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ICE Canada Morning Comment: Canola pushing higher in light volumes

Support from soyoil, rapeseed

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WINNIPEG, Dec. 21 (MarketsFarm) – Intercontinental Exchange (ICE) canola futures were higher on Tuesday morning, deriving support from gains in Chicago soyoil and the front months of European rapeseed. Meanwhile, lower Malaysian palm oil weighed on values. With the holiday season trading can be erratic due to reduced volumes. Additional support came from tight canola
A tractor-mounted snowblower runs through rows of piled-up surplus potatoes on a field near Victoria, P.E.I., about 35 km west of Charlottetown, on Dec. 20, 2021. The shredded potatoes are expected to break down over the winter as compost. (Screengrab from P.E.I. Potato Board video)
Crops, Markets

Feds put up funds toward managing P.E.I. potato surplus

Ottawa budgets $28 million for distribution and disposal

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Prince Edward Island potatoes locked out of the U.S. export market will go either to food banks or “environmentally-sound” disposal with new federal funding. Federal Agriculture Minister Marie-Claude Bibeau on Monday announced $28 million “to support the diversion of surplus potatoes, including help to redirect surplus potatoes to organizations addressing food insecurity and support for
CME February 2022 live cattle (candlesticks) with 20-, 50- and 100-day moving averages (pink, dark red and black lines). (Barchart)
Livestock, Markets

U.S. livestock: CME cattle, hog futures sag as broad selling hits markets

Crude, U.S. equities caught in sell-off

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Chicago | Reuters — Chicago Mercantile Exchange livestock futures slumped on Monday as traders reduced risk in the face of rising coronavirus cases, brokers said. Selling hit a range of markets including crude oil, which lost more than three per cent, and U.S. stocks. “The risk-off trade is back today,” said Dan Norcini, an independent
(Dave Bedard photo)
Crops, Markets

AAFC adjusts grain, oilseed balance sheets slightly

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MarketsFarm –– Updated supply and demand tables from Agriculture and Agri-Food Canada (AAFC), released late Friday, included only minor adjustments to balance sheets for the country’s major crops. The department’s projected ending stocks for wheat and canola were left unchanged from the previous month. Factoring in the official estimates from Statistics Canada, released Dec. 3,
CBOT March 2022 wheat (candlesticks) with K.C. March 2022 wheat (yellow O/H/L/C). (Barchart)
Crops, Markets

U.S. grains: Winter wheat futures rise on demand, crop woes

CBOT soybeans up, corn down

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Chicago | Reuters –– U.S. winter wheat futures rose on Monday on global demand and concerns about poor crop weather in America’s Plains region, while concerns about unfavourable dryness in parts of South America helped lift U.S. soy futures, analysts said. Traders focused on weather conditions after crop observers in Kansas said hurricane-force winds that
Futures markets

North American Grain and Oilseed Review: Old crop canola finishes mixed

New week at CBOT kicks off with mixed bag

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By Glen Hallick, MarketsFarm WINNIPEG, Dec. 20 (MarketsFarm) – Intercontinental Exchange (ICE) canola futures were mixed on Monday in the heavily traded old crop months. There was a sharp decline in the sparsely traded new November contract. Chicago soyoil came off of earlier lows, but still weighed on canola values, as did declines in Malaysian
Futures markets

ICE Canola Midday: Prices down, but spec longs remain supportive

Losses in comparable oils, crude prices

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By Glen Hallick, MarketsFarm WINNIPEG, Dec. 20 (MarketsFarm) – Intercontinental Exchange (ICE) canola futures were lower at midday Monday, due to weakness in Chicago soyoil and Malaysian palm oil, said a trader. After being higher earlier, European rapeseed has turned lower to weigh on values as well. Sharp declines in global crude oil prices also
Global markets

Global Markets: NHL postpones games, but season still on

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By MarketsFarm WINNIPEG, Dec. 20 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally. – The NHL and NHL Players Association have reached an agreement to continue the regular season schedule, despite a number of COVID-19 related postponements. All cross-border games will also be delayed through Dec. 23

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