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A vineyard at Naramata in B.C.’s Okanagan Valley. (File photo by Dave Bedard)
Markets

B.C. again waives ag income threshold for farm properties

Some farms otherwise risked property tax reclassification

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British Columbia farmers who’ve taken pandemic-induced losses in farm income will be able to keep their farm properties classified as such for another tax year. The province on Monday announced that for the second year running, it will waive the minimum farm income thresholds normally required for B.C. properties to be classified as farms for
CME August 2021 live cattle (candlesticks) with 20-day moving average (dark red line), CME July 2021 lean hogs (pink open/high/low/close) and CME lean hog index (black line). (Barchart)
Livestock, Markets

U.S. livestock: Live cattle up on bargain-buying

CME lean hogs mostly lower; feeder cattle down on corn's bounce

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Chicago | Reuters — U.S. live cattle futures firmed on bargain-buying on Friday after a steep plunge a day earlier, with expectations of steady to higher cash cattle prices next week adding support, traders said. “The market is chopping around but it looks like it needs to go back to the upside to price in
CBOT July 2021 corn (candlesticks) with CBOT July 2021 wheat (orange line) and July 2021 soybeans (dark green line, left column). (Barchart)
Crops, Markets, Weather

U.S. grains: Corn, soy, wheat up after sell-off

Some traders feel Thursday's sell-off overdone

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Chicago | Reuters — U.S. corn, soybean and wheat futures rose sharply on Friday, rebounding from steep declines a day earlier on bargain-buying ahead of the weekend and uncertainty about weather in the Midwest crop belt, analysts said. Fresh export interest lent support as this week’s break in futures appeared to stimulate demand. Chinese state-owned
Currency markets

Canadian Financial Close: Loonie, TSX drop to end week

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WINNIPEG – The Canadian dollar fell to its lowest level in eight weeks on Friday against a strengthening United States dollar. The loonie was at US$0.8052 or US$1=C$1.2419 on Friday, down from Thursday’s close at US$0.8103 or US$1=C$1.2341. Meanwhile, the U.S. Dollar Index jumped 0.39 points at 92.28. On Wednesday, United States Federal Reserve Chair
Futures markets

North American Grain/Oilseed Review: Canola mostly higher, correcting from recent losses

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By Phil Franz-Warkentin, MarketsFarm WINNIPEG, June 18 (MarketsFarm) – The ICE Futures canola market was mostly higher on Friday, with only the lightly traded July contract still posting losses as the old/new crop spread narrowed in. Chart-based buying on ideas yesterday’s selloff was overdone contributed to the gains, as the November contract bounced off its
Increasing feed costs could temper cattle market strength
Livestock Markets, Markets

Increasing feed costs could temper cattle market strength

Strength in the Canadian dollar may also drag on beef cattle traffic

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Prices for cattle moving through Manitoba’s auction yards held relatively steady during the week ended June 11, although activity was slowing down for the summer. Good rains during the week across much of the province should help ease concerns over dry pastures and forage crops, although more moisture will be needed going forward. Strong demand for beef has
Currency markets

Canadian dollar and business outlook

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By MarketsFarm WINNIPEG, June 18 (MarketsFarm) – The Canadian dollar was weaker Friday morning, as ongoing strength for the United States dollar internationally continued to influence the world currency markets after the U.S. Federal Reserve took a more hawkish stance on future interest rate moves earlier this week. At 8:48 a.m. CDT Friday morning, the
Global markets

Global Markets: U.S. oil output to be limited: OPEC+

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WINNIPEG, June 18 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally. – Reports state that oil industry experts have told OPEC+ members that oil output from the United States will remain limited this year despite rising prices, according to sources within the organization. This is in anticipation

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