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Canadian Financial Close: Loonie inches upward

Crude oil loses earlier gains to move lower

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Compiled by Glen Hallick, MarketsFarm WINNIPEG, Dec. 1 (MarketsFarm) – The Canadian dollar was slightly higher on Wednesday, despite dipping below 78 United States at one point. The loonie closed at US$0.7827 or US$1=C$1.2776, compared to Tuesday’s close of US$0.7817 or US$1=C$1.2792. On the U.S. Dollar Index, the greenback bumped up 0.073 of a point
(Dave Bedard photo)
Crops, Markets

Smaller crops likely in StatsCan survey-based report

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MarketsFarm — Mindful of the summer drought conditions that seriously cut into crop production across the Prairies, average trade estimates call for downward revisions to Statistics Canada’s already-small forecasts for most crops when the it releases its first survey-based estimates of the marketing year on Friday. While prior reports, in September and August, were compiled
Futures markets

North American Grain and Oilseed Review: Old crop canola keeps gains as crude oil falls back

A mixed ending after a calmer day at CBOT

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By Glen Hallick, MarketsFarm WINNIPEG, Dec. 1 (MarketsFarm) – Intercontinental Exchange (ICE) canola futures saw increases in the old crop months on Wednesday, while new crop positions closed slightly lower. Support for edible oils from strong upticks in global crude oil prices evaporated by the close of the grain markets, which weakened edible oils. Ahead
Futures markets

ICE Canola Midday: Moderate increases for old crop prices

Support from crude oil not likely to last

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By Glen Hallick, MarketsFarm WINNIPEG, Dec. 1 (MarketsFarm) – Intercontinental Exchange (ICE) canola futures saw gains in the crop month sat midday Wednesday, but there were declines in the new crop positions. Support for edible oils was coming from gains in global crude oil prices, but a trader said in the long run crude is
Futures markets

ICE canola consolidating after Tuesday’s selloff

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By Phil Franz-Warkentin, MarketsFarm WINNIPEG, Dec. 1 (MarketsFarm) – The ICE Futures canola market was mixed Wednesday morning, seeing some consolidation after Tuesday’s selloff. Canola was said to be due for a profit-taking correction from a chart standpoint, which contributed to Tuesday’s sharp losses. However, the underlying fundamentals of tight supplies remain supportive. Chicago Board
Currency markets

Canadian Dollar and Business Outlook: Loonie attempts to stem declines

Crude rises ahead of OPEC meeting

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Compiled by Glen Hallick, MarketsFarm WINNIPEG, Dec. 1 (MarketsFarm) – The Canadian dollar was higher Wednesday morning, as crude oil prices recovered some lost ground while the United States dollar pulled back. As of 8:39 am CST, the Canadian dollar was at US$0.7849 or C$1.2746, compared to Tuesday’s close of US$0.7817 or C$1.2792. On the
File photo of a pea crop south of Ethelton, Sask. on Aug. 1, 2019. (Dave Bedard photo)
Crops, Markets

Pulse weekly outlook: Feed peas in short supply

Some feeders substituting soymeal

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MarketsFarm — Hot and dry growing conditions cut into Canada’s pea production in 2021-22 — but the quality was relatively good, which means feed peas are in even shorter supply. “Yields were low across the harvest this year, but I’d say quality was quite good on yellow and green peas,” said a feed pea merchant.
CBOT March 2022 wheat (candlesticks) with Bollinger bands (20,2). (Barchart)
Crops, Markets

U.S. grains: Wheat extends slide as Omicron worries mount

Corn, soybeans also slip on virus fears

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Chicago | Reuters — Chicago wheat prices fell to a nearly three-week low on Tuesday, as concerns that the spread of the Omicron coronavirus variant could slow the global economy drove investors to reduce risk exposure. The entire grains complex felt pressure early in the session, after Moderna’s CEO cautioned that COVID-19 shots were unlikely

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