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CME May 2021 feeder cattle with 20-, 50- and 100-day moving averages. (Barchart)

Livestock, Markets

U.S. livestock: Limit-up grains pressure feeder cattle, lean hogs

Beef demand supports CME live cattle

By Christopher Walljasper, GFM Network News April 1, 2021

Chicago | Reuters — U.S. feeder cattle futures dropped on Wednesday, reacting to limit-up gains in corn and soybean futures that will translate to higher livestock feed costs as grain users compete for tight supplies, traders said. On the Chicago Mercantile Exchange, the most-active May feeder cattle contract finished 2.8 cents lower at 149.4 cents

Futures markets

Canadian Financial Close: C$ strengthens with economy

By GFM Network News March 31, 2021

By MarketsFarm WINNIPEG, March 31 (MarketsFarm) – The Canadian dollar was stronger on Wednesday, underpinned by solid gross domestic product data. The country’s GDP was up by 0.7 per cent in January compared to the previous month, marking the ninth consecutive increase. However, total economic activity in the country was still down by about three

Futures markets

North American Grain and Oilseed Review: Canola up daily limit

Spillover from huge, unexpected gains in CBOT soybeans, corn

By GFM Network News March 31, 2021

By Glen Hallick, MarketsFarm WINNIPEG, March 31 (MarketsFarm) – Intercontinental Exchange (ICE) canola futures skyrocketed on Wednesday to hit daily limits in the May, July, November and January contracts. The impetus for the dramatic turnaround from yesterday’s sharp losses was two reports from the United States Department of Agriculture (USDA). The grain stocks as of

Futures markets

ICE Canola Midday: A smaller than expected bounce in prices

Expected prices to be $6-8 higher

By GFM Network News March 31, 2021

By Glen Hallick, MarketsFarm WINNIPEG, March 31 (MarketsFarm) – Intercontinental Exchange (ICE) canola futures were higher at midday Wednesday, recovering somewhat from the steep losses incurred yesterday. A Winnipeg-based trader said canola was struggling in its recovery, expecting prices to be C$6 to C$8 per tonne higher. Especially with the strong increases in the Chicago

Futures markets

ICE canola strengthens ahead of USDA reports

By GFM Network News March 31, 2021

By Phil Franz-Warkentin, MarketsFarm WINNIPEG, March 31 (MarketsFarm) – ICE Futures canola contracts were stronger Wednesday morning, recovering from overnight losses as market participants adjusted positions ahead of a pair of much-anticipated reports from the United States Department of Agriculture. The USDA will release its first survey-based acreage estimates for the 2021 growing season at

Currency markets

Canadian Dollar and Business Outlook: Loonie rises on GDP report

Meanwhile crude oil prices remain lower

By GFM Network News March 31, 2021

Compiled by Glen Hallick, MarketsFarm WINNIPEG, March 31 (MarketsFarm) – The Canadian dollar was higher Wednesday morning, following a Statistics Canada report that said the country’s economy grew by 0.7 per cent in January. As of 8:35 CDT, the Canadian dollar was at US$0.7944 or C$1.2588, compared to Tuesday’s close of US$0.7917 or C$1.2631. Benchmark

Global Markets: Canada’s economy grows in January

By GFM Network News March 31, 2021

WINNIPEG – The following is a glance at the news moving markets in Canada and globally. – Statistics Canada released data on Wednesday showing that Canada’s gross domestic product (GDP) increased by 0.7 per cent in January, compared to 0.1 per cent growth in December. Statistics Canada had previously estimated 0.5 per cent growth in

A man waves an Egyptian flag after the Ever Given, one of the world’s largest container ships, is fully floated on the Suez Canal in Egypt on March 29, 2021. (Photo: Suez Canal Authority handout via Reuters)

Crops, Markets, Pulses

Pulse weekly outlook: Shipping delays aggravate growers, exporters

Montreal longshoremen's strike again possible

By Adam Peleshaty, GFM Network News March 31, 2021

MarketsFarm — On top of disruptions to major supply chains and shipping routes already due to the COVID-19 pandemic, recent events are causing even more headaches for pulse exporters and growers. The six-day blockage of the Suez Canal by the grounded container ship Ever Given caused a major backup of container ships, tankers and other

CBOT November 2021 soybeans with 20-, 40- and 50-day moving averages. (Barchart)

U.S. grains: Soy, corn, wheat futures slide ahead of USDA data

Planting intentions, stocks reports due Wednesday

By GFM Network News, Julie Ingwersen March 31, 2021

Chicago | Reuters — U.S. soy and corn futures fell on Tuesday as traders liquidated positions and booked profits a day ahead of a pair of key crop reports from the U.S. Department of Agriculture, analysts said. Wheat also declined, with a firmer dollar hanging over the market along with spillover from broad weakness in

CME June 2021 lean hogs with Bollinger (20,2) bands. (Barchart)

Livestock, Markets

U.S. livestock: Lean hog futures rise as cash market firms

Rally pauses in CME cattle futures

By GFM Network News, Julie Ingwersen March 31, 2021

Chicago | Reuters — U.S. lean hog futures rose on Tuesday, with the benchmark June contract setting a life-of-contract high on firm cash hog prices and signs of tightening supplies at a time of robust demand for pork, analysts said. On the Chicago Mercantile Exchange, most-active June lean hog futures settled up 0.8 cent at