Markets & Farming Articles - Manitoba Co-operator

Proudly Canadian

Global Markets: Canada’s economy expands in third quarter

By GFM Network News November 30, 2021

WINNIPEG – The following is a glance at the news moving markets in Canada and globally. – Statistics Canada announced on Tuesday that Canada’s gross domestic product (GDP) grew by 1.3 per cent from July to September as the easing of COVID-19 restrictions allowed for more consumer spending. The total value of all goods and

Currency markets

Canadian Dollar and Business Outlook: Declines in crude, greenback keep loonie stable

Omicron variant threatens global oil demand

By GFM Network News November 30, 2021

Compiled by Glen Hallick, MarketsFarm WINNIPEG, Nov. 30 (MarketsFarm) – The Canadian dollar was unchanged on Tuesday morning, as weaker crude oil prices and a decline in the United States dollar played off of each other. As of 8:37 am CST, the Canadian dollar was at US$0.7834 or C$1.2765, the same as Monday’s close On

(Photo courtesy Canada Beef Inc.)

Livestock, Markets

Klassen: Feeder market making seasonal lows

Surge of Canadian cattle exports expected

By GFM Network News, Jerry Klassen November 30, 2021

Compared to last week, western Canadian feeder markets were down $2-$4 on average. Prices for feeder cattle in the eastern Prairie regions were relatively unchanged from seven days earlier; however, values in Alberta and western Saskatchewan were down $4 to as much as $8 in some cases. This variation made the market hard to define.

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: Cattle post new highs, retreat on profit-taking

Chicago lean hogs close mixed

By GFM Network News, Karl Plume November 30, 2021

Chicago | Reuters — Chicago Mercantile Exchange live cattle futures rose to multi-year highs on Monday but closed lower as profit-taking and technical selling clipped gains, traders said. The spread of a new coronavirus variant sparked demand worries as livestock traders feared renewed restrictions on travel and restaurant occupancy. But strong beef packer margins and

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

U.S. grains: Wheat drops as U.S. dollar edges higher

Australia forecasts record wheat crop; corn, soy down on good South America weather

By GFM Network News, Karl Plume November 30, 2021

Chicago | Reuters — U.S. wheat futures retreated on Monday on a firmer dollar and as a record harvest outlook from major exporter Australia eased recent concerns about rain-damaged crops. Corn and soybeans followed wheat lower, pressured by technical selling and profit-taking and by good weekend rains in Argentina and parts of Brazil. Chicago Board

Currency markets

Canadian Financial Close: Loonie holds relatively steady

Higher crude prices play off of stronger U.S. greenback

By GFM Network News November 29, 2021

Compiled by Glen Hallick, MarketsFarm WINNIPEG, Nov. 29 (MarketsFarm) – The Canadian dollar was firm on Monday, as increases in crude oil prices were countered by a stronger United States dollar. The loonie closed at US$0.7834 or US$1=C$1.2765, compared to Friday’s close of US$0.7830 or US$1=C$1.2771. On the U.S. Dollar Index, the greenback pushed higher

Futures markets

North American Grain and Oilseed Review: Canola fails to hang on to early gains

A day of across-the-board losses at CBOT

By GFM Network News November 29, 2021

By Glen Hallick, MarketsFarm WINNIPEG, Nov. 29 (MarketsFarm) – Intercontinental Exchange (ICE) canola futures pulled back on Monday, after rallying to new contract highs during the overnight session. Downward pressure came from the liquidation of the January contract as well as market concerns over the new Omicron strain of COVID-19. Losses in the Chicago soy

Futures markets

ICE Canola Midday: Declines follow overnight highs

Statistics Canada report due out on Friday

By GFM Network News November 29, 2021

By Glen Hallick, MarketsFarm WINNIPEG, Nov. 29 (MarketsFarm) – Intercontinental Exchange (ICE) canola futures were lower at midday Monday, after contracts hit new highs during “a wild overnight session,” said a trader. He explained things petered out due to the long liquidation, spurred on by concerns over the new Omicron strain of COVID-19. Also, the

Global Markets: Omicron COVID-19 variant detected in Canada

By GFM Network News November 29, 2021

WINNIPEG – The following is a glance at the news moving markets in Canada and globally. – The Ontario government announced on Sunday the discovery of two confirmed cases of the newly-identified Omicron COVID-19 variant, the first cases in Canada. Both cases were diagnosed in individuals who have recently travelled to Nigeria. On Friday, Canada

Futures markets

ICE canola turns mixed after hitting new highs overnight

By GFM Network News November 29, 2021

By Phil Franz-Warkentin, MarketsFarm WINNIPEG, Nov. 29 (MarketsFarm) – The ICE Futures canola market was mixed Monday morning, retreating from earlier gains in choppy trade. The nearby contracts had set fresh highs in overnight activity, but ran into some resistance and turned mixed as the North American day session got underway. The Chicago Board of