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Canadian Dollar and Business Outlook: Loonie dips after inflation report

Support from lower US dollar, higher oil prices

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Compiled by Glen Hallick, MarketsFarm WINNIPEG, Sept. 15 (MarketsFarm) – The Canadian dollar was relatively steady on Wednesday morning, as the downward pressure from the Statistics Canada report on inflation was largely countered by support from a lower United States dollar and increases in crude oil prices. As of 8:35 CDT, the Canadian dollar was
CME December 2021 lean hogs (candlesticks) with 20-, 50- and 100-day moving averages (pink, brown and black lines). (Barchart)
Livestock, Markets

U.S. livestock: CME hogs hit six-month lows

Chicago cattle futures rebound

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Chicago | Reuters — Chicago Mercantile Exchange lean hog futures dropped to their lowest prices in more than six months on Tuesday, while cattle futures recovered a day after hitting June lows on concerns about a fire at a major Nebraska beef plant. The hog market extended recent losses under pressure from concerns about the
CBOT December 2021 wheat (candlesticks) with 20-, 50- and 100-day moving averages (yellow, orange and dark green lines). (Barchart)
Crops, Markets

U.S. grains: Wheat firms on global supply cuts

Corn inches higher as U.S. crop ratings decline

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Chicago | Reuters — Chicago wheat futures firmed two per cent on Tuesday, strengthened by global supply concerns amid strong demand, while a weaker U.S. dollar supported U.S. trade. Corn inched higher after a weekly decline in U.S crop conditions reported by the U.S. Agriculture Department (USDA). Soybeans traded both sides of even before easing
Currency markets

Canadian Financial Close: Loonie unchanged, TSX falls

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WINNIPEG – The Canadian dollar stayed flat on Tuesday just one day before Statistics Canada releases its inflation data for August. The loonie was at US$0.7898 or US$1=C$1.2661 on Tuesday. Meanwhile, the United States Dollar Index was down 0.03 of a point at 92.65. Benchmark crude oil prices were mixed on Tuesday. Brent crude oil
Futures markets

North American Grain and Oilseed Review: Canola up, but well off of highs

Gains for U.S. corn, wheat, as soybeans dip

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By Glen Hallick, MarketsFarm WINNIPEG, Sept. 14 (MarketsFarm) – Intercontinental Exchange (ICE) canola futures were stronger on Tuesday, but backed well away from earlier highs. At one point the November contract reached C$900.00 per tonne. Support came from the Statistics Canada production update, which lowered 2021/22 canola production from 14.7 million tonnes last month to
File photo of a pea crop south of Ethelton, Sask. on Aug. 1, 2019. (Dave Bedard photo)
Crops, Markets, Pulses, Weather

Pulse weekly outlook: Small Canadian crops lead to marketing shift

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MarketsFarm — Canadian pulse markets could see a ‘radical shift’ in the current crop year as drought conditions led to sharp reductions in pea and lentil production. Statistics Canada’s September principal field crop estimates, released Tuesday, and the previous report on Aug. 30 were determined by yield models using satellite imagery. MarketsFarm Pro analyst Mike
Futures markets

ICE Canola Midday: Prices get bump from StatCan update

Production falls from 14.7 million to 12.8 million tonnes

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By Glen Hallick, MarketsFarm WINNIPEG, Sept. 14 (MarketsFarm) – Intercontinental Exchange (ICE) canola futures were stronger at midday Tuesday, but those gains have moderated from the earlier sharp upticks that followed the release of Statistics Canada’s production update. In its latest principal field crops report, Statistics Canada slashed 2021/22 canola production to about 12.8 million
Global markets

Global Markets: Hurricane Nicholas makes landfall

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WINNIPEG – The following is a glance at the news moving markets in Canada and globally. – Hurricane Nicholas, which has since been downgraded as a tropical storm, made landfall in Texas early Tuesday morning. The system is expected to bring up to 50 centimetres of rain, winds up to 110 kilometres per hour, and
Futures markets

ICE canola jumps higher as production drops

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By Phil Franz-Warkentin, MarketsFarm WINNIPEG, Sept. 14 (MarketsFarm) – The ICE Futures canola market was sharply higher Tuesday morning, as the market reacted to declining production estimates from Statistics Canada. The government agency lowered their estimate on the size of the 2021/22 canola crop to 12.8 million tonnes. That was down by nearly two million

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