Canadian Oilseed Processors Association said members crushed 152,082 tonnes of canola in the week ending May 21, an increase of three percent over the week before.
That represented a capacity use of 85.3 percent.
The crush pace has improved recently allowing the year to date number to start to catch up to last year’s pace.
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To date, COPA members have crushed 5.568 million tonnes compared to 5.605 million at the same point last year.
On Friday soybeans gave up a little ground on profit taking after the strong gains on Thursday when prices rose on worries about tight U.S. stocks.
China’s demand for soybeans appears to be picking up after a lull in March and early April. Crush margins in China are now the best in six months.
July soybeans on the week rose 3.4 percent.
While demand for soybean and soy meal remain strong keeping the price trend up, soybean oil prices are falling. The oil has fallen each week for five weeks, losing about 7.2 percent.
Corn edged higher on bargain buying after recent declines and on positioning of spreads between it and soybeans.
All U.S. wheat futures markets fell on the idea that global wheat supplies will be ample. Also, planting progress in North Dakota and Western Canada weighed on spring wheat while rain in the southern Plains weighed on hard red wheat prices.
On the week, nearby Minneapolis wheat futures fell 1.9 percent while Kansas hard red winter wheat fell three percent and Chicago soft wheat fell 3.4 percent.
Winnipeg ICE Futures Canada (Canadian dollars per tonne)
Canola Jul 2014Â Â Â Â Â Â 487.50Â Â Â Â Â Â -3.60Â Â Â Â Â Â -0.73%
Canola Nov 2014Â Â Â Â Â Â 485.80Â Â Â Â Â Â -3.10Â Â Â Â Â Â -0.63%
Canola Jan 2015Â Â Â Â Â Â 490.40Â Â Â Â Â Â -2.80Â Â Â Â Â Â -0.57%
Canola Mar 2015Â Â Â Â Â Â 492.00Â Â Â Â Â Â -3.10Â Â Â Â Â Â -0.63%
Canola May 2015Â Â Â Â Â Â 493.60Â Â Â Â Â Â -3.30Â Â Â Â Â Â -0.66%
Milling Wheat Jul 2014Â Â Â Â Â Â 221.00Â Â Â Â Â Â -2.00Â Â Â Â Â Â -0.90%
Milling Wheat Oct 2014Â Â Â Â Â Â 221.00Â Â Â Â Â Â -2.00Â Â Â Â Â Â -0.90%
Milling Wheat Dec 2014Â Â Â Â Â Â 225.00Â Â Â Â Â Â -1.00Â Â Â Â Â Â -0.44%
Durum Wheat Jul 2014      252.00      unch      0.00%
Durum Wheat Oct 2014      243.00      unch      0.00%
Durum Wheat Dec 2014      245.00      unch      0.00%
Barley Jul 2014      150.00      unch      0.00%
Barley Oct 2014      150.00      unch      0.00%
Barley Dec 2014      152.00      unch      0.00%
American crop prices in cents US/bushel, soybean meal in $US/short ton, soy oil in cents US/pound
Chicago
Soybeans Jul 2014Â Â Â Â Â Â 1515.5Â Â Â Â Â Â -3.25Â Â Â Â Â Â -0.21%
Soybeans Aug 2014Â Â Â Â Â Â 1445.5Â Â Â Â Â Â -2.5Â Â Â Â Â Â -0.17%
Soybeans Sep 2014Â Â Â Â Â Â 1320.75Â Â Â Â Â Â -6.5Â Â Â Â Â Â -0.49%
Soybeans Nov 2014Â Â Â Â Â Â 1265.75Â Â Â Â Â Â -5Â Â Â Â Â Â -0.39%
Soybeans Jan 2015Â Â Â Â Â Â 1271.25Â Â Â Â Â Â -4.75Â Â Â Â Â Â -0.37%
Soybeans Mar 2015Â Â Â Â Â Â 1275.25Â Â Â Â Â Â -4.25Â Â Â Â Â Â -0.33%
Soybean Meal Jul 2014Â Â Â Â Â Â 502.6Â Â Â Â Â Â +1.1Â Â Â Â Â Â +0.22%
