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Canadian dollar and business outlook

By MarketsFarm WINNIPEG, Dec. 2 (MarketsFarm) – The Canadian dollar was steady on Wednesday.      At 8:40 CST Wednesday morning the Canadian dollar was at US$0.7725 or US$1=C$1.2944, which compares with Friday’s North American close of US$0.7721 or US$1=C$1.2952. Global stock indices were mixed on Wednesday morning following news that Merck & Co. sold its

Global Markets: National Bank of Canada posts Q4 gains

By MarketsFarm WINNIPEG, Dec. 2 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally. Montreal-based National Bank of Canada reported fourth quarter profits totalling C$492 million. Revenues totalled C$2 billion for the quarter, compared to C$1.9 billion during the same quarter in 2019. United States employers added fewer

ICE canola down Wednesday morning

By Phil Franz-Warkentin, MarketsFarm WINNIPEG, Dec. 2 (MarketsFarm) – The ICE Futures canola market was weaker Wednesday morning, backing away from major chart resistance as losses in the Chicago Board of Trade soy complex weighed on values Beneficial rains in South America accounted for some of the selling pressure in the soy market that spilled

AgriStability proposal could have hidden cost, Pedersen warns

Manitoba's ag minister warns Bibeau's plan may hurt crop insurance, AgriInvest funding

Ottawa’s proposal for an improved AgriStability program could give farmers short-term gain for long-term pain, Manitoba’s agriculture minister Blaine Pederson warns. At the online federal-provincial-territorial agriculture ministers’ meeting on Friday, federal Agriculture Minister Marie Claude Bibeau proposed dropping AgriStability’s maximum reference margin, and increasing the compensation rate from 70 to 80 per cent retroactively this

U.S. livestock: Live cattle strengthen on demand outlook

Export demand supports hog futures, for now

Chicago | Reuters — Live cattle futures rose on Tuesday, supported by strong U.S. consumer demand and high wholesale beef prices, traders said. Chicago Mercantile Exchange February live cattle futures added 0.3 cent to 113.175 cents/lb. (all figures US$). CME cattle futures have been steady in recent weeks, recovering from a slump in late October

U.S. border restrictions to last a long time yet, Trudeau says

COVID would need to be 'significantly more under control'

Ottawa | Reuters — Canada will not agree to lifting a ban on non-essential travel with the United States until the coronavirus outbreak is significantly under control around the world, Prime Minister Justin Trudeau said on Tuesday. Trudeau’s comments were a clear indication that the border restrictions will last well into 2021. The two neighbours

U.S. grains: Wheat futures hit two-month low

Soybean, corn futures also decline

Chicago | Reuters — Chicago wheat futures hit a two-month low on Tuesday, pressured by improving U.S. winter wheat crop ratings, strong export competition and rising estimates of Australia’s harvest, analysts said. Corn and soybean futures also sagged, retreating from early strength as traders focused on forecasts for welcome rains in South American crop regions.

Grain Farmers of Ontario to wind down wheat pool

Programs to end after 2020 marketing year

The remnants of Ontario farmers’ former single wheat marketing desk are set to disappear at the end of the 2020 crop marketing year. Grain Farmers of Ontario, which inherited the pooling system from one of its heritage organizations, the Ontario Wheat Producers’ Marketing Board, announced Tuesday it will wind down its wheat pool and its

Canadian Financial Close: Dollar stronger on Tuesday

By MarketsFarm WINNIPEG, Dec. 1 (MarketsFarm) – The Canadian dollar was slightly stronger at Tuesday’s close, spurred by gains in global stock indices. The dollar finished the day at US$0.7721 or US$1=C$1.2952, compared to Monday when it closed at US$0.7713 or US$1=C$1.2965. Major stocks hit record highs, led by gains in technology and communications industries.