Canadian Financial Close: Loonie dips, TSX extends rally

WINNIPEG – The Canadian dollar slipped back on Monday due to softening crude oil prices and speculation regarding the Bank of Canada’s (BoC) interest rate announcement on Wednesday. The loonie was at US$0.8078 or US$1=C$1.2379 on Monday, down from Friday’s price of US$0.8093 or US$1=C$1.2357. The BoC is expected to raise its inflation forecast and

China Sept. meat imports fall 17 per cent from year earlier

China’s meat imports in September fell sharply from a year ago to their lowest in 19 months, customs data showed on Wednesday, as cheap domestic pork cut demand for overseas supply. China brought in 694,000 tonnes of meat in September, down 17 per cent from the same month a year ago, according to the General


North American Grain/Oilseed Review: Canola nears contract highs

By Phil Franz-Warkentin, MarketsFarm WINNIPEG, Oct. 25 (MarketsFarm) – The ICE Futures canola market was stronger on Monday, boosted by spillover from gains in Chicago Board of Trade soyoil and Malaysian palm oil. Bullish chart signals contributed to the gains, as prices neared major upside resistance. Tight supplies remained another supportive influence, although demand is

China’s live hog futures jump on falling sow inventory, govt. purchases

China’s live hog futures surged to hit a one-month high, tracking spot prices and helped by government stockpiling and falling sow inventory. “The driving force mainly came from the supply side,” said Rosa Wang, an analyst with Shanghai JC Intelligence Co. Ltd., citing decreasing sow inventory as a factor. China’s sow herd contracted by 0.9


ICE canola strengthens with outside markets

By Phil Franz-Warkentin, MarketsFarm WINNIPEG, Oct. 25 (MarketsFarm) – The ICE Futures canola market was stronger at midday Monday, taking some direction from outside vegetable oil markets. Chicago Board of Trade soyoil futures were posting solid gains, seeing a recovery after profit-taking weighed on values late last week. Malaysian palm oil and European rapeseed futures

Global Markets: Military coup in Sudan

By MarketsFarm WINNIPEG, Oct. 25 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally. – Sudan’s military has staged a coup in the African country, overthrowing a transitional government that had been put in place after the ousting of former leader Omar al-Bashir two years ago. Numerous government



ICE Canada Morning Comment: Canola making gains

Support from comparable oils

By Glen Hallick, MarketsFarm WINNIPEG, Oct. 25 (MarketsFarm) – To start off the last week of October, Intercontinental Exchange (ICE) canola futures were higher on Monday morning. Support was coming from gains in the Chicago soy complex, as well as Malaysian palm oil and European rapeseed. Tight supplies and this year’s lackluster production continued to


File photo of a container vessel being unloaded at a U.K. port. (Sterling750/iStock/Getty Images)

Britain, New Zealand strike free trade deal

London/Wellington | Reuters — Britain and New Zealand have reached agreement in principle on a free trade deal designed to reduce tariffs, improve services trade, and take London one step closer to membership in a broader trans-Pacific trade agreement. Prime ministers Boris Johnson and Jacinda Ardern sealed the deal in a Zoom call on Wednesday

File photo of wheat being loaded onto a bulk vessel at port in Russia. (YGrek/iStock/Getty Images)

‘Containergeddon’ drives sugar, rice shippers back to bulk vessels

New York | Reuters — Food traders are switching from containers back to dry bulk vessels to transport refined sugar and rice, hoping to avoid shipping delays caused by container shortages and port congestion the industry is calling “containergeddon,” according to traders. Container-based transportation has been hit by sky-high costs and delays amid booming shipping