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CBOT December 2021 corn (candlesticks) with MGEX, CBOT and K.C. December 2021 wheats (dark green, yellow and orange lines). (Barchart)

U.S. grains: Corn, soy surge as U.S. farmers plant fewer acres than expected

Traders had expected more U.S. corn, soy acres

By GFM Network News, Tom Polansek June 30, 2021

Chicago | Reuters — Chicago Board of Trade grain and soybean futures surged on Wednesday after the U.S. Department of Agriculture surprised traders with lower-than-expected plantings estimates and inventory data. Corn climbed by their daily exchange-imposed limit after USDA pegged plantings of the crop at 92.692 million acres, below analysts’ expectations for 93.787 million. The

Currency markets

Canadian Financial Close: Loonie takes small loss

U.S. greenback continues to climb bit by bit

By GFM Network News June 30, 2021

Compiled by Glen Hallick, MarketsFarm WINNIPEG, June 30 (MarketsFarm) – The Canadian dollar eased back on Wednesday, as the United States dollar edged higher. The loonie closed at US$0.8068 or US$1=C$1.2394, compared to Tuesday’s close of US$0.8075 or US$1=C$1.2384. On the U.S. Dollar Index the greenback was up 0.299 at 92.340 points. Benchmark crude oil

Futures markets

North American Grain/Oilseed Review: Canola rallies with soy complex

By GFM Network News June 30, 2021

By Phil Franz-Warkentin, MarketsFarm WINNIPEG, June 30 (MarketsFarm) – The ICE Futures canola market was stronger on Wednesday, as a rally in the Chicago Board of Trade soy complex on the back of a pair of bullish reports provided support. Acreage and quarterly stocks numbers from the United States Department of Agriculture sparked a rally

Futures markets

ICE Midday: New crop canola sells off ahead of USDA report

By GFM Network News June 30, 2021

WINNIPEG – New crop contracts in the ICE Futures canola market were in liquidation mode at midday Wednesday as traders positioned themselves before the United States Department of Agriculture released its acreage report. New crop canola contracts were dropping by more than C$20 per tonne. One Winnipeg-based trader explained that Statistics Canada’s acreage report released

Global Markets: New records set in Canadian heat wave

By GFM Network News June 30, 2021

By MarketsFarm WINNIPEG, June 30 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally. – Records for the hottest temperatures ever recorded in Canada continued to be set, with Lytton, B.C. marking a daytime high of 49.6 Celsius on Tuesday, June 29. The village, located in the Fraser

Currency markets

Canadian Dollar and Business Outlook: Loonie steady as GDP data beats expectations

By GFM Network News June 30, 2021

WINNIPEG – The Canadian dollar held steady on Wednesday after Statistics Canada reported a small contraction in the national economy in April and May. As of 8:39 a.m. CDT, the loonie was at US$0.8077 or US$1=C$1.2380 on Wednesday, compared to US$0.8075 or US$1=C$1.2384 when markets closed on Tuesday. Earlier today, Statistics Canada announced that Canada’s

Futures markets

ICE Canada Morning Comment: Canola turns lower with other oils

Canadian markets closed Thursday for Canada Day

By GFM Network News June 30, 2021

By Glen Hallick, MarketsFarm WINNIPEG, June 30 (MarketsFarm) – Intercontinental Exchange (ICE) canola futures were pulling back on Wednesday morning, after new crop contracts hit fresh highs yesterday. Ahead of today’s trading, ICE lowered the daily limit for canola to C$30 per tonne. There were declines in Chicago soybeans and soyoil, as well as European

Chickpeas. (Grigorenko/iStock/Getty Images Plus)

Crops, Markets, Pulses

Pulse weekly outlook: StatsCan acres see little change

By Adam Peleshaty, GFM Network News June 30, 2021

MarketsFarm — Canadian pea and lentil acres only saw slight adjustments in the latest acreage estimates Tuesday from Statistics Canada, with little market news to draw in extra area since the previous report in April. “When you see all the hard commodities, their prices are fantastic. That’s the main reason why growers switch,” said Marcos

CBOT November 2021 soybeans (candlesticks) with 20- and 100-day moving averages (green and black lines) and ICE November 2021 canola (yellow line, left column). (Barchart)

U.S. grains: Corn, soy mixed ahead of plantings, stocks reports

Canadian farmers expand canola acres

By GFM Network News, Tom Polansek June 30, 2021

Chicago | Reuters — Chicago Board of Trade corn and soybean futures were mixed on Tuesday as traders adjusted positions ahead of key U.S. reports on crop plantings and inventories. The U.S. Department of Agriculture on Wednesday is expected to increase its estimate for corn plantings by about three per cent from March, according to

CME August 2021 lean hogs (candlesticks) with 20- and 100-day moving averages (pink and brown lines) and August 2021 live cattle (dark red line). (Barchart)

U.S. livestock: Lean hog futures touch one-week high

CME August live cattle up

By GFM Network News, Tom Polansek June 30, 2021

Chicago | Reuters — Chicago Mercantile Exchange lean hog futures touched a one-week high on Tuesday in a rebound from recent losses, while live cattle futures were mixed. The hog market is recovering after dropping last week to a nine-week low, traders said. Hopes for improved export demand helped support prices, traders said. CME August