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Futures markets

ICE canola strengthens early Thursday

By GFM Network News October 14, 2021

By Phil Franz-Warkentin, MarketsFarm WINNIPEG, Oct. 14 (MarketsFarm) – The ICE Futures canola market was stronger Thursday morning, seeing a continuation of Wednesday’s recovery off of nearby lows. Gains in Chicago Board of Trade soyoil and European rapeseed futures contributed to the early strength in canola. However, Malaysian palm oil was weaker, as that market

Global Markets: Gunfire erupts at Beirut protest

By GFM Network News October 14, 2021

By MarketsFarm WINNIPEG, Oct. 14 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally. – At least five people are dead in Beirut and dozens more injured after gunfire broke out at a protest against the judge investigating last year’s deadly port explosion in the Lebanon capital. Hundreds

ICE January 2022 canola (candlesticks) with Bollinger bands (20,2). (Barchart)

ICE weekly outlook: Canola still rangebound

Selling pressure seen from U.S. soy

By GFM Network News, Phil Franz-Warkentin October 13, 2021

MarketsFarm — ICE Futures canola contracts held rangebound during the week ended Wednesday, climbing to their strongest levels in two months at one point before running into resistance and retreating to trade well off those highs. “We’re still stuck in a trading range,” said Keith Ferley of RBC Dominion Securities in Winnipeg. Activity in outside

CBOT December 2021 corn (candlesticks) with Bollinger bands (20,2). (Barchart)

U.S. grains: Corn, soy futures fall on big grain stocks, export pace

CBOT wheat falls on profit-taking

By GFM Network News, P.J. Huffstutter October 13, 2021

Chicago | Reuters — Chicago corn futures dipped to a four-week low on Wednesday as the grain markets continued to feel pressure from higher than expected forecasts of U.S. supplies, traders said. Soybean futures fell further, a day after the U.S. Department of Agriculture (USDA) projected U.S. soybean and corn ending stocks were above the

CME December 2021 lean hogs (candlesticks) with 20-, 50- and 100-day moving averages (pink, dark red and black lines). (Barchart)

Livestock, Markets

U.S. livestock: CME hogs near three-week low amid ample supply

Chicago cattle futures also lower

By GFM Network News, Tom Polansek October 13, 2021

Chicago | Reuters — Chicago Mercantile Exchange lean hog futures fell to their lowest prices in about three weeks on Wednesday amid pressure from plentiful supplies, analysts said. Live cattle and feeder cattle futures also finished lower at CME. Hog supplies tend to increase in the autumn, pushing more pork on the market and weighing

Currency markets

Canadian Financial Close: C$ firm amid broad USD weakness

By GFM Network News October 13, 2021

By MarketsFarm WINNIPEG, Oct. 13 (MarketsFarm) – The Canadian dollar was stronger on Wednesday, as broad weakness in the United States dollar internationally provided some relative support. The Canadian dollar settled at US$0.8035 or US$1=C$1.2445 on Wednesday, which compares with Tuesday’s North American close of US$0.8025 or US$1=C$1.2461. West Texas Intermediate was down by 0.1

Futures markets

North American Grain/Oilseed Review: Canola corrects higher

By GFM Network News October 13, 2021

By Phil Franz-Warkentin, MarketsFarm WINNIPEG, Oct. 13 (MarketsFarm) – The ICE Futures canola market was stronger on Wednesday, seeing a modest correction after Tuesday’s selloff. Malaysian palm oil climbed to fresh contract highs in overnight activity, which was supportive for vegetable oil markets in general – including canola. Chicago Board of Trade soyoil futures were

Futures markets

ICE canola strengthens with outside vegoil markets at midday

By GFM Network News October 13, 2021

By Phil Franz-Warkentin, MarketsFarm WINNIPEG, Oct. 13 (MarketsFarm) The ICE Futures canola market was stronger at midday Wednesday, taking back some of Tuesday’s losses. Malaysian palm oil climbed to fresh contract highs in overnight activity, which was supportive for vegetable oil markets in general – including canola. Chicago soyoil futures were also up at midday,

Currency markets

Canadian dollar and business outlook

By GFM Network News October 13, 2021

By MarketsFarm WINNIPEG, Oct. 13 (MarketsFarm) – The Canadian dollar was slightly firmer relative to its United States counterpart early Tuesday, although facing some resistance to the upside. At 9:06 a.m. CDT Wednesday morning, the Canadian dollar was at US$0.8029 or US$1=C$1.2455 which compares with Tuesday’s North American close of US$0.8025 or US$1=C$1.2461. Better-than-expected U.S.

Futures markets

ICE canola correcting higher

By GFM Network News October 13, 2021

By Phil Franz-Warkentin, MarketsFarm WINNIPEG, Oct. 13 (MarketsFarm) – The ICE Futures canola market was stronger Wednesday morning, taking back some of Tuesday’s losses amid ideas the downturn was overdone. Early strength in Chicago Board of Trade soyoil futures and gains in Malaysian palm oil provided some spillover support for the Canadian oilseed. Tight supplies