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CBOT July 2021 corn (candlesticks) with MGEX, CBOT and K.C. July 2021 wheat (green, black and orange lines). (Barchart)

U.S. grains: Corn, soy plunge on weather, broad commodities sell-off

CBOT wheat follows trend lower

Chicago | Reuters — U.S. corn and soybean futures fell sharply on Thursday, pressured by outlooks for rain and cooler temperatures in the Midwest crop belt, as well as spillover from broad-based selling in the commodities sector, analysts said. Wheat followed the weaker trend, with seasonal pressure noted from the U.S. winter wheat harvest. Chicago

CME August 2021 lean hogs (candlesticks) with 20-, 50- and 100-day moving averages (pink, brown and black lines) and August 2021 live cattle (dark red open/high/low/close). (Barchart)

U.S. livestock: Hogs limit down for second consecutive day

CME August cattle end lower

Chicago | Reuters — Chicago Mercantile Exchange (CME) lean hog futures fell by an exchange-imposed limit for a second consecutive session on Thursday as commodities declined broadly. Selling by index funds fueled losses in markets from hogs to cattle and corn, after the U.S. Federal Reserve signaled it might raise interest rates sooner than expected,

Canadian Financial Close: Loonie loses whole cent

WINNIPEG – The Canadian dollar was in a freefall on Thursday as its American counterpart reached a two-month high. The loonie was at US$0.8103 or US$1=C$1.2341 on Thursday, down from Wednesday’s close at US$0.8203 or US$1=C$1.2191. Meanwhile, the U.S. Dollar Index jumped 0.81 points at 91.94. United States Federal Reserve Chair Jerome Powell announced yesterday


Parts of southern Manitoba saw up to three inches of much-needed precipitation on June 8-9.

Weather pulling canola prices either way

The Chicago soy complex also provided lift as well as drag

As weather pandered to both sides of the markets this week, there wasn’t much change to canola values. There was something of a balancing act between dry conditions continuing to underpin values and significant rainfall on the Prairies providing pressure. For example, the November contract on June 4 closed at $763.60 per tonne, gaining nearly


ICE Midday: Canola hits limit down

WINNIPEG – The ICE Futures canola market suffered its largest losses of the week at midday Thursday as contracts had either hit or were approaching limit down. The July canola contract has also fallen below the C$800 per tonne mark. A Winnipeg-based trader stated that recent rains had brought downward pressure on the market, despite

Canadian dollar and business outlook

By MarketsFarm WINNIPEG, June 17 (MarketsFarm) – The Canadian dollar was weaker Thursday morning, pressured by broad strength in the United States dollar internationally. At 8:54 a.m. CDT Thursday morning, the Canadian dollar was at US$0.8126 or US$1=C$1.2307 which compares with Wednesday’s North American close of US$0.8203 or US$1=C$1.2191. The U.S. Federal Reserve took a

Global Markets: Federal Reserve could raise rates by 2023

WINNIPEG – The following is a glance at the news moving markets in Canada and globally. – United States Federal Reserve Chair Jerome Powell announced on Wednesday that while the key benchmark interest rate will remain close to zero, he mentioned there could be two interest-rate increases by the end of 2023. With inflation at


ICE Canada Morning Comment: Canola continues to tumble

Steep declines in soybeans, soyoil, rapeseed

By Glen Hallick, MarketsFarm WINNIPEG, June 17 (MarketsFarm) – Intercontinental Exchange (ICE) canola futures were weaker on Thursday morning, as bearish signals continued to drive down prices. Chicago soybeans and soyoil were in steep decline while soymeal incurred minor losses. There were sharp pull backs in European rapeseed as well, but those for Malaysian palm

A view of BHP’s potash mine project north of Jansen, Sask. (BHP.com)

BHP delaying decision on Saskatchewan potash project

Jansen mine decision to be delayed by a few months

Melbourne | Reuters — BHP Group expects to present its board with a decision on whether to proceed with its Jansen potash project in Saskatchewan in a few months’ time — rather than mid-year — after choosing between two port options, an executive said on Thursday. The world’s biggest miner has estimated the project at