Canola futures rose Wednesday, bucking lower prices in soybeans.
Factors supporting canola were tight supplies, a weaker loonie, the potential for seeding delays due to rain forecasts for Friday and the weekend in eastern Saskatchewan and Manitoba.
The weekend forecast for central Saskatchewan turned drier today.
Good seeding progress in the U.S. Midwest pressured corn and soybeans lower. But rain is expected to slow seeding in several parts of the region over the next couple of days.
Soft wheat took the biggest hit today, falling more than two percent. Hard red spring fell only about one percent. The harvest of winter wheat will begin in a few weeks.
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Reuters reported that a record two million tonnes of South American corn has been booked to supply American livestock operations on the East Coast. Arrivals are for the summer when U.S. stocks of corn are expected to be exceptionally tight before the harvest.
A Reuters survey of trades says on average the number of cattle placed on feed will be up 13.1 percent over the same time last year. The USDA cattle on feed report comes out on Friday. After the big drop in corn prices following the March stocks report it became cheaper to feed cattle.
The Reuters survey shows traders on average expect the number of cattle in U.S. feedlots as of May 1 will be down 3.9 percent from a year ago
Concerns about late seeding in northeast China, a key corn-growing region, are increasing.
Winnipeg ICE Futures Canada in dollars per tonne
Canola Jul 2013Â Â Â Â Â Â 628.00Â Â Â Â Â Â +1.80Â Â Â Â Â Â +0.29%
Canola Nov 2013Â Â Â Â Â Â 544.20Â Â Â Â Â Â +1.80Â Â Â Â Â Â +0.33%
Canola Jan 2014Â Â Â Â Â Â 546.50Â Â Â Â Â Â +2.20Â Â Â Â Â Â +0.40%
Canola Mar 2014Â Â Â Â Â Â 543.30Â Â Â Â Â Â +3.50Â Â Â Â Â Â +0.65%
Canola May 2014Â Â Â Â Â Â 537.90Â Â Â Â Â Â +3.50Â Â Â Â Â Â +0.65%
Milling Wheat Jul 2013      294.00      unch      0.00%
Milling Wheat Oct 2013      294.00      unch      0.00%
Milling Wheat Dec 2013      294.00      unch      0.00%
Durum Wheat Jul 2013      301.90      unch      0.00%
Durum Wheat Oct 2013      294.90      unch      0.00%
Durum Wheat Dec 2013      299.40      unch      0.00%
Barley Jul 2013      244.00      unch      0.00%
Barley Oct 2013      194.00      unch      0.00%
Barley Dec 2013      199.00      unch      0.00%
U.S. crops in cents US per bushel, soy meal $US per short ton, soy oil in cents per pound.
Chicago
Soybeans Jul 2013Â Â Â Â Â Â 1412.75Â Â Â Â Â Â -2Â Â Â Â Â Â -0.14%
Soybeans Aug 2013Â Â Â Â Â Â 1342Â Â Â Â Â Â -4.25Â Â Â Â Â Â -0.32%
Soybeans Sep 2013Â Â Â Â Â Â 1262.5Â Â Â Â Â Â -5.5Â Â Â Â Â Â -0.43%
Soybeans Nov 2013Â Â Â Â Â Â 1209.75Â Â Â Â Â Â -4.25Â Â Â Â Â Â -0.35%
Soybeans Jan 2014Â Â Â Â Â Â 1217.25Â Â Â Â Â Â -4.5Â Â Â Â Â Â -0.37%
Soybeans Mar 2014Â Â Â Â Â Â 1223Â Â Â Â Â Â -4.75Â Â Â Â Â Â -0.39%
Soybean Meal Jul 2013Â Â Â Â Â Â 410.5Â Â Â Â Â Â -1.3Â Â Â Â Â Â -0.32%
