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North American Grain/Oilseed Review: Canola takes back losses

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By Phil Franz-Warkentin, MarketsFarm WINNIPEG, March 24 (MarketsFarm) – The ICE Futures canola market was stronger on Thursday, recovering most of Wednesday’s losses amid ideas the selloff was overdone. Tight old crop supplies and solid demand from domestic crushers provided underlying support, with speculative positioning behind much of the activity. The gains in canola came
When seeders roll in a few short weeks, farmers will be seeding into a volatile market and weather uncertainty.
Markets, News

Current market picture hangs in the balance

It’s an even murkier picture than usual this spring for farmers

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Market analyst Bruce Burnett says he’s officially in uncharted territory. As director of weather and crops information for MarketsFarm (a division of Glacier FarmMedia) and an experienced market analyst, he’s used to seeing the effect of war on grain markets. But this time, things are different, as Ukraine and Russia square off in what is
Wheat in a field near the village of Hrebeni in Ukraine’s Kyiv region on July 17, 2020.
Grain Markets, Markets

Canola’s wild ride ends up near where it started

Oilseeds are caught up in crude oil values’ ebb and flow

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Despite all the volatility in the markets over the last seven days, ICE Futures canola values ended up pretty much where they started. On March 10, the nearby May canola contract closed at $1,130.70 per tonne; a week later it finished at $1,130.20. It was a similar story for the July contract, at $1,096.40 per
Futures markets

ICE canola correcting higher at midday

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By Phil Franz-Warkentin, MarketsFarm WINNIPEG, March 24 – (MarketsFarm) – The ICE Futures canola market was stronger at midday Thursday, taking back some of Wednesday’s losses. Canola hit contract highs on Wednesday before crashing in a profit-taking correction. While overbought sentiment contributed to the selloff, a trader noted that the correction was also likely overdone
Global markets

Global Markets: NATO holds emergency meeting

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WINNIPEG – The following is a glance at the news moving markets in Canada and globally. – On the one month anniversary of the start of Russia’s invasion of Ukraine, NATO leaders held an emergency meeting in Brussels, which included a plea from Ukrainian leader Volodymyr Zelensky for unrestricted military assistance from the alliance and
Currency markets

Canadian dollar and business outlook

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By MarketsFarm WINNIPEG, March 24 (MarketsFarm) – The Canadian dollar was holding steady relative to its United States counterpart Thursday morning. At 8:41 a.m. CDT Thursday morning the Canadian dollar was at US$0.7953 or US$1=C$1.2574, which compares with Wednesday’s close of US$0.7955 or US$1=C$1.2571. Statistics Canada reported that about 633,000 Canadians received regular Employment Insurance
Futures markets

ICE Canada Morning Comment: Canola builds on overnight increases

Prices turn around after yesterday's declines

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By Glen Hallick, MarketsFarm WINNIPEG, March 24 (MarketsFarm) – Intercontinental Exchange (ICE) canola futures were higher on Thursday morning, building on gains made during the overnight session after yesterday’s pull back. Support came from the front months of European rapeseed, Chicago soymeal, as well as tight canola supplies. Losses in Chicago soybeans and soyoil along
CME June 2022 lean hogs (candlesticks) with Bollinger bands (20,2). (Barchart)
Livestock, Markets

U.S. livestock: CME hogs rally on pork price, cash market strength

Cattle futures also up on day

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Chicago | Reuters — Chicago Mercantile Exchange hog futures rallied on Wednesday, with the most-active June contract jumping 2.4 per cent and hitting an all-time high, supported by rising pork prices and strength in the cash market. CME April lean hog futures rose 2.3 cents to end at 102.55 cents/lb. (all figures US$). Most-active June
ICE May 2022 canola (candlesticks, right column) with 20-, 50- and 100-day moving averages (yellow, green and black lines) and NYMEX May 2022 WTI crude oil (grey line, left column). (Barchart)
Crops, Markets

ICE weekly outlook: Strong canola market to ‘see both sides of rainbow’

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MarketsFarm — ICE Futures canola contracts climbed to their highest levels ever during the week ended Wednesday before running into some profit-taking resistance. Its general uptrend remains intact for the time being, but a downturn is also inevitable. The nearby May canola contract hit a session high of $1,177.80 per tonne on Wednesday, before backing
Currency markets

Canadian Financial Close: Loonie up, crude oil rises

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WINNIPEG – The Canadian dollar made a slight gain on Wednesday towards the 80 United States cent mark. The loonie closed at US$0.7955 or US$1=C$1.2571, up from Tuesday’s close of US$0.7944 or US$1=C$1.2588. The United States Dollar Index was up 0.13 of a point to 98.62. Crude oil prices continued to rise due to the

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