Spring wheat futures started Wednesday higher but wound up little changed by the close as traders looked at rainfall amounts in the Dakotas and Canada.
July Minneapolis wheat closed down a half cent per bushel while December was up 1.5 cents.
They remained at the highest point in about two and half years.
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Volume in Minneapolis wheat futures hit a record high of 33,453 traded contracts on Tuesday, topping the previous record from January of 27,095 contracts, the exchange said in a release.
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Saskatchewan crop conditions vary, but good to fair overall
Crop conditions across Saskatchewan were variable in mid-July, but in good to fair condition overall, said the weekly provincial crop report.
Farmers and the trade will be assessing how much good the recent rain has done and whether the dryness to date has caused permanent yield damage, particularly in the U.S. where the crop is further ahead in maturity.
The potential decline in spring wheat production must also be placed in the context of fairly good wheat prospects in other parts of the world.
Canola futures drifted lower again on the improved moisture in the Prairies and the continued strength in the Canadian dollar.
Without the momentum from spring wheat, corn and soybeans also fell a little. Also, areas of the Midwest are expected to get rain over the next five days.
OUTSIDE MARKETS
The U.S. Federal Reserve raise its benchmark interest rate by a quarter of a percentage point today, as expected. It indicated it would lift rates one more time this year.
Light crude oil nearby futures in New York fell $1.73 to US$44.73 per barrel. U.S. data showed an unexpectedly large weekly build in U.S. gasoline inventories and International Energy Agency data projected a big increase in non-OPEC output in 2018.
The Canadian dollar in the afternoon was trading at US75.49 cents, little changed from US75.55 cents the previous trading day. The U.S. dollar was C$1.325.
Falling oil weighed down the Toronto Stock Exchange’s S&P/TSX composite index. It lost 209.62 points, ending the session down 1.36 percent at 15,170.13. The Dow Jones Industrial Average rose 46.09 points, or 0.22 percent, to 21,374.56, the S&P 500 lost 2.43 points, or 0.10 percent, to 2,437.92 and the Nasdaq Composite dropped 25.48 points, or 0.41 percent, to 6,194.89.
Winnipeg ICE Futures Canada dollars per tonne
Canola Jul 2017Â Â Â Â Â Â 509.60Â Â Â Â Â Â -1.60Â Â Â Â Â Â -0.31%
Canola Nov 2017 Â Â Â Â Â Â 481.80Â Â Â Â Â Â -2.70Â Â Â Â Â Â -0.56%
Canola Jan 2018 Â Â Â Â Â Â 487.60Â Â Â Â Â Â -2.60Â Â Â Â Â Â -0.53%
Canola Mar 2018 Â Â Â Â Â Â 493.10Â Â Â Â Â Â -2.60Â Â Â Â Â Â -0.52%
Canola May 2018       495.30      unch      0.00%
Milling Wheat Jul 2017Â Â Â Â Â Â 268.00Â Â Â Â Â Â -1.00Â Â Â Â Â Â -0.37%
Milling Wheat Oct 2017Â Â Â Â Â Â 262.00Â Â Â Â Â Â -1.00Â Â Â Â Â Â -0.38%
Milling Wheat Dec 2017Â Â Â Â Â Â 265.00Â Â Â Â Â Â -1.00Â Â Â Â Â Â -0.38%
Durum Wheat Jul 2017Â Â Â Â Â Â 278.00Â Â Â Â Â Â -1.00Â Â Â Â Â Â -0.36%
Durum Wheat Oct 2017Â Â Â Â Â Â 266.00Â Â Â Â Â Â -3.00Â Â Â Â Â Â -1.12%
Durum Wheat Dec 2017Â Â Â Â Â Â 270.00Â Â Â Â Â Â +1.00Â Â Â Â Â Â +0.37%
Barley Jul 2017      138.00      unch      0.00%
Barley Oct 2017      140.00      unch      0.00%
Barley Dec 2017      140.00      unch      0.00%
American crop prices in cents US/bushel, soybean meal in $US/short ton, soy oil in cents US/pound
Chicago
