Spring wheat futures were the stand out performer Wednesday, rising more than one percent.
Other crop futures changed only modestly. January canola closed up 70 cents a tonne at $520.80.
WATCH THIS WEEK’S MARKET VIDEO ON PULSES AND CRUDE OIL
The market awaited Thursday’s USDA monthly supply and demand. The expectation is that it will lower U.S. yields and raise corn yields.
Wheat markets adjusted with Chicago and Kansas closing little chaned, but Minneapolis spring wheat rising on the relative tightness of that class compared to the burdensome world supplies of other wheat types.
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Canada lifts several import tariffs on U.S. goods as talks continue
Starting September 1, Canada will adjust its tariffs on agricultural products, consumer goods and machinery, Prime Minister Mark Carney announced at a press conference in Ottawa on Friday.
India brought out a 50 percent duty on pea imports and raised the duty on wheat to 20 percent from 10.
The duty is a response to an oversupplied pulse market in India after good crops and large imports last crop year. Farmers there are seeding the winter crop and the government wants to encourage production and limit reliance on imported product.
The duty will hurt any pea shipments that were already bought and on route. They might be redirected to other countries.
Canada was already selling few pulses to India this fall because of its ample existing supply and issues over fumigation.
OUTSIDE MARKETS
Light crude oil nearby futures in New York were down 39 cents at US$56.81 per barrel.
In the afternoon, the Canadian dollar was trading around US78.57 cents, up from 78.26 cents the previous trading day. The U.S. dollar was C$1.2728.
The Toronto Stock Exchange’s S&P/TSX composite index ended 26.44 points, or 0.16 percent lower, at 16,105.35.
The Dow Jones Industrial Average edged up 0.03 percent to close at 23,563.36, the S&P 500 gained 0.14 percent to 2,594.38 and the Nasdaq Composite rose 0.32 percent to close at 6,789.12.
Winnipeg ICE Futures Canada dollars per tonne
Canola Nov 17 518.30s +0.70 +0.14%
Canola Jan 18 520.80s +0.70 +0.13%
Canola Mar 18 527.90s +0.80 +0.15%
Canola May 18 532.50s +0.90 +0.17%
Canola Jul 18 535.60s +0.60 +0.11%
American crop prices in cents US/bushel, soybean meal in $US/short ton, soy oil in cents US/pound. Prices are displayed with fractions (2/8, 4/8, and 6/8) instead of decimals. -2 equals .25, -4 equals .50, -6 equals .75. The “s” means it is the settlement.
Chicago
Soybeans Nov 17 988-0s +2-0 +0.20%
Soybeans Jan 18 998-4s +2-4 +0.25%
Soybeans Mar 18 1009-4s +3-0 +0.30%
Soybeans May 18 1018-0s +2-6 +0.27%
Soybeans Jul 18 1026-2s +2-6 +0.27%
Soybean Meal Dec 17 315.2s -0.3 -0.10%
Soybean Meal Jan 18 317.4s -0.3 -0.09%
Soybean Meal Mar 18 320.9s -0.2 -0.06%
Soybean Oil Dec 17 35.37s +0.35 +1.00%
Soybean Oil Jan 18 35.53s +0.35 +0.99%
Soybean Oil Mar 18 35.75s +0.35 +0.99%
Corn Dec 17 348-2s +0-4 +0.14%
Corn Mar 18 361-2s +0-2 +0.07%
Corn May 18 369-6s unch unch
Corn Jul 18 377-4s +0-2 +0.07%
Corn Sep 18 384-4s +0-2 +0.07%
Oats Dec 17 269-4s -1-0 -0.37%
Oats Mar 18 275-6s +3-0 +1.10%
Oats May 18 278-6s +2-2 +0.81%
Oats Jul 18 279-2s +2-2 +0.81%
Oats Sep 18 279-2s +2-2 +0.81%
Wheat Dec 17 426-6s -0-4 -0.12%
Wheat Mar 18 443-6s -1-0 -0.22%
Wheat May 18 456-0s -1-2 -0.27%
Wheat Jul 18 469-4s -1-4 -0.32%
Wheat Sep 18 484-6s -1-4 -0.31%
Minneapolis
Spring Wheat Dec 17 643-4s +8-6 +1.38%
Spring Wheat Mar 18 654-4s +8-4 +1.32%
Spring Wheat May 18 660-2s +7-2 +1.11%
Spring Wheat Jul 18 660-4s +5-2 +0.80%
Spring Wheat Sep 18 644-2s +3-2 +0.51%
Kansas City
Hard Red Wheat Dec 17 427-4s +1-0 +0.23%
Hard Red Wheat Mar 18 445-0s +1-2 +0.28%
Hard Red Wheat May 18 458-0s +0-4 +0.11%
Hard Red Wheat Jul 18 474-0s unch unch
Hard Red Wheat Sep 18 490-0s -1-0 -0.20%
Chicago livestock futures in US¢/pound, Pit trade
Live Cattle Dec 17 122.925s -1.700 -1.36%
Live Cattle Feb 18 128.575s -1.800 -1.38%
Live Cattle Apr 18 128.375s -1.000 -0.77%
Feeder Cattle Nov 17 157.325s -2.550 -1.59%
Feeder Cattle Jan 18 156.900s -3.625 -2.26%
Feeder Cattle Mar 18 154.500s -2.850 -1.81%
Lean Hogs Dec 17 63.550s -0.375 -0.59%
Lean Hogs Feb 18 69.750s -1.125 -1.59%
Lean Hogs Apr 18 73.950s -0.725 -0.97%
