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Canadian Financial Close: C$ edges down ahead of weekend

WINNIPEG, May 29 (MarketsFarm) – The Canadian dollar was slightly weaker on Friday, seeing some consolidation to end the week after posting sharp gains relative to its United States counterpart in recent sessions. The Canadian dollar closed at US$0.7253 or US$1=C$1.3787, which compares with Thursday’s North American close of US$0.7265 or US$1=C$1.3764. Canada’s gross domestic

Demand returning to Manitoba cattle sales

An increased pace in beef processing helped lift cash prices and futures

Slaughter and feeder cattle prices in Manitoba have recovered slightly from prior lows caused by processing plant shutdowns due to COVID-19. “Between when they bottomed out two weeks ago and now, we’re probably seeing a spread of about 30 to 50 cents higher,” said Tyler Slawinski, an auctioneer for Ashern and Gladstone’s markets. Slawinski credited the uptick in

North American Grain and Oilseed Review: Canola lacks direction ahead of weekend

By Glen Hallick, MarketsFarm WINNIPEG, May 29 (MarketsFarm) – Intercontinental Exchange (ICE) Futures canola contracts traded either side of steady on Thursday, as a lower Canadian dollar was balanced off by little direction from edible oils. The Canadian dollar was 72.55 U.S. cents at mid-afternoon compared to Thursday’s close of 72.65. Chicago soyoil was virtually

ICE Canola Midday: Weaker loonie providing support for prices

Canola chopping around in the middle

By Glen Hallick, MarketsFarm WINNIPEG, May 29 (MarketsFarm) – ICE Futures canola contracts were steady to higher at midday Friday as the Canadian dollar retreats. A Winnipeg-based trader said the United States dollar is regaining lost strength, which is pushing down the loonie. The Canadian dollar was lower at 72.40 U.S. cents compared to Thursday’s

Global Markets: Canada’s GDP plummets

Protests in Minneapolis, Louisville

By MarketsFarm WINNIPEG, May 29 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally. – Statistics Canada reported on Friday that Canada’s gross domestic product shrank 8.2 per cent in the first quarter of 2020, due to the COVID-19 pandemic. That made for the largest decline in the


Canadian dollar and business outlook

By MarketsFarm WINNIPEG, May 29 (MarketsFarm) – The Canadian dollar was holding steady Friday morning, as investors digested the country’s latest inflation data. At 8:36 CDT Friday morning the Canadian dollar was at US$0.7262 or C$1.3770 which compares with Thursday’s North American close of US$0.7265 or C$1.376480. Canada’s economy shrunk at an annualized rate of

ICE canola futures: Prices slightly higher Friday morning

By Marlo Glass, MarketsFarm WINNIPEG, May 29 (MarketsFarm) – Intercontinental Exchange (ICE) futures canola contracts were steady to higher on Friday morning, recovering slightly from losses incurred earlier in the week. According to Saskatchewan’s most recent crop report, seeding in the province is 80 per cent complete. That’s behind the average pace of 92 per

U.S. livestock: Lean hogs lower on China tensions

CME live cattle futures mostly higher

Chicago | Reuters — U.S. lean hog futures dropped by as much as the daily trading limit on Thursday on worries that rising tensions between Washington and Beijing could limit U.S. pork purchases by China, the world’s largest pork consumer. Sino-U.S. relations have worsened as the White House has threatened China with sanctions over its


U.S. grains: Corn, wheat up as weather, currency spark short-covering

Hong Kong row tempers hopes of China demand for U.S. soy

Chicago | Reuters — U.S. corn futures jumped on Thursday to a five-week high as a weaker dollar, forecasts for hotter, drier weather in the Midwest corn belt and a further rebound in ethanol production triggered bargain buying and short-covering by managed funds. Wheat futures also rallied on expanding dryness across the Plains wheat belt

Canadian Financial Close: C$ firm, but lags world currencies

By MarketsFarm WINNIPEG, May 28 (MarketsFarm) – The Canadian dollar was firmer on Thursday, but lagged most other major world currencies relative to the United States dollar. The Canadian dollar closed at US$0.7265 or US$1=C$1.3764, which compares with Wednesday’s North American close of US$0.7257 or US$1=C$1.3780. Canada’s current account deficit widened to C$11.1 billion in