Soybeans Jul 2017Â Â Â Â Â Â 931.75Â Â Â Â Â Â -0.75Â Â Â Â Â Â -0.08%
Soybeans Aug 2017Â Â Â Â Â Â 935.25Â Â Â Â Â Â -1.00Â Â Â Â Â Â -0.11%
Soybeans Sep 2017Â Â Â Â Â Â 936.25Â Â Â Â Â Â -0.50Â Â Â Â Â Â -0.05%
Soybeans Nov 2017      939.00      unch      0.00%
Soybeans Jan 2018Â Â Â Â Â Â 946.50Â Â Â Â Â Â +0.25Â Â Â Â Â Â +0.03%
Soybeans Mar 2018Â Â Â Â Â Â 952.00Â Â Â Â Â Â +1.00Â Â Â Â Â Â +0.11%
Soybean Meal Jul 2017Â Â Â Â Â Â 301.80Â Â Â Â Â Â +0.30Â Â Â Â Â Â +0.10%
Soybean Meal Aug 2017Â Â Â Â Â Â 303.60Â Â Â Â Â Â +0.20Â Â Â Â Â Â +0.07%
Soybean Meal Sep 2017Â Â Â Â Â Â 305.20Â Â Â Â Â Â +0.20Â Â Â Â Â Â +0.07%
Soybean Oil Jul 2017      32.09      unch      0.00%
Soybean Oil Aug 2017      32.21      unch      0.00%
Soybean Oil Sep 2017      32.33      unch      0.00%
Corn Jul 2017Â Â Â Â Â Â 377.00Â Â Â Â Â Â -4.00Â Â Â Â Â Â -1.05%
Corn Sep 2017Â Â Â Â Â Â 385.00Â Â Â Â Â Â -3.50Â Â Â Â Â Â -0.90%
Corn Dec 2017Â Â Â Â Â Â 395.50Â Â Â Â Â Â -3.50Â Â Â Â Â Â -0.88%
Corn Mar 2018Â Â Â Â Â Â 404.75Â Â Â Â Â Â -3.50Â Â Â Â Â Â -0.86%
Corn May 2018Â Â Â Â Â Â 410.50Â Â Â Â Â Â -3.50Â Â Â Â Â Â -0.85%
Oats Jul 2017Â Â Â Â Â Â 255.50Â Â Â Â Â Â +2.25Â Â Â Â Â Â +0.89%
Oats Sep 2017Â Â Â Â Â Â 245.75Â Â Â Â Â Â +1.25Â Â Â Â Â Â +0.51%
Oats Dec 2017Â Â Â Â Â Â 242.75Â Â Â Â Â Â +2.00Â Â Â Â Â Â +0.83%
Oats Mar 2018Â Â Â Â Â Â 239.75Â Â Â Â Â Â +2.00Â Â Â Â Â Â +0.84%
Oats May 2018Â Â Â Â Â Â 240.25Â Â Â Â Â Â +2.00Â Â Â Â Â Â +0.84%
Wheat Jul 2017Â Â Â Â Â Â 443.00Â Â Â Â Â Â -2.00Â Â Â Â Â Â -0.45%
Wheat Sep 2017Â Â Â Â Â Â 457.25Â Â Â Â Â Â -2.00Â Â Â Â Â Â -0.44%
Wheat Dec 2017Â Â Â Â Â Â 479.00Â Â Â Â Â Â -1.75Â Â Â Â Â Â -0.36%
Wheat Mar 2018Â Â Â Â Â Â 496.75Â Â Â Â Â Â -1.50Â Â Â Â Â Â -0.30%
Wheat May 2018Â Â Â Â Â Â 509.00Â Â Â Â Â Â -1.75Â Â Â Â Â Â -0.34%
Minneapolis
Spring Wheat Jul 2017Â Â Â Â Â Â 627.50Â Â Â Â Â Â -0.50Â Â Â Â Â Â -0.08%
Spring Wheat Sep 2017      634.50      unch      0.00%
Spring Wheat Dec 2017Â Â Â Â Â Â 630.25Â Â Â Â Â Â +1.50Â Â Â Â Â Â +0.24%
Spring Wheat Mar 2018Â Â Â Â Â Â 628.50Â Â Â Â Â Â +3.25Â Â Â Â Â Â +0.52%
Spring Wheat May 2018Â Â Â Â Â Â 622.00Â Â Â Â Â Â +2.75Â Â Â Â Â Â +0.44%
Kansas City
Hard Red Wheat Jul 2017Â Â Â Â Â Â 457.50Â Â Â Â Â Â +0.50Â Â Â Â Â Â +0.11%
Hard Red Wheat Sep 2017Â Â Â Â Â Â 475.00Â Â Â Â Â Â +0.75Â Â Â Â Â Â +0.16%
Hard Red Wheat Dec 2017Â Â Â Â Â Â 499.25Â Â Â Â Â Â +1.00Â Â Â Â Â Â +0.20%
Hard Red Wheat Mar 2018Â Â Â Â Â Â 511.75Â Â Â Â Â Â +0.75Â Â Â Â Â Â +0.15%
Hard Red Wheat May 2018Â Â Â Â Â Â 523.00Â Â Â Â Â Â +1.25Â Â Â Â Â Â +0.24%
Chicago livestock futures in US¢/pound (rounded to two decimal places)
Live Cattle (P) Jun 2017Â Â Â Â Â Â 124.50Â Â Â Â Â Â -3.00Â Â Â Â Â Â -2.35%
Live Cattle (P) Aug 2017Â Â Â Â Â Â 117.88Â Â Â Â Â Â -3.00Â Â Â Â Â Â -2.48%
Live Cattle (P) Oct 2017Â Â Â Â Â Â 114.80Â Â Â Â Â Â -2.58Â Â Â Â Â Â -2.20%
Feeder Cattle (P) Aug 2017Â Â Â Â Â Â 146.12Â Â Â Â Â Â -3.83Â Â Â Â Â Â -2.55%
Feeder Cattle (P) Sep 2017Â Â Â Â Â Â 145.70Â Â Â Â Â Â -4.00Â Â Â Â Â Â -2.67%
Feeder Cattle (P) Oct 2017Â Â Â Â Â Â 144.10Â Â Â Â Â Â -4.22Â Â Â Â Â Â -2.85%
Lean Hogs (P) Jun 2017Â Â Â Â Â Â 83.00Â Â Â Â Â Â +0.22Â Â Â Â Â Â +0.27%
Lean Hogs (P) Jul 2017Â Â Â Â Â Â 82.58Â Â Â Â Â Â +0.30Â Â Â Â Â Â +0.36%
Lean Hogs (P) Aug 2017Â Â Â Â Â Â 80.40Â Â Â Â Â Â +0.18Â Â Â Â Â Â +0.22%
Canadian Dollar Jun 2017Â Â Â Â Â Â 0.7548Â Â Â Â Â Â -0.0009Â Â Â Â Â Â -0.12%
Crude Oil Jul 17Â Â Â Â Â Â 44.75Â Â Â Â Â Â -1.71Â Â Â Â Â Â -3.68%
