It was a slightly down day for most crop futures Monday, but wheat contracts took a significant knock down.
While soybean and corn futuresfell only a few cents per bushel, Chicago and Kansas May wheat contracts fell by about 10 cents. Minneapolis spring wheat hung on a little better, falling about five cents.
Canola futures fell five to seven Canadian cents per bushel.
U.S. wheat exports continue to be weak.
Also, growing conditions for fall seeded wheat around the world are good, providing little to alleviate the feeling that supply will continue ample. If northern hemisphere crops come out with little winter kill and good spring conditions it will become even harder to reduce the ample stocks around the world.
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General crop market weakness was encouraged by continuing favourable weather in South America, allowing for good soybean harvesting and raising hopes that corn planting will go well.
Brazil’s soybean harvest is well ahead of last year’s pace.
U.S. soybean weekly exports were weak, falling behind expectations and recent projections.
Crops were among the weakest part of the commodities complex, with only softs beating grains as the biggest losers on the day.
Oil was slightly up Monday. Meats recovered a bit.
Much attention is on Tuesday’s speech by U.S. President Donald Trump, who might ask for money for stimulative infrastructure spending and also offer tax cuts. Any major new spending or significant tax cuts would likely boost demand for commodities, as economic activity grows.
Light crude oil nearby futures in New York were up six cents to US$54.05 per barrel.
The Canadian dollar at noon was US76.33 cents, up slightly from 76.31 cents the previous trading day. The U.S. dollar at noon was C$1.3101.
The Dow Jones Industrial Average rose for a 12th straight session, closing up 15.68 points, or 0.08 percent, at 20,837.44.
The S&P 500 gained 2.39 points, or 0.10 percent, to 2,369.73 and the Nasdaq Composite added 16.59 points, or 0.28 percent, to 5,861.90.
Weaker gold and financial company shares weighed down the Toronto market.
The Toronto Stock Exchange’s S&P/TSX composite index closed down 69.96 points, or 0.45 percent, at 15,463.51.
Winnipeg ICE Futures Canada dollars per tonne
Canola Mar 2017 512.00 -3.30 -0.64%
Canola May 2017 514.40 -2.30 -0.45%
Canola Jul 2017 517.70 -2.70 -0.52%
Canola Nov 2017 495.20 -2.60 -0.52%
Canola Jan 2018 500.80 -2.60 -0.52%
Milling Wheat Mar 2017 228.00 -3.00 -1.30%
Milling Wheat May 2017 233.00 -3.00 -1.27%
Milling Wheat Jul 2017 235.00 -3.00 -1.26%
Durum Wheat Mar 2017 279.00 unch 0.00%
Durum Wheat May 2017 282.00 unch 0.00%
Durum Wheat Jul 2017 281.00 unch 0.00%
Barley Mar 2017 135.00 unch 0.00%
Barley May 2017 137.00 unch 0.00%
Barley Jul 2017 138.00 unch 0.00%
American crop prices in cents US/bushel, soybean meal in $US/short ton, soy oil in cents US/pound
Chicago
Soybeans Mar 2017 1011.00 -3.00 -0.30%
Soybeans May 2017 1022.00 -3.00 -0.29%
Soybeans Jul 2017 1031.00 -3.00 -0.29%
Soybeans Aug 2017 1030.50 -3.00 -0.29%
Soybeans Sep 2017 1017.00 -2.00 -0.20%
Soybeans Nov 2017 1006.25 -2.25 -0.22%
Soybean Meal Mar 2017 331.10 -0.70 -0.21%
Soybean Meal May 2017 335.60 -0.40 -0.12%
Soybean Meal Jul 2017 338.80 -0.40 -0.12%
Soybean Oil Mar 2017 32.35 -0.03 -0.09%
Soybean Oil May 2017 32.63 -0.03 -0.09%
Soybean Oil Jul 2017 32.91 -0.01 -0.03%
Corn Mar 2017 360.25 -4.25 -1.17%
Corn May 2017 368.25 -3.25 -0.87%
Corn Jul 2017 375.75 -3.25 -0.86%
Corn Sep 2017 382.00 -3.00 -0.78%
Corn Dec 2017 388.75 -2.75 -0.70%
Oats Mar 2017 249.50 -2.25 -0.89%
Oats May 2017 243.00 -7.00 -2.80%
Oats Jul 2017 241.75 -3.50 -1.43%
Oats Sep 2017 233.00 -10.75 -4.41%
Oats Dec 2017 235.50 -2.75 -1.15%
Wheat Mar 2017 418.75 -12.25 -2.84%
Wheat May 2017 438.75 -9.00 -2.01%
Wheat Jul 2017 453.25 -8.50 -1.84%
Wheat Sep 2017 468.50 -8.25 -1.73%
Wheat Dec 2017 487.50 -7.75 -1.56%
Minneapolis
Spring Wheat Mar 2017 535.00 -9.75 -1.79%
Spring Wheat May 2017 548.25 -5.00 -0.90%
Spring Wheat Jul 2017 554.00 -5.25 -0.94%
Spring Wheat Sep 2017 560.75 -4.00 -0.71%
Spring Wheat Dec 2017 571.00 -3.75 -0.65%
Kansas City
Hard Red Wheat Mar 2017 444.00 -9.50 -2.09%
Hard Red Wheat May 2017 457.00 -9.50 -2.04%
Hard Red Wheat Jul 2017 468.75 -9.50 -1.99%
Hard Red Wheat Sep 2017 483.00 -9.00 -1.83%
Hard Red Wheat Dec 2017 503.50 -7.50 -1.47%
Chicago livestock futures in US¢/pound (rounded to two decimal places)
Live Cattle (P) Feb 2017 125.38 +1.43 +1.15%
Live Cattle (P) Apr 2017 115.50 +0.40 +0.35%
Live Cattle (P) Jun 2017 105.62 +0.67 +0.64%
Feeder Cattle (P) Mar 2017 123.85 +1.70 +1.39%
Feeder Cattle (P) Apr 2017 123.55 +1.60 +1.31%
Feeder Cattle (P) May 2017 123.10 +1.40 +1.15%
Lean Hogs (P) Apr 2017 68.12 -0.03 -0.04%
Lean Hogs (P) May 2017 74.02 -0.03 -0.04%
Lean Hogs (P) Jun 2017 77.65 -0.25 -0.32%
