The need to ration demand to prevent running out of old crop oilseeds lead canola and soybeans a little higher on Monday.
Gains were limited by expectation of large new crop supplies from South America.
But delays in getting Brazilian soy onto ships means buyers will keep turning to the United States unless the price rises enough to discourage it.
Brazil’s soybean crop is now 50 percent harvested.
Most traded May canola closed at $628.30, up 50 cents. New crop November closed at $560, down $1.80.
Read Also
U.S. grains: Corn backs away from gains at close
Chicago | Reuters — U.S. corn futures climbed to a 6-1/2 week high on Friday on short covering ahead of…
Corn enjoyed lingering support from the USDA report on Friday that forecast U.S. year end corn stocks lower than traders expected. U.S. domestic feed demand from poultry and hogs is higher than expected
As of March 10, the Kansas winter wheat crop condition was rated as 32 percent poor to very poor, 41 percent fair, 28 percent good to excellent.
That is an improvement from February when it was 36 percent poor to very poor, 41 percent fair and 23 percent good to excellent.
But last year at the same time the crop was 11 percent poor to very poor, 36 percent fair, 60 percent good to excellent.
The CWB launched a couple of spring pools today. See details at www.cwb.ca.
Slow rising U.S. gasoline demand means ethanol industry will have trouble keeping up with rising ethanol use mandate so long as 10 percent blend is the norm.
Today’s closing prices
Winnipeg ICE Futures (dollars per tonne)
Canola Mar 13 $636.30 +$1.60 +0.25%
Canola May 13 $628.30 +$0.50 +0.08%
Canola Jul 13 $616.40 -$0.20 -0.03%
Canola Nov 13 $560.00 -$1.80 -0.32%
Milling Wheat Mar 13 $289, unchanged
Milling Wheat May 13 $292, unchanged
Milling Wheat Jul 13 $294, unchanged
Milling Wheat Oct 13 $294, unchanged
Durum Wheat Mar 13 $307, unchanged
Durum Wheat May 13 $311, unchanged
Durum Wheat Jul 13 $314, unchanged
Durum Wheat Oct 13 $299.30, unchanged
Barley Mar 13 $242, unchanged
Barley May 13 $243, unchanged
Barley Jul 13 $243.50, unchanged
Barley Oct 13 $243.50, unchanged
U.S. crops priced in cents per bushel
Chicago
Soybeans (P) Mar 13 1514.75 +6.25 +0.41%
Soybeans (P) May 13 1479.5 +8.5 +0.58%
Soybeans (P) Jul 13 1454.75 +7.5 +0.52%
Soybeans (P) Aug 13 1407.25 +3.25 +0.23%
Soybeans (P) Sep 13 1322.5 +0.25 +0.02%
Soybeans (P) Nov 13 1270 +1.5 +0.12%
Corn (P) Mar 13 734.5 +9.25 +1.28%
Corn (P) May 13 711.25 +7.75 +1.10%
Corn (P) Jul 13 690.75 +10.25 +1.51%
Corn (P) Sep 13 578.75 +7.5 +1.31%
Corn (P) Dec 13 554 +7.0 +1.28%
Oats (P) Mar 13 423 +18.75 +4.64%
Oats (P) May 13 393 +5.0 +1.29%
Oats (P) Jul 13 382 +2.0 +0.53%
Oats (P) Sep 13 371.75 +2.0 +0.54%
Oats (P) Dec 13 366 +3.0 +0.83%
Spring Wheat Mar 13 811 +4.75 +0.59%
Spring Wheat May 13 794 +2.0 +0.25%
Spring Wheat Jul 13 791 -0.5 -0.06%
Spring Wheat Sep 13 792 +0.5 +0.06%
Spring Wheat Dec 13 798.25 +1.5 +0.19%
The Bank of Canada’s noon rate for the loonie was 97.39 cents US, little changed from 97.34 on Friday. The U.S. buck was $1.0264 Cdn.
Nearby crude oil in New York rose 11 cents to close at $92.06 pr barrel.
In early tallies –
The Toronto Stock Exchange’s S&P/TSX composite index rose 22.88 points, or 0.18 percent, to close at 12,858.49.
The Dow Jones industrial average gained 50.22 points, or 0.35 percent, to 14,447.29, a record closing high.
The Standard & Poor’s 500 Index rose 5.04 points, or 0.32 percent, to 1,556.22.
The Nasdaq Composite Index added 8.51 points, or 0.26 percent, to close at 3,252.87.
