Global Markets: Mixed U.S./Canadian jobs data

By MarketsFarm WINNIPEG, June 4 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally. – The United States unemployment rate fell to 5.8 per cent in May, from 6.1 per cent the previous month, as the country added 559,000 jobs, according to a report from the U.S. Labor



ICE Canada Morning Comment: Canola finding strength

Soy complex bouncing back

By Glen Hallick, MarketsFarm WINNIPEG, June 4 (MarketsFarm) – Intercontinental Exchange (ICE) canola futures were higher on Friday morning, claiming back some of yesterday’s losses. There was spillover from strong gains in the Chicago soy complex, while Malaysian palm oil was down a little and European rapeseed was mixed. The Prairies will get another strong

(Photo courtesy Canada Beef Inc.)

Feed weekly outlook: Rains, lower demand pressure grain bids

Old-crop demand 'not that strong anymore'

MarketsFarm — With feedlots across Western Canada already stocked up on feed barley and wheat for their animals, reduced demand for those crops and recent wet weather have left high-delivered bids mixed. According to Prairie Ag Hotwire data from Wednesday, high-delivered bids for feed barley remained steady in Saskatchewan at $6 per bushel, went down


CBOT July 2021 soybeans (candlesticks) with 20-, 50- and 100-day moving averages (yellow, gold, green lines). (Barchart)

U.S. grains: Soybeans, corn ease on inflation fears

Stronger U.S. dollar also pressures prices

Chicago | Reuters — Chicago soybean and corn futures eased on Thursday, pressured by a firming dollar and fears of food price inflation, though concerns of hot, dry weather in growing areas offered support, traders said. The most-active soybean contract on the Chicago Board of Trade fell 13-1/4 cents to $15.49-1/4 per bushel, while new-crop

CME August 2021 feeder cattle (candlesticks) with 20-day moving average (red line) and CBOT July 2021 corn (yellow line). (Barchart)

U.S. livestock: CME feeder cattle gain on lower corn

December live cattle, July hogs up

Chicago | Reuters — Chicago Mercantile Exchange (CME) feeder cattle futures gained on Thursday, lifted by lower corn futures and firmer back-month live cattle. “From the feeder buyer’s perspective, you had higher cattle and lower corn, so that’s a good deal,” said Alan Brugler, president of Brugler Marketing. CME August feeder cattle closed 1.35 cents


Canadian Financial Close: Loonie, gold lose ground

WINNIPEG – The Canadian dollar fell further below 83 United States cents on Thursday for its biggest one-day drop in six weeks due to promising economic data from the U.S. The loonie was at US$0.8262 or US$1=C$1.2103 on Thursday, down from Wednesday’s close at US$0.8297 or US$1=C$1.2052. Meanwhile, the United States Dollar Index jumped 0.57



Canola’s pullback snaps in a big way

Canola’s pullback snaps in a big way

Expect further significant swings in coming weeks

When the downturn in ICE Futures canola finally gave way, it did so with a measure of gusto. The old-crop July contract touched its daily trading limit of $30 per tonne on May 27, before it eased back to increase by $24.40 on the day. New-crop positions also experienced jumps of more than $20. This

ICE canola correcting lower at midday

By Phil Franz-Warkentin, MarketsFarm WINNIPEG, June 3 (MarketsFarm) – The ICE Futures canola market was weaker at midday Thursday, retreating from earlier gains as a downturn in Chicago Board of Trade soyoil weighed on prices. Speculative profit-taking accounted for much of the selling pressure, according to a trader, with the reversal in soyoil a bearish