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Canadian Financial Close: Loonie drops third of a cent

BoC freezes interest rate, keep quantative easing

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Compiled by Glen Hallick, MarketsFarm WINNIPEG, Sept. 8 (MarketsFarm) – The Canadian dollar fell back further on Wednesday, following an announcement by the Bank of Canada. The loonie closed at US$0.7889 or US$1=C$1.2676, compared to Tuesday’s close of US$0.7923 or US$1=C$1.2621. This came after Bank of Canada Governor Tiff Macklem announced its key interest rate
Futures markets

North American Grain/Oilseed Review: Canola settles with small gains after choppy day

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By Phil Franz-Warkentin, MarketsFarm WINNIPEG, Sept. 8 (MarketsFarm) – The ICE Futures canola market was settled with small gains on Wednesday after trading to both sides of unchanged in choppy activity. The Chicago Board of Trade soy complex was also mixed, providing little direction for the canola market. While seasonal harvest pressure was somewhat bearish,
Futures markets

ICE canola up at midday Wednesday

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By Phil Franz-Warkentin, MarketsFarm WINNIPEG, Sept. 8 (MarketsFarm) – The ICE Futures canola market was stronger at midday Wednesday, although activity was choppy as the market reacted to outside influences. Soyoil futures at the Chicago Board of Trade were also experiencing wide price swings, but were higher by midsession. A weaker tone in the Canadian
Global markets

Global Markets: Terror trial begins in France

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By MarketsFarm WINNIPEG, Sept. 8 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally. – Paris is on high alert as the trial of 20 men accused of involvement in the 2015 terror attacks that killed 130 people and injured hundreds more gets underway in the French capital.
Futures markets

ICE Canada Morning Comment: Canola turns lower after overnight gains

Ending stocks more than 1 million tonnes higher

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By Glen Hallick, MarketsFarm WINNIPEG, Sept. 8 (MarketsFarm) – Intercontinental Exchange (ICE) canola futures were slightly lower on Wednesday morning, as the Chicago soy complex was stepping away from its overnight highs, taking the Canadian oilseed with it. However there was some support from increases in Malaysian palm oil and European rapeseed. Statistics Canada released
A Western blot analysis, used to detect specific proteins in tissue samples, is used to confirm BSE in cattle. (Peggy Greb photo courtesy ARS/USDA)
Beef cattle, Livestock, Markets

China’s buyers expect Brazil’s beef back soon despite BSE cases

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Beijing | Reuters — Chinese beef importers said Monday the suspension of exports by top supplier Brazil due to two cases of BSE has had no immediate market impact, with some still making purchases in anticipation of a quick resumption of trade. Brazil said on Saturday it had confirmed two cases of ‘atypical’ bovine spongiform
CME October 2021 live cattle (candlesticks) with 20-, 100- and 200-day moving averages (pink, brown and black lines). (Barchart)
Livestock, Markets

U.S. livestock: CME live cattle touch three-month lows

Demand from packers softening

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Chicago | Reuters — Chicago Mercantile Exchange live cattle futures slid to three-month lows on Tuesday, as beef demand slows, leaving cattle producers with ample supply as packer demand softens, traders said. “Packers are bought for a long ways out — have a lot of inventory,” said Scott Varilek, broker at Kooima Kooima Varilek Trading
CBOT December 2021 corn (candlesticks) with 20-, 50- and 100-day moving averages (yellow, orange and dark green lines). (Barchart)
Crops, Markets

U.S. grains: Corn, soy, wheat slide on stronger U.S. dollar, export concerns

Market awaits USDA crop forecasts ahead of corn, soy harvests

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Chicago | Reuters — Chicago corn, soybean and wheat futures slipped Tuesday as a stronger dollar, export concerns and early U.S. harvest activity weighed on the complex ahead of the U.S. Agriculture Department’s monthly supply and demand report, due out Friday. Analysts anticipate USDA’s Sept. 10 outlook to increase estimates of U.S. corn and soybean
Currency markets

Canadian Financial Close: Loonie drops nearly two-thirds of a cent

Greenback up, crude down, BoC statement tomorrow

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Compiled by Glen Hallick, MarketsFarm WINNIPEG, Sept. 7 (MarketsFarm) – The Canadian dollar was weaker on Tuesday, as the United States dollar gained ground and crude oil prices slipped back. The loonie closed at US$0.7923 or US$1=C$1.2621, compared to Friday’s close of US$0.7988 or US$1=C$1.2518. The decline also came the day before the Bank of

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