ICE canola continues higher Friday morning

By Phil Franz-Warkentin, MarketsFarm WINNIPEG, Aug. 6 (MarketsFarm) – The ICE Futures canola market was stronger Friday morning, as ongoing concerns over the size of this year’s Canadian crop kept prices well supported. Gains in Chicago Board of Trade soybeans and a softer tone in the Canadian dollar were also supportive. However, soyoil was holding

Global Markets: Canada adds 94,000 jobs in July

WINNIPEG – The following is a glance at the news moving markets in Canada and globally. – A report from Statistics Canada released on Friday revealed that 94,000 jobs were added to the country’s workforce in July as COVID-19 restrictions were loosened nationwide. The unemployment rate in Canada was reduced to 7.5 per cent during


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U.S. grains: Corn, soy firm on demand strength

Chicago | Reuters – Chicago corn and soybeans climbed on Thursday on stronger export sales, though gains were capped by rainfall across parts of the U.S. Midwest. Wheat traded near even before ending slightly lower, supported by firmer grains complex and distressed crops across North America. The market also awaits the U.S. Department of Agriculture monthly

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U.S. livestock: CME lean hogs fall on anticipated larger supplies

Chicago | Reuters – Chicago Mercantile Exchange lean hog futures slipped on Thursday as traders look ahead to increased supplies of hogs heading into the fall and producers hedge against the possibility of future price declines, traders said. CME August lean hog futures closed unchanged at 109.475 cents per pound, while benchmark October hogs lost


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Bayer Q2 misses forecasts as costs, forex effects bite

Frankfurt | Reuters – Bayer shares fell to their lowest levels in more than seven months after the German agricultural and pharmaceuticals group reported lower-than-expected second-quarter core earnings due to higher production costs and currency headwinds. Second-quarter earnings before interest, tax, depreciation and amortisation (EBITDA) before special items fell 10.6 percent to 2.58 billion euros ($3.05 billion),

Canadian Financial Close: C$ strengthens

By MarketsFarm WINNIPEG, Aug. 5 (MarketsFarm) – The Canadian dollar was stronger on Thursday, underpinned by improving trade data. The Canadian dollar settled at US$0.8002 or US$1=C$1.2497 on Thursday, which compares with Wednesday’s North American close of US$0.7971 or US$1=C$1.2545. The value of Canadian exports jumped up by 8.7 per cent in June to hit



How low will canola yield go?

How low will canola yield go?

Canola has certainly suffered under drought. How much is yet to be seen

Hot and dry weather across most of the major North American growing regions remained the major topic of discussion in the grain and oilseed futures markets during the last week of July. The drought will certainly cut into the size of this year’s canola crop, but by how much? The 19.9-million-tonne forecast by Agriculture and


ICE canola holding onto gains in choppy trade

By Phil Franz-Warkentin, MarketsFarm WINNIPEG, Aug. 5 (MarketsFarm) – The ICE Futures canola market was stronger at midday Thursday, although activity was thin and choppy. The hot and dry weather through the growing season has cut into the size of this year’s canola crop, keeping prices well supported. However, actual yields remain to be seen

Canadian Dollar and Business Outlook: Loonie making inroads

WINNIPEG – The Canadian dollar was approaching the 80-cent United States mark on Thursday. As of 9:02 a.m. CDT, the loonie was at US$0.7999 or US$1=C$1.2501, compared to US$0.7971 or US$1=C$1.2545 when markets closed on Wednesday. Crude oil made slight gains on Thursday. Brent crude oil increased US$0.13 per barrel to US$70.51. West Texas Intermediate