North American Grain/Oilseed Review: Canola ends mostly lower

By Phil Franz-Warkentin, MarketsFarm WINNIPEG, Jan. 18 (MarketsFarm) – The ICE Futures canola market was mixed on Tuesday, with sharp losses in the most active front months and a firmer tone in the lightly-traded new crop contracts. Chart-based selling was a feature as speculators continued to book profits on their large long positions. Improving crop

Employees working at a cargo ship at Tiplam terminal in Santos, Brazil in 2017.

Brazil unable to unload wheat imports as tax collectors protest

Brazil has been unable to promptly unload wheat shipments at its key Santos port as agricultural tax collectors work to rule in a campaign for higher wages, local association Abitrigo said on Jan. 6. Abitrigo’s head Rubens Barbosa told Reuters that so far two vessels carrying imported wheat had their unloading operations delayed due to


ICE canola continues lower at midday Tuesday

By Phil Franz-Warkentin, MarketsFarm WINNIPEG, Jan. 18 (MarketsFarm) – The ICE Futures canola market was mostly lower at midday Tuesday, with only the new crop November contract holding onto small gains. The nearby March contract has lost over C$60 per tonne over the past week, with speculative long-liquidation keeping the path of least resistance pointed

Canadian dollar and business outlook

By MarketsFarm WINNIPEG, Jan. 17 (MarketsFarm) – The Canadian dollar was holding steady Tuesday morning amid conflicting outside influences. At 8:53 a.m. CST Tuesday morning the Canadian dollar was at US$0.7986 or US$1=C$1.2522 which compares with Monday’s close of US$0.7987 or US$1=C$1.2520. Broad strength in the United States dollar internationally put some pressure on the


Global Markets: China claims Omicron case came from Canada

WINNIPEG – The following is a glance at the news moving markets in Canada and globally. – Canadian health officials are disputing China’s claim that the country’s first discovered case of the Omicron COVID-19 variant was linked to mail from Toronto. Chinese health authorities said on Monday that a case of Omicron in Beijing may

ICE Canada Morning Comment: Canola continues downward

South American rains push down soy complex

WINNIPEG, Jan. 18 (MarketsFarm) – Intercontinental Exchange (ICE) canola futures were lower Tuesday morning, with the larger losses in the old crop months. Pressure was coming from declines in the Chicago soy complex, which resumed trading overnight after the Martin Luther King holiday. Losses were caused by rains in Brazil and Argentina that have been


(Photo courtesy Canada Beef Inc.)

Klassen: Feeder market remains firm

Compared to last week, western Canadian yearling prices were steady to $3 lower on average; calves were relatively unchanged but limited numbers were on offer. Strength in the Canadian dollar appeared to temper demand from south of the border in the 750-plus-lb. weight categories. Last week was the first full week of sales in both

Canadian Financial Close: Loonie gets a bit closer to 80 U.S. cents

Gains in home, manufacturing sales

Compiled by Glen Hallick, MarketsFarm WINNIPEG, Jan. 17 (MarketsFarm) – The Canadian dollar was slightly higher on Monday, on strength of domestic data and increases in crude oil prices. The loonie closed at US$0.7987 or US$1=C$1.2520, compared to Friday’s close of US$0.7971 or US$1=C$1.2545. The Canadian Real Estate Association reported that home prices vaulted 26.6


North American Grain/Oilseed Review: Canola weakens with chart selling

By Phil Franz-Warkentin, MarketsFarm WINNIPEG, Jan. 17 (MarketsFarm) – The ICE Futures canola market was weaker on Monday, seeing some follow-through speculative selling after last week’s break below some key technical support levels. Improving weather conditions for soybeans in South America, with some much needed rains in the forecast, were bearish for the oilseeds in

ICE canola weaker at midday in thin trade

By Phil Franz-Warkentin, MarketsFarm WINNIPEG, Jan. 17 (MarketsFarm) – The ICE Futures canola market was weaker at midday Monday, although activity was thin and choppy with markets in the United States closed for Martin Luther King Jr. Day. Damage was done from a chart standpoint last week, with the nearby March contract moving below some