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Canadian Financial Close: Loonie closes above 79 U.S. cents

Greenback down, crude oil up

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Compiled by Glen Hallick, MarketsFarm WINNIPEG, Sept. 23 (MarketsFarm) – The Canadian dollar was stronger on Thursday, slightly higher than 79 U.S. cents as the United States dollar weakened and crude oil prices increased. The loonie closed at US$0.7903 or US$1=C$1.2653, compared to Wednesday’s close of US$0.7839 or US$1=C$1.2756. On the U.S. Dollar Index, the
Futures markets

North American Grain/Oilseed Review: Canola posts solid gains

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By Phil Franz-Warkentin, MarketsFarm WINNIPEG, Sept. 23 (MarketsFarm) – The ICE Futures canola market was stronger on Thursday, underpinned by solid demand and gains in outside markets. European rapeseed and Malaysian palm oil futures both set fresh contract highs overnight. Chicago Board of Trade soyoil futures were also stronger. Seasonal harvest pressure did temper the
CBOT December 2021 oats (candlesticks) with 20-, 50- and 100-day moving averages (yellow, orange and dark green lines). (Barchart)
Crops, Markets

CBOT oats climb on supply woes

Prairie drought eats at availability

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Chicago | Reuters — Chicago Board of Trade December oats futures climbed their daily maximum of 25 cents per bushel on Wednesday, nearing a 7-1/2 hear high, after drought slashed supplies from top global supplier Canada at a time of robust demand for the grain, traders said. The December oats contract surged 25 cents to
Canola remains rangebound for now
Grain Markets, Markets

Canola remains rangebound for now

A production update from StatsCan spurs a brief rally in canola

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After Statistics Canada issued its updated crop production report on Sept. 13, canola on ICE Futures took a bit of an upswing. Such was a given, as the federal agency dropped its estimate for 2021-22 canola production, from the 14.7 million tonnes it predicted in its Aug. 30 report down to 12.8 million. Unlike the reaction
Futures markets

ICE climbs to one-week highs at midday

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By Phil Franz-Warkentin, MarketsFarm WINNIPEG, Sept. 23 (MarketsFarm) – The ICE Futures canola market was stronger at midday Thursday, hitting its highest levels in a week as steady demand underpinned the futures. European rapeseed contracts climbed to fresh highs overnight, which provided spillover support for the Canadian oilseed. Chicago Board of Trade soyoil futures were
Global markets

Global Markets: Canadian retail sales rebound

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WINNIPEG – The following is a glance at the news moving markets in Canada and globally. – After retail sales declined in early summer, Statistics Canada reported on Wednesday the value of receipts in Canada increased 2.1 per cent in August to C$57 billion. In July, sales went down 0.6 per cent. Retail sales are
Currency markets

Canadian dollar and business outlook

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By MarketsFarm WINNIPEG, Sept. 23 (MarketsFarm) – The Canadian dollar was stronger Thursday morning, boosted by better-than-expected retail sales data. At 8:43 a.m. CDT Thursday morning, the Canadian dollar was at US$0.7894 or US$1=C$1.2668 which compares with Wednesday’s North American close of US$0.7839 or US$1=C$1.2756. While Statistics Canada reported that retail sales in the country
Futures markets

ICE Canada Morning Comment: Canola pushing upward

Spillover support from other edible oils

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By Glen Hallick, MarketsFarm WINNIPEG, Sept. 23 (MarketsFarm) – Intercontinental Exchange (ICE) canola futures were higher on Thursday morning, gleaning support from gains in Chicago soyoil, European rapeseed and Malaysian palm oil. Also, uncertainty over this year’s Prairie crop continued to underpin canola values. Daytime temperatures are forecast to be in the mid to high

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