Canola futures closed mixed but Chicago wheat hit a six month high on worries about Russia possibly restricting wheat exports.
Trade sources told Reuters today that Russia’s Veterinary and Phytosanitary Surveillance Service has restricted grain export certificates for some countries.
The trade is riveted on Russia and how it will react to rapidly rising domestic wheat and flour prices as its currency plummets even after its central bank jacked up its key interest rate to 17 percent from 10.5 percent to defend the ruble.
Chicago soft wheat jumped as high as $6.39, the highest price since May 29 before settling at 6.23 ¼ , up 4 ¼ cents.
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Gains were limited by favourable moisture falling in U.S. winter wheat regions in recent days.
Canola futures barely moved. With January up $1.10 and March down 80 cents. The tight cash market supported prices, but that was offset by falling soybeans.
They fell as soymeal dropped more than 2.5 percent. Reuters said American soybean were encountering cheaper meal from South America. Also generally favourable growing weather in South American weighed down soybeans.
The weaker soybean price spilled over into corn. Profit taking after the four day rally also weighted on corn.
The recent rally was partly driven by hopes that China might soon approve Syngenta’s MIR 162 genetically modified corn variety. China has blocked American corn because it could contain the variety, which China has not approved.
Commercial interests in China would like access to cheap American corn, however, China’s government is not keen on importing grain while it is sitting on huge stockpiles of Chinese corn purchased at much higher prices.
Light crude oil nearby futures in New York rose two cents to US$55.93 per barrel.
The Canadian dollar at noon was US86.02 cents, up from 85.98 cents the previous trading day. The U.S. dollar at noon was C$1.1625.
The Toronto Stock Exchange’s S&P/TSX composite index unofficially closed up 156.38 points, or 1.14 percent, at 13,861.52. Talisman Energy Inc. shares soared 46 percent after it said it had an agreement for a sale to Spanish oil company Repsol for C$15.1 billion.
U.S. stocks fell for a third straight session in volatile trading.
The Dow Jones industrial average fell 111.9 points, or 0.65 percent, to 17,068.94, the S&P 500 lost 16.85 points, or 0.85 percent, to 1,972.78 and the Nasdaq Composite dropped 57.32 points, or 1.24 percent, to 4,547.83.
Winnipeg ICE Futures Canada dollars per tonne
Canola Jan 2015Â Â Â Â Â Â 441.10Â Â Â Â Â Â +1.10Â Â Â Â Â Â +0.25%
Canola Mar 2015Â Â Â Â Â Â 436.00Â Â Â Â Â Â -0.80Â Â Â Â Â Â -0.18%
Canola May 2015Â Â Â Â Â Â 435.20Â Â Â Â Â Â -1.30Â Â Â Â Â Â -0.30%
Canola Jul 2015Â Â Â Â Â Â 436.50Â Â Â Â Â Â -1.10Â Â Â Â Â Â -0.25%
Canola Nov 2015Â Â Â Â Â Â 433.20Â Â Â Â Â Â -0.50Â Â Â Â Â Â -0.12%
Milling Wheat Mar 2015      238.00      unch      0.00%
Milling Wheat May 2015Â Â Â Â Â Â 241.00Â Â Â Â Â Â +1.00Â Â Â Â Â Â +0.42%
