Wheat futures continued their decline Wednesday but canola was little changed.
More rain is forecast in the U.S. southern Plains and that kept the pressure on wheat with the nearby hard red winter price down 1.39 percent and hard red spring wheat down 1.59 percent.
Canola was mixed with May setting at $454.60, down $1.60 or 0.35 percent and November rising 20 cents or 0.04 percent to $448.10.
The canola market was higher early in the morning but it and soybeans fell following the release of the monthly U.S. crushing report. It was a surprising move because the report showed crushings topped market expectations and soy oil stocks were less than expected.
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Canola was also struggling against the headwind of a stronger loonie.
Soybeans did post a gain on the day though.
Soy oil rose to the highest level in five weeks.
Nearby corn futures edged up 1.75 cents a bushel.
The weekly Agriculture Canada port price summary showed durum prices continued to take it on the chin.
The price for No. 1 durum 13 percent protein at the West Coast fell to $528.95 per tonne, down $7.26 from the week before and down $33.89 from two weeks ago.
The Bank of Canada today did not raise interest rates and governor Stephen Poloz suggested that a cut might not be needed as the bank expects the economy will rebound without one.
Light crude oil nearby futures in New York were up $3.10 to US$56.39 per barrel.
The Canadian dollar at noon was US80.78 cents, up from 80.14 cents the previous trading day. The U.S. dollar at noon was C$1.2379.
The TSX composite rose 62.84 points or 0.41 percent to close at 15,452.12.
The Dow Jones industrial average rose 75.04 points, or 0.42 percent, to 18,111.74, the S&P 500 gained 10.68 points, or 0.51 percent, to 2,106.52 and the Nasdaq Composite added 33.73 points, or 0.68 percent, to 5,011.02.
Winnipeg ICE Futures Canada dollars per tonne
Canola May 2015 454.60 -1.60 -0.35%
Canola Jul 2015 456.80 unch 0.00%
Canola Nov 2015 448.10 +0.20 +0.04%
Canola Jan 2016 449.30 +0.20 +0.04%
Canola Mar 2016 448.60 +0.20 +0.04%
Milling Wheat May 2015 216.00 -3.00 -1.37%
Milling Wheat Jul 2015 220.00 -2.00 -0.90%
Milling Wheat Oct 2015 223.00 -2.00 -0.89%
Durum Wheat May 2015 323.00 unch 0.00%
Durum Wheat Jul 2015 313.00 unch 0.00%
Durum Wheat Oct 2015 318.00 unch 0.00%
Barley May 2015 205.00 unch 0.00%
Barley Jul 2015 205.00 unch 0.00%
Barley Oct 2015 190.00 unch 0.00%
American crop prices in cents US/bushel, soybean meal in $US/short ton, soy oil in cents US/pound
Chicago
Soybeans May 2015 965 +4.75 +0.49%
Soybeans Jul 2015 967.75 +3.75 +0.39%
Soybeans Sep 2015 957 +3.25 +0.34%
Soybeans Nov 2015 952.5 +4.25 +0.45%
Soybeans Jan 2016 958.75 +4.25 +0.45%
Soybean Meal May 2015 311.5 -2.1 -0.67%
Soybean Meal Jul 2015 311.2 -2.3 -0.73%
Soybean Meal Aug 2015 310 -2.4 -0.77%
Soybean Oil May 2015 31.8 +0.5 +1.60%
Soybean Oil Jul 2015 32.01 +0.53 +1.68%
Soybean Oil Aug 2015 32.05 +0.52 +1.65%
Corn May 2015 376 +2.5 +0.67%
Corn Jul 2015 383 +2 +0.52%
Corn Sep 2015 390.75 +2 +0.51%
Corn Dec 2015 400.5 +1.5 +0.38%
Corn Mar 2016 411 +1.5 +0.37%
Oats May 2015 261.25 -2.5 -0.95%
Oats Jul 2015 266.5 -1.75 -0.65%
Oats Sep 2015 272.5 -1.5 -0.55%
Oats Dec 2015 277.75 +1.5 +0.54%
Oats Mar 2016 282.75 -0.5 -0.18%
Wheat May 2015 490.75 -6.25 -1.26%
Wheat Jul 2015 489 -7.5 -1.51%
Wheat Sep 2015 498 -7.5 -1.48%
Wheat Dec 2015 512.75 -7.5 -1.44%
Wheat Mar 2016 526.75 -8.25 -1.54%
Minneapolis
Spring Wheat May 2015 543.25 -8.75 -1.59%
Spring Wheat Jul 2015 554 -6.75 -1.20%
Spring Wheat Sep 2015 563.25 -5.75 -1.01%
Spring Wheat Dec 2015 574.25 -6 -1.03%
Kansas City
Hard Red Wheat May 2015 514.5 -7.25 -1.39%
Hard Red Wheat Jul 2015 518 -7.75 -1.47%
Hard Red Wheat Sep 2015 530.75 -7.75 -1.44%
Hard Red Wheat Dec 2015 548 -7.75 -1.39%
Hard Red Wheat Mar 2016 561.5 -7.75 -1.36%
