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Futures markets

ICE canola mostly lower at midday

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By Phil Franz-Warkentin, MarketsFarm WINNIPEG, May 20 (MarketsFarm) – The ICE Futures canola market was mostly weaker at midday Thursday, with the largest losses in the nearby July contract as investors bail out of the front month and attention turns to the new crop futures. Losses in Chicago Board of Trade soyoil accounted for some
Currency markets

Canadian dollar and business outlook

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By MarketsFarm WINNIPEG, May 20 (MarketsFarm) – The Canadian dollar was slightly firmer Thursday morning, consolidating in a narrow range relative to its United States counterpart. At 8:55 a.m. CDT Thursday morning, the Canadian dollar was at US$0.8272 or US$1=C$1.2089 which compares with Tuesday’s North American close of US$0.8264 or US$1=C$1.2100. The number of Canadians
Futures markets

ICE Canada Morning Comment: More declines in immediate months

Weakness in comparable edible oils

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By Glen Hallick, MarketsFarm WINNIPEG, May 20 (MarketsFarm) – Intercontinental Exchange (ICE) canola futures were mostly lower on Thursday morning, with the largest declines in the July and November contracts. Weakness in Chicago soyoil, European rapeseed and Malaysian palm oil weighed on canola values. The Prairies are receiving precipitation with snow of up five centimeters
CBOT July 2021 soybeans with Bollinger (20,2) bands. (Barchart)
Crops, Markets

CBOT weekly outlook: Commodities see ‘much needed’ correction

'You’re not going to go up every day'

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MarketsFarm — A bullish market and sharp increases in commodities at the Chicago Board of Trade (CBOT), turned downward Wednesday in what Sean Lusk of Walsh Commercial Hedging Services called a “much needed correction.” Prices pulled back that day by varying degrees for soybean, corn and wheat futures, coinciding with declines in other commodity futures
CBOT July 2021 wheat (candlesticks) with 20-, 50- and 100-day moving averages (yellow, orange, green lines) and MGEX July 2021 wheat (black line). (Barchart)
Crops, Markets

U.S. grains: Wheat, soybeans plunge on fund selling

Chicago July corn flat

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Chicago | Reuters — U.S. soybean and wheat futures fell more than two per cent on Wednesday, with traders noting selling by investment funds as commodity contracts tumbled through key technical support points. The most-active corn futures ended unchanged, steadying after trading in negative territory for much of the session. Deferred contracts were slightly lower.
CME August 2021 live cattle (candlesticks) with 20-day moving average (red line) and CBOT July 2021 corn (yellow line, left column). (Barchart)
Livestock, Markets

U.S. livestock: Cattle, hog futures up with cash markets

Boxed beef, select cuts priced at one-year highs

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Chicago | Reuters — Chicago Mercantile Exchange hog and cattle futures rose on Wednesday, with the market underpinned by strength in the cash markets. Prices for the cattle contracts hit their highest in nearly a week, but closed off their session peaks as the corn market recovered from sharp declines. The early weakness in corn
Currency markets

Canadian Financial Close: Declines in stock markets, crude oil weaken loonie

Stronger U.S. greenback adds to pull back

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Compiled by Glen Hallick, MarketsFarm WINNIPEG, May 19 (MarketsFarm) – The Canadian dollar slipped back on Wednesday, as a sell-off in the stock markets and a hefty drop in crude oil prices weighed on values. The loonie finished at US$0.8264 or US$1=C$1.2100, compared to Tuesday’s close of US$0.8298 or US$1=C$1.2051. Adding to the pressure on

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