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Futures markets

ICE Canada Morning Comment: Canola pulling back

Lower values in comparable veg oils

By GFM Network News August 12, 2021

By Glen Hallick, MarketsFarm WINNIPEG, Aug. 12 (MarketsFarm) – Intercontinental Exchange (ICE) canola futures were lower on Thursday morning, erasing much of the gains made yesterday. There were declines in the Chicago soy complex, as well as European rapeseed and Malaysian palm oil. Also, the ICE canola crush margins pulled back with the upfront contracts

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Beef cattle, Hogs, Livestock, Markets

U.S. livestock: CME hogs end mostly higher on bargain buying, cattle drift lower

By GFM Network News, Julie Ingwersen August 11, 2021

Chicago | Reuters – Lean hog futures on the Chicago Mercantile Exchange closed mostly higher on Wednesday as bargain-buying and firmer wholesale pork prices helped the benchmark October contract rebound from a one-month low set a day earlier. CME October lean hogs settled up 1.975 cents at 85.850 cents per pound and December hogs rose

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U.S. grains: CBOT wheat stabilizes after rally as traders await U.S. crop data

By GFM Network News, Tom Polansek August 11, 2021

Chicago | Reuters – Chicago Board of Trade wheat futures stabilized on Wednesday as traders adjusted positions ahead of a U.S. government crop report, a day after prices jumped on concerns about tightening global inventories. The U.S. Department of Agriculture is set to issue an update on global grain supplies and demand in a monthly report on

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Pulse weekly outlook: Harvesting begins for Alberta pulses

By Adam Peleshaty, GFM Network News August 11, 2021

MarketsFarm – After a hot and dry summer which scorched all of Western Canada, pulses are ready to come off the fields in Alberta. “The south is going pretty strong. South of Calgary is already pretty much done on peas. Quite a bit of lentils would be done already, too,” said Alberta Pulse Growers chair

ICE weekly outlook: Major canola supply issues ahead

By GFM Network News, Glen Hallick - MarketsFarm August 11, 2021

MarketsFarm – There’s a looming problem that’s on the verge of surfacing in the Canadian canola market – many growers will be unable to fulfill their contracts due to lower production. The drought across the Prairies dashed canola production estimates from the initially anticipated 20 million tonnes, to something that could be in the range

Currency markets

Canadian Financial Close: Loonie, oil on the rise

By GFM Network News August 11, 2021

WINNIPEG, August 11 (MarketsFarm) – The Canadian dollar nearly reached 80 cents United States on Wednesday on the strength of rising oil prices. The loonie was at US$0.7996 or US$1=C$1.2506 on Wednesday, up from Tuesday’s close at US$0.7974 or US$1=C$1.2540. The United States Dollar Index was down 0.16 points at 92.90. Benchmark crude oil prices

Futures markets

North American Grain and Oilseed Review: Canola gets a bounce

As U.S. soybeans, corn rise, wheat steps back

By GFM Network News August 11, 2021

By Glen Hallick, MarketsFarm WINNIPEG, Aug. 11 (MarketsFarm) – Intercontinental Exchange (ICE) canola futures finished higher on Wednesday, due to spillover from comparable edible oils and improvements in crush margins. There were solid gains in European rapeseed and Malaysian palm oil, as well as in Chicago soybeans and soyoil. However the latter two pulled back

Futures markets

ICE Canola Midday: Comparable oils boost prices

Crush margins come away from historic lows

By GFM Network News August 11, 2021

By Glen Hallick, MarketsFarm WINNIPEG, Aug. 11 (MarketsFarm) – Intercontinental Exchange (ICE) canola futures were stronger at midday Wednesday, as they continued to benefit from upticks in comparable oils. Chicago soyoil was up by well over one cent per pound, however gains in soybeans pulled back from earlier highs. Malaysian palm oil and European rapeseed

Currency markets

Canadian Dollar and Business Outlook: Loonie approaches 80 cents U.S.

By GFM Network News August 11, 2021

WINNIPEG, August 11 (MarketsFarm) – The Canadian dollar moved back above the 80-cent United States mark on Wednesday despite falling oil prices. As of 8:40 a.m. CDT, the loonie was at US$0.8001 or US$1=C$1.2498, compared to US$0.7974 or US$1=C$1.2540 when markets closed on Tuesday. Crude oil dropped on Wednesday. Brent crude oil slipped US$0.71 per

Futures markets

ICE Canada Morning Comment: Canola increasing by double digits

Catching spillover from other edible oils

By GFM Network News August 11, 2021

By Glen Hallick, MarketsFarm WINNIPEG, Aug. 11 (MarketsFarm) – Intercontinental Exchange (ICE) canola futures were stronger on Wednesday morning, benefitting from spillover from other edible oils. Chicago soybeans and soyoil were significantly higher, along with good increases in European rapeseed and Malaysian palm oil, although Chicago soymeal was moderately lower. Manitoba Agriculture and Resource Development