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Normal fall run traffic seen despite early cattle sales

Livestock Markets, Markets

Normal fall run traffic seen despite early cattle sales

Feedlots Down East have dialed up demand compared to last year

By Phil Franz-Warkentin October 22, 2021

The Thanksgiving long weekend did little to slow activity at Manitoba’s cattle auction yards, with larger volumes and relatively solid prices reported across the province as the cattle market works through the annual fall run. “It’s October, it’s fall run time, there’s no way we can take a week off,” said Allan Munroe of Killarney

Currency markets

Canadian Financial Close: C$ steadies ahead of weekend

By GFM Network News October 22, 2021

By MarketsFarm WINNIPEG, Oct. 22 (MarketsFarm) – The Canadian dollar held relatively steady on Friday, posting only small losses as the currency traded near its highest levels in four months. The Canadian dollar closed at US$0.8093 or US$1=C$1.2357 on Friday, which compares with Thursday’s North American close of US$0.8097 or US$1=C$1.2351. Positioning ahead of the

Futures markets

North American Grain and Oilseed Review: Canola comes off its lows

Sharp upticks for U.S. wheat

By GFM Network News October 22, 2021

By Glen Hallick, MarketsFarm WINNIPEG, Oct. 22 (MarketsFarm) – Intercontinental Exchange (ICE) canola futures finished weaker on Friday, but they came well off of their lows and even made gains prior to the close. A trader said the liquidation of the November contract will pick up the pace during the next week. Losses in Chicago

Futures markets

ICE Canola Midday: November’s expiry pushing down prices

Liquidation to accelerate next week

By GFM Network News October 22, 2021

By Glen Hallick, MarketsFarm WINNIPEG, Oct. 22 (MarketsFarm) – Intercontinental Exchange (ICE) canola prices remained lower at midday Friday following yesterday’s losses as the expiry of the November options draw closer. “The liquidation in the November continues to accelerate,” said a trader, noting that its open interest is rapidly declining. He added there has been

Global Markets: Turmoil at Rogers Communications

Edward Rogers attempting to oust president & CEO

By GFM Network News October 22, 2021

Compiled by Glen Hallick, MarketsFarm WINNIPEG, Oct. 22 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally. – In behind the scenes machinations, Edward Rogers has been removed as the chair of the board of Rogers Communications following his attempt to oust company president and CEO Joe Natale.

Futures markets

ICE canola consolidating in choppy trade

By GFM Network News October 22, 2021

By Phil Franz-Warkentin, MarketsFarm WINNIPEG, Oct. 22 (MarketsFarm) – The ICE Futures canola market narrowly mixed Friday morning in choppy trade, seeing some consolidation ahead of the weekend after Thursday’s profit-taking selloff. The Chicago Board of Trade soy complex was holding firm in early activity, providing some spillover support for canola. Ongoing concerns over tight

Currency markets

Canadian Dollar and Business Outlook: Loonie up despite fewer retail sales

By GFM Network News October 22, 2021

WINNIPEG – The Canadian dollar moved its way back above the 81-cent United States mark on Friday despite news of fewer retail sales in September. As of 8:33 a.m. CDT, the loonie was at US$0.8109 or US$1=C$1.2332, compared to Thursday’s close of US$0.8097 or US$1=C$1.2351. Statistics Canada reported today receipts fell 1.9 per cent in

Federal Finance Minister Chrystia Freeland appears at a news conference in Ottawa on Sept. 24, 2020. (Photo: Reuters/Blair Gable)

Canada to wind down broad-based COVID aid programs

Feds opt for targeted measures as economy recovers

By David Ljunggren, GFM Network News October 22, 2021

Ottawa | Reuters — Canada will not extend existing broad-based COVID-19 support programs for companies and individuals when they expire on Saturday because the economy is recovering well, Finance Minister Chrystia Freeland said on Thursday. Instead, Ottawa will introduce more targeted and less costly measures for hard-hit sectors such as the tourism industry. The new

CME December 2021 lean hogs (candlesticks) with 20- and 100-day moving averages (pink and black lines) and CME Lean Hog Index (dark red dotted line, left column). (Barchart)

Livestock, Markets

U.S. livestock: CME lean hogs fall on sluggish export sales

Weaker exports drag on cattle also

By Christopher Walljasper, GFM Network News October 22, 2021

Chicago | Reuters — Chicago Mercantile Exchange lean hog futures fell for a third session on Thursday, pressured by weak export activity, traders said. CME December lean hog futures settled down 2.825 cents at 73.2 cents/lb., its biggest drop since Sept. 10 (all figures US$). CME February hogs ended down 2.55 cents at 76.675 cents/lb.

CBOT November 2021 soybeans (candlesticks) with 20-, 50- and 100-day moving averages (yellow, dark green and black lines). (Barchart)

U.S. grains: Soy down on South American weather, technical pressure

Firm U.S. dollar weighs on wheat; rising crop input costs supportive for corn

By Christopher Walljasper, GFM Network News October 21, 2021

Chicago | Reuters — Chicago soybean futures fell on Thursday after five straight sessions of gains, pressured by technical resistance and beneficial forecasts for rain in top export competitor Brazil. Wheat eased from a two-week high hit earlier on Thursday as weaker crude oil prices and a firmer U.S. dollar offset tightening global supplies. Corn