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Global Markets: Kazakh president issues ‘shoot to kill’ order

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By MarketsFarm WINNIPEG, Jan. 7 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally. – Kazakhstan President Kassym-Jomart Tokayev has reportedly authorized law enforcement in the country to ‘shoot to kill’ protestors in an effort to quell unrest in the former Soviet republic. In a televised address, Tokayev
Futures markets

ICE Canada Morning Comment: Canola benefitting from hike in rapeseed

Double-digits gains in old crop canola

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WINNIPEG, Jan. 7 (MarketsFarm) – Intercontinental Exchange (ICE) canola futures were on the rise Friday morning, with double digit increases for the old crop contracts. Support was coming from a strong spike in the front months of European rapeseed, plus small gains in Chicago soyoil. Losses in Chicago soybeans and soymeal, along with Malaysian palm
CBOT March 2022 soybeans (candlesticks) with 20-, 50- and 100-day moving averages (yellow, green and black lines). (Barchart)
Crops, Markets, Weather

U.S. grains: Soybeans ease after weather rally

Corn firms, wheat slips to nearly three-month low

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Chicago | Reuters — Chicago soybean futures dipped on Thursday as broad selling in financial markets countered weather concerns in South America that had pushed prices to a five-month high. Corn ended just above even, paring losses as private estimates of South American crops fell further due to hot, dry conditions in the region. Wheat
CME February 2022 live cattle (candlesticks) with 20-, 50- and 100-day moving averages (pink, red and black lines). (Barchart)
Livestock, Markets

U.S. livestock: CME live cattle futures firm

Cash cattle prices provide support; lean hogs also firm with cash index

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Chicago | Reuters — Chicago Mercantile Exchange live cattle futures moved higher on Thursday, supported by cash cattle prices in the northern U.S. Plains, analysts said. “We’ve been under some pressure recently, but the cash trade was still at $138 to $140,” said Doug Houghton, technical analyst at Brock Capital Management (all figures US$). “That’s
Currency markets

Canadian Financial Close: Oil jumps, gold falls

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WINNIPEG – The Canadian dollar continued its recent downturn on Thursday. The loonie was at US$0.7849 or US$1=C$1.2741 on Thursday, down from Wednesday’s close of US$0.7863 or US$1=C$1.2717. The United States Dollar Index was down 0.11 of a point to 96.29. The U.S. 2-Year Treasury Yield hit 0.88 per cent on Thursday, its highest level
Futures markets

ICE canola turning higher after early losses

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By Phil Franz-Warkentin, MarketsFarm WINNIPEG, Jan. 6 (MarketsFarm) – The ICE Futures canola market was firmer at midday Thursday, recovering from earlier losses in choppy activity. Chicago Board of Trade soybeans and soyoil futures were lower at midday, putting some pressure on the Canadian oilseed. European rapeseed was also down overnight. However, Malaysian palm oil
The loonie’s value against the U.S. dollar climbed to around 83 U.S. cents over 2021, but was set to close out the year near where it started, around 77.
Grain Markets, Markets

Prairies’ drought outweighed COVID among market movers

Canola speculators still held large net long positions heading into 2022

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The Prairie drought was the major market-moving story of the year for Canada’s grains and oilseeds in 2021, even supplanting the ongoing worldwide pandemic as the primary topic of discourse for much of the year. While the uncertainty of the global reaction to new variants will keep COVID-19 as an influence in the financial markets for some time,

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