By D’Arce McMijllan, markets editor
Twitter @ darcemcmillan
Canola and other crop futures fell Wednesday as the U.S. harvest approaches its conclusion and more supplies hit the cash market.
Soybeans, meal and oil all fell, with the down swell washing into the canola market, which had risen the previous three sessions.
There was added technical weakness as the price in various contracts fell below key moving averages.
Analysts expect the U.S. Department of Agriculture tomorrow will show that soybean export sales were in a range from 700,000 to one million tonnes in the latest week. A week ago, soy export sales were 1.074 million tonnes.
Soymeal export sales are expected to be between a negative 100,000 to 100,000 tonnes compared to 21,337 tonnes a week ago.
Corn was pressured lower by the advancing harvest and larger available cash supplies.
That helped to pressure wheat lower.
Crop forecaster Lanworth issued an outlook of the U.S. winter wheat seeded area and production. See the story here.
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Light crude oil nearby futures in New York dropped three cents at US$74.58 per barrel.
The Canadian dollar at noon was US88.11 cents, down from US88.46 cents the previous trading day. The U.S. dollar at noon was C$1.1350.
Minutes of the U.S. central bank’s Oct. 28-29 meeting, where policymakers decided to finally end their bond-buying stimulus, indicated a debate among policymakers over the outlook for inflation and the economy. It gave traders few clues as to when interest rate might rise.
The Toronto Stock Exchange’s S&P/TSX composite index closed up 7.18 points, or 0.05 percent, at 14,980.15.
The Dow Jones industrial average fell 2.09 points, or 0.01 percent, to 17,685.73, the S&P 500 lost 3.08 points, or 0.15 percent, to 2,048.72 and the Nasdaq Composite dropped 26.73 points, or 0.57 percent, to 4,675.71.
WATCH FOR MY VIDEO WEEKLY MARKET WRAPUP THURSDAY MORNING AT PRODUCER.COM.
Winnipeg ICE Futures Canada dollars per tonne
Canola Jan 2015Â Â Â Â Â Â 427.90Â Â Â Â Â Â -5.50Â Â Â Â Â Â -1.27%
Canola Mar 2015Â Â Â Â Â Â 431.40Â Â Â Â Â Â -5.00Â Â Â Â Â Â -1.15%
Canola May 2015Â Â Â Â Â Â 432.70Â Â Â Â Â Â -4.70Â Â Â Â Â Â -1.07%
Canola Jul 2015Â Â Â Â Â Â 433.70Â Â Â Â Â Â -5.20Â Â Â Â Â Â -1.18%
Canola Nov 2015Â Â Â Â Â Â 430.10Â Â Â Â Â Â -7.10Â Â Â Â Â Â -1.62%
Milling Wheat Dec 2014Â Â Â Â Â Â 222.00Â Â Â Â Â Â -3.00Â Â Â Â Â Â -1.33%
Milling Wheat Mar 2015Â Â Â Â Â Â 230.00Â Â Â Â Â Â -3.00Â Â Â Â Â Â -1.29%
Milling Wheat May 2015Â Â Â Â Â Â 233.00Â Â Â Â Â Â -3.00Â Â Â Â Â Â -1.27%
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%
Barley Dec 2014      160.00      unch      0.00%
Barley Mar 2015      163.00      unch      0.00%