Soybean Meal Aug 2014Â Â Â Â Â Â 475.4Â Â Â Â Â Â +0.5Â Â Â Â Â Â +0.11%
Soybean Meal Sep 2014Â Â Â Â Â Â 440.9Â Â Â Â Â Â -1.6Â Â Â Â Â Â -0.36%
Soybean Oil Jul 2014Â Â Â Â Â Â 40.38Â Â Â Â Â Â -0.48Â Â Â Â Â Â -1.17%
Soybean Oil Aug 2014Â Â Â Â Â Â 40.41Â Â Â Â Â Â -0.44Â Â Â Â Â Â -1.08%
Soybean Oil Sep 2014Â Â Â Â Â Â 40.44Â Â Â Â Â Â -0.38Â Â Â Â Â Â -0.93%
Corn Jul 2014Â Â Â Â Â Â 478Â Â Â Â Â Â +1.25Â Â Â Â Â Â +0.26%
Corn Sep 2014Â Â Â Â Â Â 475.5Â Â Â Â Â Â +1.5Â Â Â Â Â Â +0.32%
Corn Dec 2014Â Â Â Â Â Â 475.25Â Â Â Â Â Â +1.75Â Â Â Â Â Â +0.37%
Corn Mar 2015Â Â Â Â Â Â 484.75Â Â Â Â Â Â +2Â Â Â Â Â Â +0.41%
Corn May 2015Â Â Â Â Â Â 491Â Â Â Â Â Â +2Â Â Â Â Â Â +0.41%
Oats Jul 2014Â Â Â Â Â Â 345.5Â Â Â Â Â Â -0.5Â Â Â Â Â Â -0.14%
Oats Sep 2014Â Â Â Â Â Â 335.5Â Â Â Â Â Â +1Â Â Â Â Â Â +0.30%
Oats Dec 2014Â Â Â Â Â Â 331.5Â Â Â Â Â Â +1.5Â Â Â Â Â Â +0.45%
Oats Mar 2015Â Â Â Â Â Â 327.75Â Â Â Â Â Â +3.5Â Â Â Â Â Â +1.08%
Oats May 2015Â Â Â Â Â Â 323.75Â Â Â Â Â Â +3.5Â Â Â Â Â Â +1.09%
Wheat Jul 2014Â Â Â Â Â Â 652.5Â Â Â Â Â Â -6.75Â Â Â Â Â Â -1.02%
Wheat Sep 2014Â Â Â Â Â Â 663.75Â Â Â Â Â Â -6.25Â Â Â Â Â Â -0.93%
Wheat Dec 2014Â Â Â Â Â Â 682.25Â Â Â Â Â Â -6Â Â Â Â Â Â -0.87%
Wheat Mar 2015Â Â Â Â Â Â 699.25Â Â Â Â Â Â -6Â Â Â Â Â Â -0.85%
Wheat May 2015Â Â Â Â Â Â 707.5Â Â Â Â Â Â -5.25Â Â Â Â Â Â -0.74%
Minneapolis
Spring Wheat Jul 2014Â Â Â Â Â Â 725.5Â Â Â Â Â Â -5.5Â Â Â Â Â Â -0.75%
Spring Wheat Sep 2014Â Â Â Â Â Â 733.75Â Â Â Â Â Â -4Â Â Â Â Â Â -0.54%
Spring Wheat Dec 2014Â Â Â Â Â Â 743Â Â Â Â Â Â -4.5Â Â Â Â Â Â -0.60%
Spring Wheat Mar 2015Â Â Â Â Â Â 751Â Â Â Â Â Â -4Â Â Â Â Â Â -0.53%
Spring Wheat May 2015Â Â Â Â Â Â 755.25Â Â Â Â Â Â -2.75Â Â Â Â Â Â -0.36%
Kansas City
KC HRW Wheat Jul 2014Â Â Â Â Â Â 745Â Â Â Â Â Â -6.75Â Â Â Â Â Â -0.90%
KC HRW Wheat Sep 2014Â Â Â Â Â Â 752.25Â Â Â Â Â Â -6.75Â Â Â Â Â Â -0.89%
KC HRW Wheat Dec 2014Â Â Â Â Â Â 763.25Â Â Â Â Â Â -6.5Â Â Â Â Â Â -0.84%
KC HRW Wheat Mar 2015Â Â Â Â Â Â 767.75Â Â Â Â Â Â -6Â Â Â Â Â Â -0.78%
KC HRW Wheat May 2015Â Â Â Â Â Â 765.25Â Â Â Â Â Â -6.25Â Â Â Â Â Â -0.81%
July crude oil in New York closed up 61 cents at $104.35.
The Bank of Canada said the Canadian dollar at noon was 92 cents US, up from 91.76 cents the day before.
The U.S. buck was $1.0870 Cdn.
Sales of new U.S. single-family homes rose more than expected in April and the supply of houses on the market hit a 3 ½ year high
Canada’s annual inflation rate rose to the central bank’s two percent target in April for the first time in two years.
In unofficial tallies —
The Toronto Stock Exchange’s S&P/TSX composite index closed up 5.81 points, or 0.04 percent, at 14,708.10.
The Dow Jones industrial average rose 63.19 points or 0.38 percent, to end at 16,606.27.
The S&P 500 gained 8.04 points or 0.42 percent, to finish at 1,900.53, a record high.
The Nasdaq Composite added 31.47 points or 0.76 percent, to close at 4,185.81.
For the week, the TSX rose 1.3 percent, the Dow rose 0.7 percent, the S&P 500 gained 1.2 percent and the Nasdaq climbed 2.3 percent.
