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Futures markets

ICE canola drops with soy complex at midday

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By Phil Franz-Warkentin, MarketsFarm WINNIPEG, May 19 (MarketsFarm) – The ICE Futures canola market was weaker at midday Wednesday, as sharp losses in the Chicago Board of Trade soy complex encouraged some speculative selling. Oversold price sentiment contributed to the decline, although the underlying fundamentals of tight supplies and solid demand remained supportive. Forecasts calling
Currency markets

Canadian dollar and business outlook

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By MarketsFarm WINNIPEG, May 19 (MarketsFarm) – The Canadian dollar was weaker Wednesday morning, as losses in crude oil weighed on the energy-linked currency. At 8:57 a.m. CDT Wednesday morning, the Canadian dollar was at US$0.8273 or US$1=C$1.2088 which compares with Tuesday’s North American close of US$0.8298 or US$1=C$1.2051. Canada’s Consumer Price Index was up
Global markets

Global Markets: Inflation rises to decade-high

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WINNIPEG – The following is a glance at the news moving markets in Canada and globally. – Statistics Canada reported on Wednesday that annual inflation increased to 3.4 per cent in April, compared to 2.2 per cent in March, its highest rate since May 2011. Economists had predicted a rise to 3.2 per cent. Meanwhile,
Futures markets

ICE Canada Morning Comment: Rain brings storm of big price hits

Weaker edible oils add to losses

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By Glen Hallick, MarketsFarm WINNIPEG, May 19 (MarketsFarm) – There were sharp declines in Intercontinental Exchange (ICE) canola futures on Wednesday morning, as two weather systems are forecast to bring much needed rain to the Canadian Prairies. One system moving across central and northern Alberta dropped 15 to 45 millimeters and in one case, five
File photo of a steak sandwich with chimichurri sauce at a street food market in Buenos Aires. (Aleksandr_Vorobev/iStock/Getty Images)
Beef cattle, Livestock, Markets

Tensions build over Argentina’s beef export ban

Rural associations pledge pause in livestock trading

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Buenos Aires | Reuters — Argentine farm groups will halt trading of livestock in protest against a 30-day government ban on beef exports aimed at bringing down domestic prices, the country’s main producer groups said in a joint statement Tuesday. The South American country’s centre-left Peronist government unveiled the ’emergency measure’ to tamp down high
CME June 2021 lean hogs (candlesticks) with 20-day moving average (pink line) and June 2021 live cattle (red high/low/close). (Barchart)
Livestock, Markets

U.S. livestock: Hog futures rally on technical bounce

June live cattle up, August feeders down

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Chicago | Reuters — Lean hog futures rallied on Tuesday, rising 1.8 per cent on a technical bounce after three straight days of declines pushed prices to their lowest since April 30, traders said. Concerns about a tightening of supplies during grilling season added support. “We are still watching weekly hog slaughter rates,” said Rich
Currency markets

Canadian Financial Close: Loonie a pinch under 83 U.S. cents

Greenback slides under 90 points on dollar index

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Compiled by Glen Hallick, MarketsFarm WINNIPEG, May 18 (MarketsFarm) – After pushing well above 83 United States cents, the Canadian dollar settled back just under the mark on Tuesday. The increase of just over two-tenths of cent to hit a six-year high was largely due to the decline of the U.S. dollar. The loonie finished

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