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CBOT November 2021 soybeans (candlesticks) with 20-, 50- and 100-day moving averages (yellow, green and black lines). (Barchart)
Crops, Markets, Weather

U.S. grains: Corn, soy, wheat sag as Ida damage spurs export concerns

Traders adjust positions on last day of month

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Chicago | Reuters — U.S. grain and soybean futures touched their lowest prices in weeks on Tuesday as power outages and damage to export facilities from Hurricane Ida stoked concerns about the potential for extended disruptions to shipments, analysts said. Uncertainty over the length of facility closures at the Gulf Coast, which accounts for about
File photo of a steak sandwich with chimichurri sauce at a street food market in Buenos Aires. (Aleksandr_Vorobev/iStock/Getty Images)
Beef cattle, Livestock, Markets

Argentina extends beef export cap, stoking farm tensions

Move seen as 'giving markets to other countries'

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Buenos Aires | Reuters — Argentina extended beef export restrictions until the end of October on Tuesday, stoking tensions with the powerful farm sector as the government seeks to bolster domestic meat supply to help contain rising food prices. The move comes months before key mid-term elections, with centre-left President Alberto Fernandez keen to avoid
Currency markets

Canadian Financial Close: Loonie down after StatCan report

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WINNIPEG – The Canadian dollar dipped on Tuesday after surprising economic news from Statistics Canada. The loonie was at US$0.7926 or US$1=C$1.2617 on Tuesday, compared to Monday’s close at US$0.7935 or US$1=C$1.2603. Earlier today, Statistics Canada reported a 1.1 per cent decline in the economy during the second quarter despite analysts predicting a rise. It
Futures markets

North American Grain and Oilseed Review: Canola finishes mixed for second day

Another day of losses at CBOT

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By Glen Hallick, MarketsFarm WINNIPEG, Aug. 31 (MarketsFarm) – Intercontinental Exchange (ICE) canola futures were mixed on Tuesday, with losses in the front months and gains in the more deferred positions. Declines in the Chicago soy complex and European rapeseed weighed on values, which received a small measure of support from gains in Malaysian palm
Futures markets

ICE Canola Midday: Soy complex, StatCan report holding down prices

14.7 million tonnes of canola seen as bearish

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By Glen Hallick, MarketsFarm WINNIPEG, Aug. 31 (MarketsFarm) – Intercontinental Exchange (ICE) canola futures were lower at midday Tuesday, as they continued to follow the Chicago soy complex to the downside. There were also declines in European rapeseed, but slight gains in Malaysian palm oil. A trader commented there has been a negative bias towards
(Photo courtesy Canada Beef Inc.)
Livestock, Markets

Klassen: Stronger live cattle futures lift yearling market

Recent rains rejuvenate Prairie pastures

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Compared to last week, western Canadian yearling prices were quoted $3 to as much as $6 higher; calf markets once again traded $3-$5 on either side of unchanged depending on the region. Unbridled buying interest was noted on larger groups of high-quality yearlings. Despite the grass conditions this summer, cattle characteristics are rated above average
Global markets

Global Markets: The U.S. leaves Afghanistan

U.S. airlift evacuates 123,000

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Compiled by Glen Hallick, MarketsFarm WINNIPEG, Aug. 31 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally. – After two decades the United States pulled out of Afghanistan on Tuesday, making it the longest war the superpower has fought. During the extensive airlift, the U.S. military estimated they
Futures markets

ICE canola rises Tuesday morning

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By Phil Franz-Warkentin, MarketsFarm WINNIPEG, Aug. 31 (MarketsFarm) – The ICE Futures canola market was stronger Tuesday morning, seeing a correction to start the day amid ideas Monday’s losses were overdone. The tight supply situation was also supportive, as traders continued to react to Monday’s production estimates from Statistics Canada. Canola production was estimated at

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