By D’Arce McMillan, Markets editor
Twitter @ darcemcmillan
Most crops, including canola rose Tuesday, supported by short selling, slow farmer deliveries and strong U.S. exports.
Oats was the only contract to close lower.
December oats futures fell two percent to a roughly 2-½ year low as investors, including hedge funds, liquidated holdings ahead of the December deliveries cycle.
Losses were more modest in deferred months, with March oats down about one percent.
January canola edged up $2.60 per tonne to $435.20, a 0.6 percent gain, supported by stronger soybeans and its components.
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Soy meal, often the market leader this fall, jumped 3.4 percent, fueled by record strong exports of the animal feed. Crushers are scrambling to keep up with the demand.
Nearby soybeans rose 1.7 percent, mostly on support from the meal side of the complex.
But soy oil futures also rose, up 0.66 percent to a three-week high but gains were limited as the CBOT December contract hit resistance at its 100-day moving average, a level it has not surpassed since Oct. 31, Reuters noted.
Kansas City hard red winter and Minneapolis hard red spring wheat each gained about two percent on a decline in the condition of the American winter crop.
The U.S. Department of Agriculture rated 58 percent of the U.S. winter wheat crop as good to excellent, down from 60 percent the previous week. Ratings dropped the most in Nebraska.
The trade is also watching the situation in Russia where dry cold weather has stressed the winter wheat crop.
However, the relatively strong price of American wheat makes it uncompetitive versus other sources and is limiting its export pace.
Agriculture Canada reported that in the week ending Nov. 14 No. 1 durum 13 percent protein at the West Coast was quoted at $503.65 per tonne or $13.71 per bushel.
No. 1 CW red spring wheat 13.5 percent protein was quoted at $331.34 a tonne or $9.02 per bushel.
No. 2 Canada Prairie Spring Red 11 percent protein was quoted at 279.98 a tonne or $7.62 per bushel.
Chicago corn futures rose on short covering and a strong cash market.
Investors are rolling Chicago December wheat and corn positions to March ahead of Friday’s first notice day for deliveries against the December contract.
Light crude oil nearby futures in New York dropped $1.69 at US$74.09 per barrel.
The Canadian dollar at noon was US88.80 cents, up from 88.64 cents the previous trading day. The U.S. dollar at noon was C$1.1261.
In unofficial tallies —
The Toronto Stock Exchange’s S&P/TSX composite index closed up 58.24 points, or 0.39 percent, at 15,073.65.
The Dow Jones industrial average fell 2.83 points, or 0.02 percent, to 17,815.07, the S&P 500 lost 2.28 points, or 0.11 percent, to 2,067.13 and the Nasdaq Composite added 3.36 points, or 0.07 percent, to 4,758.25.
Winnipeg ICE Futures Canada dollars per tonne
Canola Jan 2015Â Â Â Â Â Â 435.20Â Â Â Â Â Â +2.60Â Â Â Â Â Â +0.60%
Canola Mar 2015Â Â Â Â Â Â 436.30Â Â Â Â Â Â +2.10Â Â Â Â Â Â +0.48%
Canola May 2015Â Â Â Â Â Â 437.80Â Â Â Â Â Â +2.30Â Â Â Â Â Â +0.53%
Canola Jul 2015Â Â Â Â Â Â 438.10Â Â Â Â Â Â +2.10Â Â Â Â Â Â +0.48%
Canola Nov 2015Â Â Â Â Â Â 433.00Â Â Â Â Â Â +1.50Â Â Â Â Â Â +0.35%
