ICE Canola Midday: Little demand leads to lower prices

Losses tempered by higher crude, soy and palm oils

By Glen Hallick, MarketsFarm WINNIPEG, May 11 (MarketsFarm) – Canola futures on the Intercontinental Exchange (ICE) were easing back at midday Wednesday due to a lack of demand, according to a trader. Pressure on canola also came from declines in European rapeseed. However, sharp upticks in global crude oil prices lent to edible oils. That

File photo of a wheat field in India. (Sahil Ghosh/iStock/Getty Images)

India sells record 1.4 million tonnes of wheat in April

Sales surge on unavailability of Black Sea supplies

New Delhi | Reuters — India exported a record 1.4 million tonnes of wheat in April, four trade sources said, providing some relief to grain markets as buyers scramble for alternatives to Black Sea supplies hit hard by the war in Ukraine. April is the first month of the fiscal year. India, the world’s second



ICE canola mixed Wednesday morning

By Phil Franz-Warkentin, MarketsFarm WINNIPEG, May 11 (MarketsFarm) – The ICE Futures canola market was mixed Wednesday morning, with gains in the most actively traded months. Strength in crude oil was providing some spillover support for world vegetable oil markets, with advances in Chicago soyoil and Malaysian palm oil underpinning the Canadian oilseed as well.



(Photo courtesy Canada Beef Inc.)

Klassen: Feeder market starts seasonal rally

Ontario demand leads charge higher in Manitoba

Compared to last week, western Canadian yearling markets traded $4 to as much as $6 higher on average. Calf markets were sharply higher. Auction barns in Manitoba reported calf prices up $8-$10 on average with certain pockets up as much $15. Calf markets in Alberta and Saskatchewan were up a solid $5-$8 from week-ago levels.



CME June 2022 lean hogs (candlesticks) with 20- and 50-day moving averages (pink and brown lines) and CME lean hog index (black line). (Barchart)

U.S. livestock: CME lean hogs firm nearby

Outside markets pressure live cattle

Chicago | Reuters — CME’s nearby lean hog futures firmed on Tuesday, incentivizing producers to sell market-ready hogs rather than hold them for premiums later in the summer, analysts said. High futures prices “may have encouraged producers to take a little more risk,” said Altin Kalo, economist at Steiner Consulting Group. “When you’ve got such


CBOT July 2022 soybeans (candlesticks) with Bollinger bands (20,2). (Barchart)

U.S. grains: Chicago grains firm after planting-inspired decline

USDA world report eyed for gauge of Ukraine war, harvest prospects

Chicago | Reuters — Chicago soybean futures edged up on Tuesday, a day after sliding on macroeconomic worries, as traders assessed U.S. planting progress. Wheat traded near even, pressured by recent rainfall across the U.S. Great Plains, though global supply concerns underpinned the market, while corn traded near even, supported as the pace of planting

Canadian Financial Close: C$ hits 18-month low

By MarketsFarm WINNIPEG, May 10 (MarketsFarm) – The Canadian dollar was weaker on Tuesday, hitting its lowest level in 18 months relative to its United States counterpart. The Canadian dollar closed at US$0.7685 or US$1=C$1.3012 on Tuesday, which compares with Monday’s North American close of US$0.7714 or US$1=C$1.2964. A reduced appetite for risk in the