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ICE canola strengthens with outside vegoil markets at midday

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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

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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

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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
Global markets

Global Markets: U.S. land border to reopen to Canadians

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By MarketsFarm WINNIPEG, Oct. 13 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally. – The United States will reopen its land border with Canada to fully vaccinated travellers sometime in early November, according to U.S. officials. The border has been closed to non-essential travel since March 2020
CME December 2021 live cattle (candlesticks) with Bollinger bands (20,2). (Barchart)
Livestock, Markets

U.S. livestock: CME live cattle down on raised beef production forecasts

Pork supply expectations drag on CME December hogs

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Chicago | Reuters — Chicago Mercantile Exchange live cattle futures ended lower on Tuesday, after the U.S. Department of Agriculture slightly increased its forecasts for beef production this year and next year. USDA, in a monthly report, raised its 2021 estimate by 0.3 per cent from September because of higher cow slaughtering and heavier average
CBOT November 2021 soybeans (candlesticks) with ICE November 2021 canola (yellow line, left column). (Barchart)
Crops, Markets

U.S. grains: Soybeans touch last December’s lows

Soy, corn production bigger than previously expected, USDA says

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Chicago | Reuters — Chicago soybean futures dropped on Tuesday to the lowest seen since December 2020, after a U.S. government report pegged soybean and corn production to be bigger than traders had previously expected. The monthly world agricultural supply and demand estimates (WASDE) report pegged the soybean crop at 4.448 billion bushels, and soybean
Currency markets

Canadian Financial Close: C$ strengthens

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By MarketsFarm WINNIPEG, Oct. 12 (MarketsFarm) – The Canadian dollar was stronger on Tuesday, seeing a continuation of the previous week’s gains relative to its United States counterpart. The Canadian dollar settled at US$0.8025 or US$1=C$1.2461 on Friday, which compares with Friday’s North American close of US$0.8012 or US$1=C$1.2482. West Texas Intermediate was up by
(GFM file photo)
Crops, Markets

Cargill, ADM sell GrainBridge to ag software firm Bushel

'Network effect' expected in grains sector

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An online service farmers use to manage grain sales with ADM’s elevators and processing plants across Canada — along with Cargill and ADM elevators in the U.S. — is under new ownership. ADM and Cargill, the two major U.S.-based agribusinesses that set up GrainBridge in 2019, announced Tuesday they’ve sold it to Bushel, a Fargo,
Futures markets

North American Grain/Oilseed Review: Canola drops sharply

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By Phil Franz-Warkentin, MarketsFarm WINNIPEG, Oct. 12 (MarketsFarm) – The ICE Futures canola market was sharply weaker on Tuesday, falling in sympathy with the Chicago Board of Trade soy complex as the futures had a bearish reaction to updated supply/demand data from the United States Department of Agriculture. Upward revisions to both U.S. and world
Futures markets

ICE canola down sharply at midday Tuesday

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By Phil Franz-Warkentin, MarketsFarm WINNIPEG, Oct. 12 (MarketsFarm) The ICE Futures canola market was weaker at midday Tuesday, posting sharp losses in sympathy with the Chicago Board of Trade soy complex. Soybeans and soyoil both moved lower on Monday when Canadian markets were closed for Thanksgiving and remained pointed lower on Tuesday. Malaysian palm oil

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