Markets & Farming Articles - Manitoba Co-operator

ICE canola weaker Wednesday morning

By GFM Network News July 28, 2021

By Phil Franz-Warkentin, MarketsFarm WINNIPEG, July 28 (MarketsFarm) – The ICE Futures canola market was weaker Wednesday morning, seeing some follow-through selling after Tuesday’s late turn lower. Speculative positioning was a feature, with the underlying fundamentals still supportive for canola. Scattered thunderstorm activity was bringing moisture to some dry areas of the Prairies, although the

Currency markets

Canadian Dollar and Business Outlook: Loonie drops after inflation report

By GFM Network News July 28, 2021

WINNIPEG – The Canadian dollar retreated on Wednesday after Statistics Canada reported the annual inflation rate in June was 3.1 per cent, lower than the 3.6 per cent reported for May. As of 8:49 a.m. CDT, the loonie was at US$0.7940 or US$1=C$1.2594, compared to US$0.7950 or US$1=C$1.2578 when markets closed on Tuesday. Crude oil

Global markets

Global Markets: Canada’s inflation rate 3.1 per cent in June

By GFM Network News July 28, 2021

WINNIPEG – The following is a glance at the news moving markets in Canada and globally. – Statistics Canada announced on Wednesday that the annual rate of inflation was 3.1 per cent in June, lower than the 3.6 per cent recorded in May. Excluding gasoline prices, which increased 32 per cent year-to-year in June, the

Beef cattle, Hogs, Livestock, Markets

U.S. livestock: Profit-taking drags down CME livestock futures

By GFM Network News, Tom Polansek July 27, 2021

Chicago | Reuters – Chicago Mercantile Exchange live cattle futures fell on Tuesday after rising to their highest price in more than three weeks, while feeder cattle pulled back from contract highs on Monday. Lean hog futures also weakened as traders took money off the table after recent gains. Traders said profit-taking hit cattle markets

Crops, Markets

U.S. grains: Soybeans rise for second day after U.S. crop conditions report

By GFM Network News, Stephanie Kelly July 27, 2021

New York | Reuters – Chicago soybean rose for a second consecutive session on Tuesday, after a weekly U.S. government report showed crop conditions deteriorated unexpectedly last week. Corn and wheat both fell as traders took profits at midday after prices rose in the session. “It’s a trading range without much conviction,” said Brian Hoops,

Currency markets

Canadian Financial Close: C$ weakens ahead of Fed announcement

By GFM Network News July 27, 2021

By MarketsFarm WINNIPEG, July 27 (MarketsFarm) – The Canadian dollar was slightly weaker on Tuesday, as weakness in Chinese equity markets and general economic uncertainty had investors booking profits. The Canadian dollar closed at US$0.7950 or US$1=C$1.2578 on Tuesday, which compares with Monday’s North American close of US$0.7969 or US$1=C$1.2549. Positioning ahead of Wednesday’s interest

Futures markets

North American Grain/Oilseed Review: Canola ends lower after choppy day

By GFM Network News July 27, 2021

By Phil Franz-Warkentin, MarketsFarm WINNIPEG, July 27 (MarketsFarm) – The ICE Futures canola market settled with small losses on Tuesday after posting gains for most of the session. Hot and dry Prairie forecasts provided underlying support, but those weather concerns have been priced into the market for some time and canola ran into resistance. Production

Cereals, Markets, News

Strategie Grains lifts EU grain crop and export forecasts

By Reuters July 27, 2021

Consultant Strategie Grains has further increased its monthly production forecasts for all three major cereals in the European Union in the current 2021-22 season, which it said will help the bloc to meet higher projected demand on the global market. However, the consultancy also echoed mounting concerns over the potential impact on grain quality from

Futures markets

ICE canola underpinned by weather concerns

By GFM Network News July 27, 2021

By Phil Franz-Warkentin, MarketsFarm WINNIPEG, July 27 (MarketsFarm) – The ICE Futures canola market was stronger at midday Tuesday, as hot and dry Prairie weather provided support. Forecasts over the next week show only minimal chance of precipitation, with hot temperatures likely to keep cutting into yield prospects. Production is generally expected to be down

Beef cattle, Livestock, Markets

Klassen: Feed barley rally pressures feeder cattle market

By GFM Network News, Jerry Klassen July 27, 2021

Compared to last week, Western Canadian yearling steers traded $4 to $8 lower while heifers were down $2 to $4. Calves traded $5 to as much as $10 below week-ago levels. Feed barley in the Lethbridge area traded in the range of $390/tonne to as high as $415/tonne, up $25-$30/tonne from seven days earlier. Crop

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Markets

ICE canola weaker Wednesday morning

Canadian Dollar and Business Outlook: Loonie drops after inflation report

Global Markets: Canada’s inflation rate 3.1 per cent in June

U.S. livestock: Profit-taking drags down CME livestock futures

U.S. grains: Soybeans rise for second day after U.S. crop conditions report

Canadian Financial Close: C$ weakens ahead of Fed announcement

North American Grain/Oilseed Review: Canola ends lower after choppy day

Strategie Grains lifts EU grain crop and export forecasts

ICE canola underpinned by weather concerns

Klassen: Feed barley rally pressures feeder cattle market

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