Milling Wheat Dec 2014Â Â Â Â Â Â 230.00Â Â Â Â Â Â +4.00Â Â Â Â Â +1.77%
Milling Wheat Mar 2015Â Â Â Â Â Â 238.00Â Â Â Â Â Â +4.00Â Â Â Â Â +1.71%
Milling Wheat May 2015Â Â Â Â Â Â 241.00Â Â Â Â Â Â +4.00Â Â Â Â Â +1.69%
Â
Durum Wheat Dec 2014      356.50      unch      0.00%
Durum Wheat Mar 2015      357.50      unch      0.00%
Durum Wheat May 2015      357.50      unch      0.00%
Â
Barley Dec 2014Â Â Â Â Â Â 170.00Â Â Â Â Â Â +6.00Â Â Â Â Â +3.66%
Barley Mar 2015Â Â Â Â Â Â 173.00Â Â Â Â Â Â +7.00Â Â Â Â Â Â +4.22%
Barley May 2015Â Â Â Â Â Â 173.00Â Â Â Â Â Â +7.00Â Â Â Â Â Â +4.22%
American crop prices in cents US/bushel, soybean meal in $US/short ton, soy oil in cents US/pound
Chicago
Soybeans Jan 2015Â Â Â Â Â Â 1051Â Â Â Â Â Â +17.25Â Â Â Â Â Â +1.67%
Soybeans Mar 2015Â Â Â Â Â Â 1056.25Â Â Â Â Â Â +16.5Â Â Â Â Â Â +1.59%
Soybeans May 2015Â Â Â Â Â Â 1061.25Â Â Â Â Â Â +15.5Â Â Â Â Â Â +1.48%
Soybeans Jul 2015Â Â Â Â Â Â 1065.25Â Â Â Â Â Â +15.75Â Â Â Â Â Â +1.50%
Soybeans Aug 2015Â Â Â Â Â Â 1064Â Â Â Â Â Â +15.25Â Â Â Â Â Â +1.45%
Soybeans Sep 2015Â Â Â Â Â Â 1040.25Â Â Â Â Â Â +14.5Â Â Â Â Â Â +1.41%
Soybean Meal Dec 2014Â Â Â Â Â Â 390.6Â Â Â Â Â Â +15.7Â Â Â Â Â Â +4.19%
Soybean Meal Jan 2015Â Â Â Â Â Â 374.8Â Â Â Â Â Â +12.2Â Â Â Â Â Â +3.36%
Soybean Meal Mar 2015Â Â Â Â Â Â 358.4Â Â Â Â Â Â +8.6Â Â Â Â Â Â +2.46%
Soybean Oil Dec 2014Â Â Â Â Â Â 33.42Â Â Â Â Â Â +0.22Â Â Â Â Â Â +0.66%
Soybean Oil Jan 2015Â Â Â Â Â Â 33.59Â Â Â Â Â Â +0.23Â Â Â Â Â Â +0.69%
Soybean Oil Mar 2015Â Â Â Â Â Â 33.79Â Â Â Â Â Â +0.21Â Â Â Â Â Â +0.63%
Corn Dec 2014Â Â Â Â Â Â 374.25Â Â Â Â Â Â +6.75Â Â Â Â Â Â +1.84%
Corn Mar 2015Â Â Â Â Â Â 387.25Â Â Â Â Â Â +7Â Â Â Â Â Â +1.84%
Corn May 2015Â Â Â Â Â Â 395.75Â Â Â Â Â Â +6.5Â Â Â Â Â Â +1.67%
Corn Jul 2015Â Â Â Â Â Â 403Â Â Â Â Â Â +6.75Â Â Â Â Â Â +1.70%
Corn Sep 2015Â Â Â Â Â Â 408.75Â Â Â Â Â Â +6.25Â Â Â Â Â Â +1.55%
Oats Dec 2014Â Â Â Â Â Â 299Â Â Â Â Â Â -6.5Â Â Â Â Â Â -2.13%
Oats Mar 2015Â Â Â Â Â Â 309Â Â Â Â Â Â -3Â Â Â Â Â Â -0.96%
Oats May 2015Â Â Â Â Â Â 311.5Â Â Â Â Â Â -1.25Â Â Â Â Â Â -0.40%
Oats Jul 2015      312.25      unch      0.00%
Oats Sep 2015Â Â Â Â Â Â 308Â Â Â Â Â Â +0.5Â Â Â Â Â Â +0.16%
Wheat Dec 2014Â Â Â Â Â Â 551.5Â Â Â Â Â Â +9.25Â Â Â Â Â Â +1.71%
Wheat Mar 2015Â Â Â Â Â Â 557.75Â Â Â Â Â Â +8.25Â Â Â Â Â Â +1.50%
Wheat May 2015Â Â Â Â Â Â 564.75Â Â Â Â Â Â +7.75Â Â Â Â Â Â +1.39%
Wheat Jul 2015Â Â Â Â Â Â 570Â Â Â Â Â Â +7.25Â Â Â Â Â Â +1.29%
Wheat Sep 2015Â Â Â Â Â Â 577.75Â Â Â Â Â Â +6.5Â Â Â Â Â Â +1.14%
Minneapolis
Spring Wheat Dec 2014Â Â Â Â Â Â 590.75Â Â Â Â Â Â +11.75Â Â Â Â Â Â +2.03%
Spring Wheat Mar 2015Â Â Â Â Â Â 600.75Â Â Â Â Â Â +11.25Â Â Â Â Â Â +1.91%
Spring Wheat May 2015Â Â Â Â Â Â 609.5Â Â Â Â Â Â +11.75Â Â Â Â Â Â +1.97%
Spring Wheat Jul 2015Â Â Â Â Â Â 617.75Â Â Â Â Â Â +11.75Â Â Â Â Â Â +1.94%
Spring Wheat Sep 2015Â Â Â Â Â Â 626Â Â Â Â Â Â +11.75Â Â Â Â Â Â +1.91%
Kansas City
Hard Red Wheat Dec 2014Â Â Â Â Â Â 617.25Â Â Â Â Â Â +13Â Â Â Â Â Â +2.15%
Hard Red Wheat Mar 2015Â Â Â Â Â Â 619Â Â Â Â Â Â +13.25Â Â Â Â Â Â +2.19%
Hard Red Wheat May 2015Â Â Â Â Â Â 620.5Â Â Â Â Â Â +12.75Â Â Â Â Â Â +2.10%
Hard Red Wheat Jul 2015Â Â Â Â Â Â 617.5Â Â Â Â Â Â +11.25Â Â Â Â Â Â +1.86%
Hard Red Wheat Sep 2015Â Â Â Â Â Â 627.75Â Â Â Â Â Â +11Â Â Â Â Â Â +1.78%