Barley May 2015      163.00      unch      0.00%
American crop prices in cents US/bushel, soybean meal in $US/short ton, soy oil in cents US/pound
Chicago
Soybeans Jan 2015Â Â Â Â Â Â 1004.75Â Â Â Â Â Â -18.5Â Â Â Â Â Â -1.81%
Soybeans Mar 2015Â Â Â Â Â Â 1012Â Â Â Â Â Â -19Â Â Â Â Â Â -1.84%
Soybeans May 2015Â Â Â Â Â Â 1018.25Â Â Â Â Â Â -19Â Â Â Â Â Â -1.83%
Soybeans Jul 2015Â Â Â Â Â Â 1023.25Â Â Â Â Â Â -19.25Â Â Â Â Â Â -1.85%
Soybeans Aug 2015Â Â Â Â Â Â 1024.25Â Â Â Â Â Â -18.5Â Â Â Â Â Â -1.77%
Soybeans Sep 2015Â Â Â Â Â Â 1005.75Â Â Â Â Â Â -18Â Â Â Â Â Â -1.76%
Soybean Meal Dec 2014Â Â Â Â Â Â 370.4Â Â Â Â Â Â -7.6Â Â Â Â Â Â -2.01%
Soybean Meal Jan 2015Â Â Â Â Â Â 356.1Â Â Â Â Â Â -7.5Â Â Â Â Â Â -2.06%
Soybean Meal Mar 2015Â Â Â Â Â Â 340.7Â Â Â Â Â Â -7.7Â Â Â Â Â Â -2.21%
Soybean Oil Dec 2014Â Â Â Â Â Â 32.51Â Â Â Â Â Â -0.14Â Â Â Â Â Â -0.43%
Soybean Oil Jan 2015Â Â Â Â Â Â 32.64Â Â Â Â Â Â -0.15Â Â Â Â Â Â -0.46%
Soybean Oil Mar 2015Â Â Â Â Â Â 32.86Â Â Â Â Â Â -0.16Â Â Â Â Â Â -0.48%
Corn Dec 2014Â Â Â Â Â Â 363.25Â Â Â Â Â Â -8.75Â Â Â Â Â Â -2.35%
Corn Mar 2015Â Â Â Â Â Â 376Â Â Â Â Â Â -9Â Â Â Â Â Â -2.34%
Corn May 2015Â Â Â Â Â Â 385Â Â Â Â Â Â -8.75Â Â Â Â Â Â -2.22%
Corn Jul 2015Â Â Â Â Â Â 392.25Â Â Â Â Â Â -8.75Â Â Â Â Â Â -2.18%
Corn Sep 2015Â Â Â Â Â Â 398Â Â Â Â Â Â -9.25Â Â Â Â Â Â -2.27%
Oats Dec 2014Â Â Â Â Â Â 326.5Â Â Â Â Â Â -7.5Â Â Â Â Â Â -2.25%
Oats Mar 2015Â Â Â Â Â Â 330.25Â Â Â Â Â Â -2.75Â Â Â Â Â Â -0.83%
Oats May 2015Â Â Â Â Â Â 329Â Â Â Â Â Â -1.75Â Â Â Â Â Â -0.53%
Oats Jul 2015Â Â Â Â Â Â 326Â Â Â Â Â Â -2.25Â Â Â Â Â Â -0.69%
Oats Sep 2015Â Â Â Â Â Â 321.75Â Â Â Â Â Â -7.5Â Â Â Â Â Â -2.28%
Wheat Dec 2014Â Â Â Â Â Â 537.75Â Â Â Â Â Â -11.25Â Â Â Â Â Â -2.05%
Wheat Mar 2015Â Â Â Â Â Â 541Â Â Â Â Â Â -10Â Â Â Â Â Â -1.81%
Wheat May 2015Â Â Â Â Â Â 547.25Â Â Â Â Â Â -10.5Â Â Â Â Â Â -1.88%
Wheat Jul 2015Â Â Â Â Â Â 553.5Â Â Â Â Â Â -10.5Â Â Â Â Â Â -1.86%
Wheat Sep 2015Â Â Â Â Â Â 562.25Â Â Â Â Â Â -10.75Â Â Â Â Â Â -1.88%
Minneapolis
Spring Wheat Dec 2014Â Â Â Â Â Â 571.5Â Â Â Â Â Â -7Â Â Â Â Â Â -1.21%
Spring Wheat Mar 2015Â Â Â Â Â Â 578Â Â Â Â Â Â -8.75Â Â Â Â Â Â -1.49%
Spring Wheat May 2015Â Â Â Â Â Â 586.5Â Â Â Â Â Â -8.75Â Â Â Â Â Â -1.47%
Spring Wheat Jul 2015Â Â Â Â Â Â 594.5Â Â Â Â Â Â -8.75Â Â Â Â Â Â -1.45%
Spring Wheat Sep 2015Â Â Â Â Â Â 602.75Â Â Â Â Â Â -9Â Â Â Â Â Â -1.47%
Kansas City
Hard Red Wheat Dec 2014Â Â Â Â Â Â 586.25Â Â Â Â Â Â -7.25Â Â Â Â Â Â -1.22%
Hard Red Wheat Mar 2015Â Â Â Â Â Â 589.25Â Â Â Â Â Â -7.25Â Â Â Â Â Â -1.22%
Hard Red Wheat May 2015Â Â Â Â Â Â 591.75Â Â Â Â Â Â -8.25Â Â Â Â Â Â -1.38%
Hard Red Wheat Jul 2015Â Â Â Â Â Â 592.5Â Â Â Â Â Â -8Â Â Â Â Â Â -1.33%
Hard Red Wheat Sep 2015Â Â Â Â Â Â 603.75Â Â Â Â Â Â -8.25Â Â Â Â Â Â -1.35%
