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Futures markets

ICE Canada Morning Comment: Canola pulls back with rapeseed, soy complex

Support from palm oil, crude oil

By GFM Network News January 6, 2022

WINNIPEG, Jan. 6 (MarketsFarm) – Intercontinental Exchange (ICE) canola futures were mixed on Thursday morning, having come away from larger declines in the overnight session. Weakness in European rapeseed, as well as the Chicago soy complex weighed on canola values. Those declines were tempered by gains in Malaysian palm oil. Significant upticks in global crude

ICE March 2022 canola (candlesticks) with Bollinger bands (20,2). (Barchart)

ICE weekly outlook: Canola strength shows no signs of fading

By GFM Network News, Phil Franz-Warkentin January 6, 2022

MarketsFarm — ICE Futures canola contracts started the new year on a firm footing, with little sign that the ongoing strength will end anytime soon. “Is canola expensive? Yes, but everything is expensive,” said analyst Mike Jubinville of MarketsFarm. While canola may look overpriced by some metrics, he noted the high prices were necessary to

File photo of a soybean field in Argentina. (Federico Weyland/iStock/Getty Images)

Crops, Markets, Weather

CBOT weekly outlook: South American dryness main source of support

By GFM Network News, Glen Hallick - MarketsFarm January 6, 2022

MarketsFarm — After corn and the soy complex on the Chicago Board of Trade shot up on Tuesday following the fats and oils as well as the crushing reports from the U.S. Department of Agriculture (USDA), one trader said he isn’t expecting any surprises to come out of USDA’s supply and demand estimates or grain

CME February 2022 live cattle (candlesticks) with 20-, 50- and 100-day moving averages (pink, brown and black lines). (Barchart)

Livestock, Markets

U.S. livestock: CME live cattle down on lagging slaughter rates

Lighter supplies support lean hog futures

By Christopher Walljasper, GFM Network News January 5, 2022

Chicago | Reuters — Chicago Mercantile Exchange live cattle futures eased for a fifth consecutive session on Wednesday, pressured by lagging slaughterhouse production, analysts said. “We’re just not processing cattle fast enough. Some of the supply chain bottle necks that have affected the cattle market up to this point, they still remain in play,” said

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

U.S. grains: Soybeans up with session peak highest since July

Corn, wheat ease

By Christopher Walljasper, GFM Network News January 5, 2022

Chicago | Reuters — Chicago soybeans ended stronger on Wednesday after trading both sides of even and hitting the highest in nearly five months, supported by extreme weather in South America that could result in yield losses. Corn eased after also rallying on South American weather risks, while wheat followed. The most-active soybean contract on

Currency markets

Canadian Financial Close: Loonie slips, TSX tumbles

By GFM Network News January 5, 2022

WINNIPEG – The Canadian dollar took a step down on Wednesday. The loonie was at US$0.7863 or US$1=C$1.2717 on Wednesday, down from Tuesday’s close of US$0.7869 or US$1=C$1.2708. The United States Dollar Index was down 0.07 of a point to 96.19. Minutes from the U.S. Federal Reserve’s Dec. 14 and 15 meeting released earlier today

Futures markets

North American Grain/Oilseed Review: Canola firm, but well off session highs

By GFM Network News January 5, 2022

By Phil Franz-Warkentin, MarketsFarm WINNIPEG, Jan. 5 (MarketsFarm) – The ICE Futures canola market held onto small gains on Wednesday, but settled well off its highs for the day after profit-taking came forward to weigh on values. Spillover buying interest from soybeans and soyoil at the Chicago Board of Trade provided support, with European rapeseed

Futures markets

ICE canola near highs at midday Wednesday

By GFM Network News January 5, 2022

By Phil Franz-Warkentin, MarketsFarm WINNIPEG, Jan. 5 (MarketsFarm) – The ICE Futures canola market was stronger at midday Wednesday, holding near contract highs as the underlying fundamentals of tight supplies and the need to ration demand remained supportive. Spillover buying interest from soybeans and soyoil at the Chicago Board of Trade added to the firmer

Futures markets

Global Markets: Kazakhstan declares state of emergency

By GFM Network News January 5, 2022

WINNIPEG, Jan. 5 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally. – Kazakhstan has declared a state of emergency as protests over fuel price increases spread across the country. Thousands of demonstrators marching in Almaty, Kazakhstan’s largest city were countered by police firing tear gas and stun

Currency markets

Canadian Dollar and Business Outlook: Loonie steady, oil continues to rise

By GFM Network News January 5, 2022

WINNIPEG – The Canadian dollar is holding steady for the most part on Wednesday morning. As of 8:38 a.m. CST on Wednesday, the loonie was at US$0.7868 or US$1=C$1.2710, compared to Tuesday’s close of US$0.7869 or US$1=C$1.2708. The United States Dollar Index dropped 0.31 of a point to 95.95. The U.S. Labor Department reported on