Soybean Meal Aug 2013Â Â Â Â Â Â 387.9Â Â Â Â Â Â -0.7Â Â Â Â Â Â -0.18%
Soybean Meal Sep 2013Â Â Â Â Â Â 362.7Â Â Â Â Â Â -0.9Â Â Â Â Â Â -0.25%
Soybean Oil Jul 2013Â Â Â Â Â Â 49.35Â Â Â Â Â Â -0.41Â Â Â Â Â Â -0.82%
Soybean Oil Aug 2013Â Â Â Â Â Â 49.13Â Â Â Â Â Â -0.38Â Â Â Â Â Â -0.77%
Soybean Oil Sep 2013Â Â Â Â Â Â 48.9Â Â Â Â Â Â -0.33Â Â Â Â Â Â -0.67%
Corn Jul 2013Â Â Â Â Â Â 650.75Â Â Â Â Â Â -1.75Â Â Â Â Â Â -0.27%
Corn Sep 2013Â Â Â Â Â Â 563.5Â Â Â Â Â Â -6.25Â Â Â Â Â Â -1.10%
Corn Dec 2013Â Â Â Â Â Â 531.75Â Â Â Â Â Â -6.25Â Â Â Â Â Â -1.16%
Corn Mar 2014Â Â Â Â Â Â 542.25Â Â Â Â Â Â -5.5Â Â Â Â Â Â -1.00%
Corn May 2014Â Â Â Â Â Â 550Â Â Â Â Â Â -5.5Â Â Â Â Â Â -0.99%
Oats Jul 2013Â Â Â Â Â Â 379.5Â Â Â Â Â Â -4.75Â Â Â Â Â Â -1.24%
Oats Sep 2013Â Â Â Â Â Â 370.25Â Â Â Â Â Â +1Â Â Â Â Â Â +0.27%
Oats Dec 2013Â Â Â Â Â Â 362.25Â Â Â Â Â Â +0.75Â Â Â Â Â Â +0.21%
Oats Mar 2014Â Â Â Â Â Â 366.25Â Â Â Â Â Â +0.75Â Â Â Â Â Â +0.21%
Oats May 2014Â Â Â Â Â Â 368.5Â Â Â Â Â Â +0.75Â Â Â Â Â Â +0.20%
Chicago soft red winter
Wheat Jul 2013Â Â Â Â Â Â 693.75Â Â Â Â Â Â -17Â Â Â Â Â Â -2.39%
Wheat Sep 2013Â Â Â Â Â Â 702.25Â Â Â Â Â Â -17.25Â Â Â Â Â Â -2.40%
Wheat Dec 2013Â Â Â Â Â Â 718.5Â Â Â Â Â Â -17Â Â Â Â Â Â -2.31%
Wheat Mar 2014Â Â Â Â Â Â 735.25Â Â Â Â Â Â -17.25Â Â Â Â Â Â -2.29%
Wheat May 2014Â Â Â Â Â Â 740.75Â Â Â Â Â Â -17.25Â Â Â Â Â Â -2.28%
Minneapolis Hard red spring
Spring Wheat Jul 2013Â Â Â Â Â Â 803.75Â Â Â Â Â Â -7.5Â Â Â Â Â Â -0.92%
Spring Wheat Sep 2013Â Â Â Â Â Â 798.5Â Â Â Â Â Â -8Â Â Â Â Â Â -0.99%
Spring Wheat Dec 2013Â Â Â Â Â Â 806Â Â Â Â Â Â -8.75Â Â Â Â Â Â -1.07%
Spring Wheat Mar 2014Â Â Â Â Â Â 819Â Â Â Â Â Â -7.5Â Â Â Â Â Â -0.91%
Spring Wheat May 2014Â Â Â Â Â Â 824.5Â Â Â Â Â Â -9.75Â Â Â Â Â Â -1.17%
Kansas City hard red winter wheat
KCBT Red Wheat Jul 2013Â Â Â Â Â Â 751.75Â Â Â Â Â Â -15.25Â Â Â Â Â Â -1.99%
KCBT Red Wheat Sep 2013Â Â Â Â Â Â 759.25Â Â Â Â Â Â -15.75Â Â Â Â Â Â -2.03%
KCBT Red Wheat Dec 2013Â Â Â Â Â Â 775Â Â Â Â Â Â -16.75Â Â Â Â Â Â -2.12%
KCBT Red Wheat Mar 2014Â Â Â Â Â Â 788.75Â Â Â Â Â Â -16Â Â Â Â Â Â -1.99%
KCBT Red Wheat May 2014Â Â Â Â Â Â 792.25Â Â Â Â Â Â -15Â Â Â Â Â Â -1.86%
The Bank of Canada noon rate for the loonie was 98.30 cents US, down from 98.54 on Tuesday. The U.S. buck was $1.173.
Nearby crude oil in New York was up nine cents at $94.30 per barrel.
Weak economic data from Europe and the United States pressured the TSX lower but the Dow and S&P 500 stuck with the trend and posed new record highs. The Nasdaq closed lower as Apple shares fell.
The TSX composite closed down 109.07 points or 0.87 percent at 12,467.98.
The Dow Jones industrial average rose 29.70 points, or 0.20 percent, at 15,244.95.
The Standard & Poor’s 500 Index was up 4.90 points, or 0.30 percent, at 1,655.24.
The Nasdaq Composite Index climbed 1.21 points, or 0.03 percent, at 3,463.82.
