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Canadian Financial Close: Loonie, TSX pull back

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WINNIPEG – After the Canadian dollar closed above 83 United States cents on Tuesday for the first time since May 2015, it slipped below the mark on Wednesday. The loonie was at US$0.8297 or US$1=C$1.2052 on Tuesday, down from Tuesday’s close at US$0.8306 or US$1=C$1.2040. Meanwhile, the United States Dollar Index increased 0.08 to 89.91
Futures markets

Hot weather underpins canola futures at midday Wednesday

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By Phil Franz-Warkentin, MarketsFarm WINNIPEG, June 1 (MarketsFarm) – The ICE Futures canola market was stronger at midday Tuesday, as hot and dry weather forecasts provided support. Environment Canada has issued a heat wave warning for much of the Canadian Prairies, with daytime temperatures above 30 Celsius expected over the next week. With little rain
Currency markets

Canadian Dollar and Business Outlook: Loonie down, oil rises

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WINNIPEG – The Canadian dollar has settled back down on Wednesday morning since surpassing the 83-cent United States mark yesterday. As of 8:43 a.m. CDT, the loonie was at US$0.8288 or US$1=C$1.2066 compared to US$0.8306 or US$1=C$1.2040 when markets closed on Tuesday. Crude oil continues to rally on Wednesday after OPEC+ forecast a tightening market
Futures markets

ICE Canada Morning Comment: Canola continues to push higher

Prairies facing hot, dry weather

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By Glen Hallick, MarketsFarm WINNIPEG, June 2 (MarketsFarm) – Intercontinental Exchange (ICE) canola futures were higher on Wednesday morning, building on yesterday’s spike in prices. Hot, dry weather is forecast to continue for the rest of the week across the Prairies. Canola was getting support from sharp gains in Chicago soyoil, as well as increases
File photo of a container vessel being unloaded at a U.K. port. (Sterling750/iStock/Getty Images)
Markets

Trans-Pacific trade partners agree for U.K. to start joining process

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Tokyo | Reuters — Member nations of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) on Wednesday officially agreed to allow the United Kingdom to start the process of joining the pact, Japan’s economy minister said. Japanese Economy Minister Yasutoshi Nishimura told reporters he welcomed the start of Britain’s joining process after hosting an
CME August 2021 live cattle (candlesticks) with July 2021 lean hogs (pink open/high/low/close). (Barchart)
Livestock, Markets

U.S. livestock: Cattle futures fall on cyberattack at JBS

July hogs touch contract high

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Chicago | Reuters — Chicago Mercantile Exchange (CME) cattle futures tumbled on Tuesday after JBS stopped slaughtering at U.S. plants because of a cyberattack. Brazil’s JBS told the U.S. government that a ransomware attack on the company originated from a criminal organization likely based in Russia, according to the White House. It is not known
CBOT July 2021 corn (candlesticks) with MGEX July 2021 spring wheat (orange open/high/low/close). (Barchart)
Crops, Markets, Weather

U.S. grains: Hot, dry weather view sparks rallies

Corn, soybeans, wheats up

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Chicago | Reuters — U.S. corn, soybean and wheat futures rallied on Tuesday, supported by concerns that crops will face stress from adverse weather during the next few weeks. “The grains exploded out of the gates last night and remain double-digits higher… as forecasts turn hot and dry through mid-month,” Arlan Suderman, chief commodities economist

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