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Canadian Dollar and Business Outlook: Loonie budges a little

Greenback up, crude oil down

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Compiled by Glen Hallick, MarketsFarm WINNIPEG, June 22 (MarketsFarm) – The Canadian dollar eased back a little on Tuesday morning, as the United States dollar gained some ground and crude oil turned lower. As of 8:41 CDT, the Canadian dollar was at US$0.8071 or C$1.2392 compared to Monday’s close of US$0.8080 or C$1.2377. On the
CME October 2021 feeder cattle (candlesticks) with Bollinger (20,2) bands. (Barchart)
Livestock, Markets

Klassen: Feeder market percolating higher

Weakness in feeder futures seen as temporary hiccup

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Compared to last week, western Canadian yearling prices were $1-$4 higher on average; calves were steady to $2 higher. Limited volume of calves under 600 lbs. made the market hard to define; however, strong demand was surfacing across all weight categories. The weaker Canadian dollar, along with stronger live cattle futures, set a positive tone.
File photo of a container vessel being unloaded at a U.K. port. (Sterling750/iStock/Getty Images)
Markets

Britain begins negotiations to join Trans-Pacific pact

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London | Reuters — Britain will begin negotiations on Tuesday to join a trans-Pacific trade deal that it sees as crucial to its post-Brexit pivot away from Europe and toward geographically more distant but faster-growing economies. The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) removes 95 per cent of tariffs between its members: Japan,
File photo of containers at a seaport in Jakarta. (Leolintang/iStock/Getty Images)
Markets

Canada, Indonesia launch trade pact talks

First round of negotiations expected later this year

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Canada has formally declared it will start negotiations this year on a trade pact with Indonesia, a move ag exporters hope will stabilize and strengthen their market access to the Asia-Pacific region. Canada’s Trade Minister Mary Ng and her Indonesian counterpart Muhammad Lutfi on Sunday declared the launch of negotiations on a comprehensive economic partnership
Nutrien’s potash mine near Rocanville, Sask. (Nutrien.com)
Crops, Markets

Nutrien to further bump up potash output

'Continued tightening' in market cited as potash producer Belarus sanctioned

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Winnipeg | Reuters — Canadian fertilizer producer Nutrien said Monday it would boost its 2021 potash output by 500,000 tonnes, after the European Union and others imposed new trade sanctions on Belarus. Nutrien’s increase takes its potash sales outlook this year to a record-high range of 13.3 million to 13.8 million tonnes, and follows a
CME August 2021 lean hogs (candlesticks) with 20- and 50-day moving averages (pink and brown lines) and August 2021 live cattle (red line). (Barchart)
Livestock, Markets

U.S. livestock: Hogs drop on weaker pork, falling prices in China

Live cattle down with cash beef prices; feeder cattle up as corn eases

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Chicago | Reuters — U.S. lean hog futures fell sharply on Monday, continuing a retreat from multi-year highs set earlier this month as cash pork prices dropped and worries increased about Chinese import demand for U.S. pork. Technical selling and profit-taking have sped the multi-session decline after the actively traded Chicago Mercantile Exchange August lean
Currency markets

Canadian Financial Close: C$ starts week stronger

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By MarketsFarm WINNIPEG, June 21 (MarketsFarm) – The Canadian dollar was stronger on Monday, seeing a modest recovery to start the week after dropping sharply relative to its United States counterpart earlier in the month. The Canadian dollar closed at US$0.8080 or US$1=C$1.2377 on Monday, which compares with Friday’s North American close of US$0.8052 or
CBOT July 2021 soybeans (candlesticks) with Bollinger bands (20,2) and November 2021 soybeans (yellow line). (Barchart)
Crops, Markets, Weather

U.S. grains: Soybeans firm on long-term forecast, China demand

Wheat mixed on winter crop harvest, spring wheat drought

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Chicago | Reuters — U.S. soybean futures advanced on Monday on renewed buying by China and as concerns lingered about dry conditions in western portions of the Midwest farm belt despite scattered storms over the weekend. Corn futures were mostly lower as rain in the central corn belt boosted crop prospects, while wheat was mixed
Futures markets

North American Grain and Oilseed Review: An about-face for new crop canola

U.S. markets have different views towards weather

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By Glen Hallick, MarketsFarm WINNIPEG, June 21 (MarketsFarm) – Intercontinental Exchange (ICE) canola futures saw the new crop contracts go from losses to gains on Monday. After dropping to the daily limit earlier in the session, old crop July recovered half of its losses. Support came from increases in Chicago soybeans and soyoil, along with

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