Milling Wheat Jul 2015      243.00      unch      0.00%
Durum Wheat Mar 2015      357.50      unch      0.00%
Durum Wheat May 2015      357.50      unch      0.00%
Durum Wheat Jul 2015      357.50      unch      0.00%
Barley Mar 2015      177.00      unch      0.00%
Barley May 2015      179.00      unch      0.00%
Barley Jul 2015      181.00      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 1023.5Â Â Â Â Â Â -16Â Â Â Â Â Â -1.54%
Soybeans Mar 2015Â Â Â Â Â Â 1031.25Â Â Â Â Â Â -14.75Â Â Â Â Â Â -1.41%
Soybeans May 2015Â Â Â Â Â Â 1036.5Â Â Â Â Â Â -14.5Â Â Â Â Â Â -1.38%
Soybeans Jul 2015Â Â Â Â Â Â 1041.5Â Â Â Â Â Â -14.5Â Â Â Â Â Â -1.37%
Soybeans Aug 2015Â Â Â Â Â Â 1039.5Â Â Â Â Â Â -13.5Â Â Â Â Â Â -1.28%
Soybeans Sep 2015Â Â Â Â Â Â 1018.75Â Â Â Â Â Â -11.25Â Â Â Â Â Â -1.09%
Soybean Meal Jan 2015Â Â Â Â Â Â 356.6Â Â Â Â Â Â -8.8Â Â Â Â Â Â -2.41%
Soybean Meal Mar 2015Â Â Â Â Â Â 348.5Â Â Â Â Â Â -5.4Â Â Â Â Â Â -1.53%
Soybean Meal May 2015Â Â Â Â Â Â 343.3Â Â Â Â Â Â -4Â Â Â Â Â Â -1.15%
Soybean Oil Jan 2015Â Â Â Â Â Â 31.77Â Â Â Â Â Â -0.5Â Â Â Â Â Â -1.55%
Soybean Oil Mar 2015Â Â Â Â Â Â 31.99Â Â Â Â Â Â -0.47Â Â Â Â Â Â -1.45%
Soybean Oil May 2015Â Â Â Â Â Â 32.22Â Â Â Â Â Â -0.45Â Â Â Â Â Â -1.38%
Corn Mar 2015Â Â Â Â Â Â 406Â Â Â Â Â Â -2.5Â Â Â Â Â Â -0.61%
Corn May 2015Â Â Â Â Â Â 414.5Â Â Â Â Â Â -2Â Â Â Â Â Â -0.48%
Corn Jul 2015Â Â Â Â Â Â 421Â Â Â Â Â Â -1.5Â Â Â Â Â Â -0.36%
Corn Sep 2015Â Â Â Â Â Â 424Â Â Â Â Â Â -1.5Â Â Â Â Â Â -0.35%
Corn Dec 2015Â Â Â Â Â Â 430.75Â Â Â Â Â Â -2Â Â Â Â Â Â -0.46%
Oats Mar 2015Â Â Â Â Â Â 314Â Â Â Â Â Â +0.25Â Â Â Â Â Â +0.08%
Oats May 2015Â Â Â Â Â Â 317.75Â Â Â Â Â Â +0.5Â Â Â Â Â Â +0.16%
Oats Jul 2015Â Â Â Â Â Â 318.25Â Â Â Â Â Â -0.75Â Â Â Â Â Â -0.24%
Oats Sep 2015Â Â Â Â Â Â 317Â Â Â Â Â Â -0.5Â Â Â Â Â Â -0.16%
Oats Dec 2015Â Â Â Â Â Â 313.25Â Â Â Â Â Â +3.75Â Â Â Â Â Â +1.21%
Wheat Mar 2015Â Â Â Â Â Â 623.25Â Â Â Â Â Â +4.25Â Â Â Â Â Â +0.69%
Wheat May 2015Â Â Â Â Â Â 626.25Â Â Â Â Â Â +5Â Â Â Â Â Â +0.80%
Wheat Jul 2015Â Â Â Â Â Â 626Â Â Â Â Â Â +5.75Â Â Â Â Â Â +0.93%
Wheat Sep 2015Â Â Â Â Â Â 632.5Â Â Â Â Â Â +4.75Â Â Â Â Â Â +0.76%
Wheat Dec 2015Â Â Â Â Â Â 643Â Â Â Â Â Â +4.25Â Â Â Â Â Â +0.67%
Minneapolis
Spring Wheat Mar 2015Â Â Â Â Â Â 634.25Â Â Â Â Â Â +1.75Â Â Â Â Â Â +0.28%
Spring Wheat May 2015Â Â Â Â Â Â 639.5Â Â Â Â Â Â +1.75Â Â Â Â Â Â +0.27%
Spring Wheat Jul 2015Â Â Â Â Â Â 646.75Â Â Â Â Â Â +2.25Â Â Â Â Â Â +0.35%
Spring Wheat Sep 2015Â Â Â Â Â Â 652.75Â Â Â Â Â Â +2Â Â Â Â Â Â +0.31%
Spring Wheat Dec 2015Â Â Â Â Â Â 665Â Â Â Â Â Â +2.25Â Â Â Â Â Â +0.34%
Kansas City
Hard Red Wheat Mar 2015Â Â Â Â Â Â 654.75Â Â Â Â Â Â +7.75Â Â Â Â Â Â +1.20%
Hard Red Wheat May 2015Â Â Â Â Â Â 658Â Â Â Â Â Â +8.5Â Â Â Â Â Â +1.31%
Hard Red Wheat Jul 2015Â Â Â Â Â Â 660.5Â Â Â Â Â Â +7.25Â Â Â Â Â Â +1.11%
Hard Red Wheat Sep 2015Â Â Â Â Â Â 669.25Â Â Â Â Â Â +7Â Â Â Â Â Â +1.06%
Hard Red Wheat Dec 2015Â Â Â Â Â Â 682Â Â Â Â Â Â +6.25Â Â Â Â Â Â +0.92%
