Markets & Farming Articles - Manitoba Co-operator

ICE Canola Midday: Prices pulling back from highs

CBOT soy complex stepping away from highs

By GFM Network News December 22, 2021

By Glen Hallick, MarketsFarm WINNIPEG, Dec. 22 (MarketsFarm) – Intercontinental Exchange (ICE) canola futures were turning mixed at midday Wednesday, with the most traded March contract hitting new highs earlier today. A trader noted that the open interest in the nearby January canola contract was quickly receding, being already under 8,000. Support for canola was

Futures markets

ICE canola up continues higher Wednesday morning

By GFM Network News December 22, 2021

By Phil Franz-Warkentin, MarketsFarm WINNIPEG, Dec. 22 (MarketsFarm) – The ICE Futures canola market was stronger Wednesday morning, seeing a continuation of yesterday’s advances. Sharp gains in the Chicago Board of Trade soy complex provided spillover support for canola, with Malaysian palm oil and European rapeseed futures also stronger overnight. Ongoing concerns over tight supplies

Global markets

Global Markets: Trudeau to speak to Canadians about Omicron

Sharp uptick of variant across country

By GFM Network News December 22, 2021

Compiled by Glen Hallick, MarketsFarm WINNIPEG, Dec. 22 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally. – Canadian Prime Minister Justin Trudeau is scheduled to speak to the country on Wednesday regarding the Omicron variant. In recent days the number of reported cases of Omicron have spiked

Currency markets

Canadian Dollar and Business Outlook: Markets steady despite Omicron uncertainty

By GFM Network News December 22, 2021

WINNIPEG– The Canadian dollar made gains on Wednesday despite new shutdowns due to the Omicron COVID-19 variant and steady crude oil prices. As of 8:33 a.m. CST, the loonie was at US$0.7754 or US$1=C$1.2897, compared to Tuesday’s close of US$0.7736 or US$1=C$1.2927. Prime Minister Justin Trudeau, Chief Public Health Officer Dr. Theresa Tam and numerous

CME April 2022 lean hogs (candlesticks) with 20-, 50- and 100-day moving averages (pink, brown and black lines). (Barchart)

Livestock, Markets

U.S. livestock: CME hogs near one-month high on smaller herd estimates

Live cattle, feeder cattle also up

By GFM Network News, Tom Polansek December 22, 2021

Chicago | Reuters — Chicago Mercantile Exchange hog futures rallied on Tuesday amid expectations the U.S. Department of Agriculture will confirm a smaller pig herd in a report due out on Thursday, analysts said. USDA, in its quarterly Hogs and Pigs report, is expected to show the herd was about 2.9 per cent smaller on

CBOT March 2022 corn (candlesticks) with 20-, 50- and 100-day moving averages (yellow, orange and dark green lines). (Barchart)

Crops, Markets

U.S. grains: Corn, soybeans hit summertime-level highs

Dryness in Brazil and Argentina in view for soy and corn; investors show renewed appetite for risk, traders say

By GFM Network News, Tom Polansek December 21, 2021

Chicago | Reuters — Unfavourable dryness in crop-growing areas of South America on Tuesday pushed Chicago Board of Trade corn futures to their highest price since July and soybeans to an August high, analysts said. Wheat futures also rallied. South American weather was in the spotlight amid concerns about dry weather in southern Brazil, the

Crops, Markets

Pulse weekly outlook: Lentils steady during holidays

By GFM Network News, Glen Hallick - MarketsFarm December 21, 2021

MarketsFarm — There isn’t much movement in lentil prices as the market is in holiday mode, according to Dale McManus of Johnston Grains at Welwyn, Sask. “We’re doing two or three loads every second or third day, but not over-pushing it,” he said. Prices for lentils have been very steady this week. Lairds in Western

Currency markets

Canadian Financial Close: Crude oil, TSX rise amid COVID-19 fears

By GFM Network News December 21, 2021

WINNIPEG – The Canadian dollar moved slightly upward on Tuesday while crude oil surged. The loonie was at US$0.7736 or US$1=C$1.2927 on Tuesday, up from Monday’s close of US$0.7727 or US$1=C$1.2942. Retail sales increased in Canada by 1.2 per cent in November, according to a report from Statistics Canada released on Tuesday. The United States

Futures markets

North American Grain/Oilseed Review: Canola rallies with soy complex

By GFM Network News December 21, 2021

By Phil Franz-Warkentin, MarketsFarm WINNIPEG, Dec. 21 (MarketsFarm) – The ICE Futures canola market was stronger on Tuesday, as a rally in the Chicago soy complex provided spillover support. Speculative buying was a feature, as sharp gains in crude oil and outside financial markets was seen as a sign of increasing risk appetite. Canada’s tight

Livestock, Markets

Klassen: Feeder market stabilizes after December surge

By GFM Network News, Jerry Klassen December 21, 2021

Compared to last week, western Canadian feeder cattle prices traded $3-$4 on either side of unchanged. Small groups of various quality characterized sale volumes. There were a few packages of backgrounded yearlings that sold at decent levels. Finishing feedlots were fairly aggressive on groups in the 700- to 800-lb. category. Higher flesh levels have become

Daily Network News

New strategies needed for Canadian agriculture to stand out in global trade

Feed Grains Weekly: Cash prices for wheat, barley largely flat

The Canadian GMO mustard wars: Dijon vs canola

Markets

ICE Canola Midday: Prices pulling back from highs

ICE canola up continues higher Wednesday morning

Global Markets: Trudeau to speak to Canadians about Omicron

Canadian Dollar and Business Outlook: Markets steady despite Omicron uncertainty

U.S. livestock: CME hogs near one-month high on smaller herd estimates

U.S. grains: Corn, soybeans hit summertime-level highs

Pulse weekly outlook: Lentils steady during holidays

Canadian Financial Close: Crude oil, TSX rise amid COVID-19 fears

North American Grain/Oilseed Review: Canola rallies with soy complex

Klassen: Feeder market stabilizes after December surge

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