Markets & Farming Articles - Manitoba Co-operator

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CBOT March 2021 corn with 20-, 50- and 100-day moving averages. (Barchart)

U.S. grains: Corn soars four per cent on fresh sales to China

Chicago soy, wheat also climb

By GFM Network News, Julie Ingwersen January 27, 2021

Chicago | Reuters — U.S. corn futures surged four per cent on Tuesday as news of fresh export sales to China re-ignited concerns about tightening U.S. and global grain supplies, analysts said. Soybeans followed corn higher, with worries about a slow start to the Brazilian soy harvest lending support. Wheat firmed on supply concerns and

CME June 2021 live cattle with 20-, 50- and 100-day moving averages. (Barchart)

Livestock, Markets

U.S. livestock: Rising beef prices buoy CME live cattle futures

Colder spell in U.S. Midwest, Plains lifts hogs

By GFM Network News, Julie Ingwersen January 27, 2021

Chicago | Reuters — U.S. live cattle futures rose on Tuesday for a fourth straight session, with deferred months setting life-of-contract highs as robust demand for beef lifted packer profit margins and bolstered demand for market-ready cattle, traders said. Chicago Mercantile Exchange April live cattle futures settled up 0.15 cent at 123.1 cents/lb., while June

Currency markets

Canadian Financial Close: Loonie gains about two-tenths

U.S. greenback slightly lower

By GFM Network News January 26, 2021

By MarketsFarm WINNIPEG, Jan. 26 (MarketsFarm) – The Canadian dollar was higher on Tuesday, as its United States counterpart eased back. The loonie finished at US$0.7873 or US$1=C$1.2702, compared to Monday’s close of US$0.7851 or US$1=C$1.2738. On the U.S. Dollar Index, the greenback lost 0.223 at 90.150 points. Benchmark crude oil prices were mixed on

Futures markets

North American Grain/Oilseed Review: Canola hits new multi-year highs

By GFM Network News January 26, 2021

By Phil Franz-Warkentin, MarketsFarm WINNIPEG, Jan. 26 (MarketsFarm) – The ICE Futures canola market was stronger on Tuesday, hitting new multi-year highs in the front months before running into resistance. The most active March contract was up by its C$30 per tonne daily limit at one point during the day, moving above C$700 per tonne

Futures markets

ICE canola up sharply at midday, but off early highs

By GFM Network News January 26, 2021

By Phil Franz-Warkentin, MarketsFarm WINNIPEG, Jan. 26 (MarketsFarm) – The ICE Futures canola market was stronger at midday Tuesday, but well off the limit-up gains posted earlier in the session. The most active March contract was up by its C$30 per tonne daily limit at one point, moving above C$700 per tonne in the front

Currency markets

Canadian dollar and business outlook

By GFM Network News January 26, 2021

By MarketsFarm WINNIPEG, Jan. 26 (MarketsFarm) – The Canadian dollar was showing some modest strength Tuesday morning, recovering from the one-week lows relative to its United States counterpart hit on Monday. At 8:51 CST Tuesday morning the Canadian dollar was at US$0.7873 or US$1=C$1.2702 which compares with Monday’s North American close of US$0.7851 or US$1=C$1.2738.

Futures markets

ICE Canada Morning Comment: Canola breaks C$700/tonne

Strong gains in Chicago soy complex

By GFM Network News January 26, 2021

By Glen Hallick, MarketsFarm WINNIPEG, Jan. 26 (MarketsFarm) – Intercontinental Exchange (ICE) Futures canola contracts hit new contract highs on Tuesday morning, getting spillover support from the Chicago soy complex. Earlier in the session the March contract peaked at C$703.60 per tonne. There was additional support from gains in European rapeseed and Malaysian palm oil.

Global Markets: Canada asks for ‘Buy American’ exemption

By GFM Network News January 26, 2021

WINNIPEG, Jan. 26 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally. – Canada’s Deputy Prime Minister Chrystia Freeland told CBC on Monday both Prime Minister Justin Trudeau and United States President Joe Biden have discussed the possibility of Canada being exempt from Biden’s newly-implemented “Buy American” provision.

(Photo courtesy Canada Beef Inc.)

Livestock, Markets

Klassen: Feeder cattle demand improving

By GFM Network News, Jerry Klassen January 26, 2021

The feeder market received a shot of adrenaline last week as corn futures came under pressure while live cattle futures surged. During the first half of the week, western Canadian yearlings were quite sluggish and calf prices steady to $3 lower compared to seven days earlier. Some yearling packages moving direct off-farm in certain areas

(Dave Bedard photo)

Feds predict three per cent increase in canola acres

Stocks nevertheless expected to tighten

By GFM Network News, Phil Franz-Warkentin January 26, 2021

MarketsFarm — Canadian farmers will seed more canola in the upcoming 2021-22 crop year, but solid demand will still cause ending stocks to tighten, according to the first new-crop supply/demand projections from Agriculture and Agri-Food Canada (AAFC), released Monday. The department forecast seeded canola area in the spring of 2021 at 21.37 million acres, up