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Canadian Financial Close: Loonie falls, oil surges

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WINNIPEG – The Canadian dollar fell to its lowest level in weeks on the day before the United States Federal Reserve decides on its policy statement. The loonie was at US$0.8205 or US$1=C$1.2188 on Tuesday, down from Monday’s close at US$0.8236 or US$1=C$1.2142. Meanwhile, the U.S. Dollar Index held steady at 90.51 points. The Fed
Futures markets

North American Grain/Oilseed Review: Canola continues lower

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By Phil Franz-Warkentin, MarketsFarm WINNIPEG, June 15 (MarketsFarm) – The ICE Futures canola market was weaker for the third-straight session on Tuesday, taking some direction from Chicago Board of Trade soybeans. Recent rains across Western Canada have helped take some of the weather premium out of the market. However, the downtrend was showing signs of
Futures markets

ICE Midday: Canola prices slightly dip

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WINNIPEG – The ICE Futures canola market weakened in both old and new crop contracts at midday Tuesday in concert with soybeans, but losses stayed within the single digits. Old crop soybeans fell less than five cents per bushel on Tuesday and none of the new crop contracts fell more than 20 cents/bu. Meanwhile, soyoil
Futures markets

Canadian dollar and business outlook

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By MarketsFarm WINNIPEG, June 15 (MarketsFarm) – The Canadian dollar was weaker Tuesday morning, with sharp losses in copper said to be behind some of the weakness in the currency. Positioning ahead of the latest interest rate policy announcement from the United States Federal Reserve on Wednesday was another feature in the financial markets. At
Global markets

Global Markets: Canadian housing starts on the rise

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WINNIPEG – The following is a glance at the news moving markets in Canada and globally. – Canada Mortgage and Housing Corp. (CMHC) reported today that the annual pace of housing starts, including apartments, condominiums and multiple-unit housing projects, rose 3.2 per cent in May compared to April. The annual pace of urban starts was
Futures markets

ICE Canada Morning Comment: Canola continues to pull back

Good weather brings lower prices

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By Glen Hallick, MarketsFarm WINNIPEG, June 15 (MarketsFarm) – Intercontinental Exchange (ICE) canola futures were lower on Tuesday morning, due to the Prairie weather. Above normal temperatures are expected across much of the region today with cooler weather to follow in the coming days. As the week progresses, any rain for the Prairies will be
(Photo courtesy Canada Beef Inc.)
Livestock, Markets

Klassen: Feeder market heating up

Volumes thin with auction barns in holiday mode

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Compared to last week, western Canadian yearling steers traded $3-$4 higher while yearling heifers were steady to $2 higher. Mid-weight calves or young yearlings from 600 to 800 lbs. were $3-$5 higher on average. Calves under 600 lbs. were relatively unchanged. Favourable rains across the Prairies have enhanced crop prospects for barley and wheat. April
CME August 2021 live cattle (candlesticks) with 20- and 100-day moving averages (brown and black lines) and CME August 2021 lean hogs (pink line). (Barchart)
Livestock, Markets

U.S. livestock: Cattle futures climb as corn prices cool

Lean hogs end lower

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Chicago | Reuters — Chicago Mercantile Exchange (CME) live cattle futures rose on Monday, reaching a one-month top as falling prices for feed grains lifted feeder cattle futures, traders said. CME August live cattle futures settled up 1.25 cents at 121.275 cents/lb. after reaching 121.575 cents, the contract’s highest since May 13. August feeder cattle
Currency markets

Canadian Financial Close: Loonie steady despite manufacturing data

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WINNIPEG – The Canadian dollar mostly held steady on Monday despite underwhelming manufacturing data from Statistics Canada released earlier today. The loonie was at US$0.8236 or US$1=C$1.2142 on Monday, up from Friday’s close at US$0.8232 or US$1=C$1.2148. Meanwhile, the United States Dollar Index only slipped 0.05 points to 90.51. Statistics Canada reported that manufacturing sales

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