Markets & Farming Articles - Manitoba Co-operator

Canadian Dollar and Business Outlook: Loonie steady, crude oil rises

By GFM Network News March 23, 2022

WINNIPEG – The Canadian dollar stayed mostly steady on Wednesday as it approaches the 80 United States cent mark. As of 8:42 a.m. CDT, the loonie was at US$0.7943 or US$1=C$1.2590, compared to US$0.7944 or US$1=C$1.2588 on Tuesday. The U.S. Dollar Index was up 0.32 of a point at 98.82. Benchmark crude oil prices were

Futures markets

ICE canola still climbing higher

By GFM Network News March 23, 2022

WINNIPEG – The ICE Futures canola market was stronger Wednesday morning, hitting fresh contract highs in a continuation of Tuesday’s rally. Gains in outside markets provided spillover support, with crude oil, Chicago Board of Trade soyoil and Malaysian palm oil up as well. European rapeseed futures were at contract highs and trading at a sizeable

Green lentils. (Alexey Shipilov/iStock/Getty Images)

Crops, Markets

Pulse weekly outlook: Lentil prices expected to hold

By GFM Network News, Glen Hallick - MarketsFarm March 22, 2022

MarketsFarm — Prices for green and red lentils are very likely to remain relatively steady, according to Marlene Boersch of Mercantile Consulting Venture Inc. in Winnipeg. “Inventories are relatively low and there are not a lot of people to go to for green lentils in Canada,” she said. “From a buyer’s point of view, they’re

NYMEX May 2022 West Texas Intermediate (WTI) crude oil (candlesticks) with Bollinger bands (20,2). (Barchart)

Markets

Fuel prices may remain high beyond Russian invasion, expert says

By Adam Peleshaty, GFM Network News March 22, 2022

MarketsFarm — The decision by the U.S. to halt the import of Russian petroleum products due to the country’s invasion of Ukraine created sticker shock at the pumps in North America — but an end to that invasion would not necessarily mean an end to high fuel prices. On March 15, the average price of

CME June 2022 lean hogs (candlesticks) with 10-, 20- and 50-day moving averages (pink, brown and dark red lines). (Barchart)

Livestock, Markets

U.S. livestock: CME hog futures mixed

CBOT cattle futures weak

By GFM Network News, Reuters March 22, 2022

Chicago | Reuters — Chicago Mercantile Exchange hog futures were mixed on Tuesday, with deferred contracts firming on expectations that supplies will remain tight until the summer, traders said. The front-month hog contract eased on follow-through selling after hitting technical resistance and closing well below its peak on Monday. Cattle futures also were weaker, pressured

CBOT May 2022 soybeans (candlesticks) with 20-, 50- and 100-day moving averages (yellow, dark green and black lines). (Barchart)

Crops, Markets

U.S. grains: Soy futures rise on strong exports

Corn, wheat futures mixed

By GFM Network News, Mark Weinraub March 22, 2022

Chicago | Reuters — U.S. soybean futures firmed on Tuesday on signs that export demand for U.S. supplies remained firm even as South American farmers harvest their crops. Corn and wheat futures were mixed, with nearby contracts easing and deferred offerings rising. “It is really a mixed bag out here,” said Mark Gold, managing partner

Currency markets

Canadian Financial Close: Loonie holds its own

Dollar firm after small losses in crude oil

By GFM Network News March 22, 2022

Compiled by Glen Hallick, MarketsFarm WINNIPEG, March 22 (MarketsFarm) – The Canadian dollar was relatively steady on Tuesday, managing to fend a decline in crude oil prices. The loonie closed at US$0.7944 or US$1=C$1.2588, compared to Monday’s close of US$0.7941 or US$1=C$1.2593. Prime Minister Justin Trudeau shored up the governing Liberals’ hold on federal power

Futures markets

North American Grain/Oilseed Review: Canola rallies sharply higher

By GFM Network News March 22, 2022

By Phil Franz-Warkentin, MarketsFarm WINNIPEG, March 22 (MarketsFarm) – The ICE Futures canola market climbed sharply on Tuesday, setting fresh contract highs in the process as speculative stops were hit on the way up. Gains in Chicago Board of Trade soyoil and European rapeseed futures provided spillover support for the Canadian oilseed. Tight old crop

“We think that the way wool has been treated in this country in the last few decades is a tragedy.” – Matthew Rowe, Canadian Wool Council.

Markets, News

Funding announced to revive wool market

The Canadian Wool Council hopes to set a new direction for the natural fibre

By Alexis Stockford March 22, 2022

The Canadian Wool Council is seeking more visibility for its wares and recently received almost $150,000 to make that happen. Agriculture and Agri-Food Canada (AAFC) announced the funding in late February, linking the money to development of environmentally sustainable textiles. Why it matters: Meat rather than wool is the main focus of Canada’s sheep sector

Fuelled by the Ukraine crisis, wheat prices in China recently soared to a record on existing domestic supply worries.

Markets, News

Chinese winter wheat condition could be worst in history

Grim assessment comes from the country’s agriculture minister and raises many concerns

By Hallie Gu March 22, 2022

Reuters – The condition of China’s winter wheat crop could be the “worst in history,” the agriculture minister said recently, raising concerns about grain supplies in the world’s biggest wheat consumer. Speaking to reporters on the sidelines of the country’s annual parliament meeting, Minister of Agriculture and Rural Affairs Tang Renjian said that rare heavy

Daily Network News

Southern California honeybees show resistance to varroa mites

Pulse Weekly: SaskPulse optimistic despite input, crop price concerns

Canadian aquaculture should be classed as agriculture, industry groups say