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CME July 2021 lean hogs (candlesticks) with 10- and 50-day moving averages (pink and black lines) and June 2021 lean hogs (dark red line). (Barchart)

Livestock, Markets

U.S. livestock: Front-month hogs hit seven-year high in thin trade

August live cattle up, feeders lower

By GFM Network News, Mark Weinraub June 9, 2021

Chicago | Reuters — Chicago Mercantile Exchange (CME) lean hog futures ended mixed on Wednesday, with the thinly traded June contract rising to a seven-year high as strong domestic demand continues to underpin prices even as export prospects wane, traders said. The most-active hog futures contract eased on profit-taking but remained near the peak it

Currency markets

Canadian Financial Close: C$ steady

By GFM Network News June 9, 2021

By MarketsFarm WINNIPEG, June 9 (MarketsFarm) – The Canadian dollar held steady on Wednesday, seeing little reaction as the Bank of Canada left its key overnight interest rate unchanged at 0.25 per cent. In the accompanying statement, the Bank said it expected increasing vaccination rates in the country would help the economy “rebound strongly.” The

Futures markets

North American Grain and Oilseed Review: Canola slips back

Chicago soy complex weakens

By GFM Network News June 9, 2021

By Glen Hallick, MarketsFarm WINNIPEG, June 9 (MarketsFarm) – Intercontinental Exchange (ICE) canola futures were lower on Wednesday, as rain fell on parts of the eastern Prairies. Coupled with that were declines in the Chicago soy complex plus the spec funds liquidating their long positions. Losses in European rapeseed and Malaysian palm oil added to

Futures markets

ICE Canola Midday: More to downturn than rain

Weaker soyoil, long liquidation contributing factors

By GFM Network News June 9, 2021

By Glen Hallick, MarketsFarm WINNIPEG, June 9 (MarketsFarm) – Intercontinental Exchange (ICE) canola futures were falling sharply at midday Wednesday, with some contracts coming close to the C$30 per tonne daily limit. A Winnipeg-based trader said there are three factors to the slide in prices. “Definitely the rain, as it has alleviated the drought-like conditions.

Global Markets: New partnership seeks to buy Trans Mountain Pipeline

Chinook Pathways to block rival's acquisition

By GFM Network News June 9, 2021

Compiled by Glen Hallick, MarketsFarm WINNIPEG, June 9 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally. – Pembina Pipeline Corp. and the Western Indigenous Pipeline Group announced on Wednesday that they have formed Chinook Pathways in hopes of purchasing the Trans Mountain Pipeline from the Canadian government.

Futures markets

ICE canola falls with Prairie rains

By GFM Network News June 9, 2021

By Phil Franz-Warkentin, MarketsFarm WINNIPEG, June 9 (MarketsFarm) – The ICE Futures canola market was weaker Wednesday morning, seeing some profit-taking after recent highs as parts of the Prairies saw some much needed rain. Losses in Chicago Board of Trade soybeans and soyoil added to the softer tone in canola, with Malaysian palm oil and

Currency markets

Canadian Dollar and Business Outlook: Loonie rises before BoC decision

By GFM Network News June 9, 2021

WINNIPEG – The Canadian dollar increased on Wednesday just before the Bank of Canada (BoC) announces later today if it will raise key interest rates. As of 8:45 a.m. CDT, the loonie was at US$0.8288 or US$1=C$1.2066 on Wednesday, compared to US$0.8267 or US$1=C$1.2097 when markets closed on Tuesday. Many analysts believe BoC will keep

CBOT July 2021 soybeans (candlesticks) with 20-day moving average (dark green line) and ICE July 2021 canola (yellow line). (Barchart)

Crops, Markets, Weather

U.S. grains: Midwest forecast supports gains in soy, corn

CBOT wheat up, MGEX wheat down

By GFM Network News, Mark Weinraub June 9, 2021

Chicago | Reuters — U.S. corn and soybean futures rose on Tuesday after a government report showed that the condition of crops was worse than expected as a heat wave hit the U.S. Midwest. “Yesterday’s Crop Progress report provided plenty of fodder for the bulls,” Matt Zeller, director of market information at StoneX, said in

CME July 2021 lean hogs (candlesticks) with August 2021 live cattle (dark red open/high/low/close). (Barchart)

Livestock, Markets

U.S. livestock: July hogs retreat after matching contract high

August live cattle up slightly, feeders down

By GFM Network News, Tom Polansek June 9, 2021

Chicago | Reuters — Chicago Mercantile Exchange (CME) lean hog futures ended mixed on Tuesday after matching a contract high because of tight U.S. supplies and firm cash markets, analysts said. The hog market has surged this year due to strong domestic demand and solid export sales to China, the world’s biggest pork consumer. Profit-taking

Currency markets

Canadian Financial Close: C$ weakens slightly

By GFM Network News June 8, 2021

By MarketsFarm WINNIPEG, June 8 (MarketsFarm) – The Canadian dollar was slightly weaker on Tuesday, as investors adjusted positions ahead of the Bank of Canada’s next interest rate decision on Wednesday. The Canadian dollar closed at US$0.8267 or US$1=C$1.2097 on Tuesday, which compares with Monday’s North American close of US$0.8283 or US$1=C$1.2073. In domestic data,