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Futures markets

ICE canola stronger at midday Tuesday

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By Phil Franz-Warkentin, MarketsFarm WINNIPEG, May 18 (MarketsFarm) – The ICE Futures canola market was stronger at midday Tuesday, with the old crop July contract up its daily C$45 per tonne limit for the second session in a row. After dropping sharply for most of the previous week due to long liquidation, the July contract
Global markets

Global Markets: Biden supports ceasefire

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WINNIPEG – The following is a glance at the news moving markets in Canada and globally. – United States President Joe Biden called Israeli Prime Minister Benjamin Netanyahu on Monday and expressed support for a ceasefire as the conflict between Israel and Hamas extended to its ninth day. However, unlike his colleagues in the Democratic
Currency markets

Canadian dollar and business outlook

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By MarketsFarm WINNIPEG, May 18 (MarketsFarm) – The Canadian dollar was stronger Tuesday morning, amid broad weakness for the United States dollar internationally. At 8:50 a.m. CDT Tuesday morning, the Canadian dollar was at US$0.8304 or US$1=C$1.2042 which compares with Friday’s North American close of US$0.8277 or US$1=C$1.2081. Recent strength in crude oil was also
Futures markets

ICE Canada Morning Comment: Old crop July already limit-up

New crop positions are mixed

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By Glen Hallick, MarketsFarm WINNIPEG, May 18 (MarketsFarm) – Intercontinental Exchange (ICE) canola futures were mostly higher on Tuesday morning, with the July contract reaching its daily limit of C$45 per tonne during the overnight session. The new crop months were mixed, with gains in the nearby positions. There was good spillover support from increases
MGEX July 2021 wheat with 20- and 100-day moving averages (orange, green lines) and CBOT July 2021 wheat (yellow line). (Barchart)
Crops, Markets

U.S. grains: Corn and soy mixed, wheat down

Wheats lower on weather view for U.S. Plains

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Chicago | Reuters — U.S. soybean and corn futures closed mixed on Monday, with nearby contracts firming on support from tight supplies and strength in the cash market, while forecasts for warm weather that will boost crop development in the U.S. Midwest pressured new-crop issues, traders said. “The outlook warmed up for the Midwest over
CME August 2021 live cattle (candlesticks) with 20- and 50-day moving averages (brown, black lines) and June 2021 lean hogs (pink high/low/close). (Barchart)
Livestock, Markets

U.S. livestock: Live cattle futures close to unchanged

CME June lean hog futures fall

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Chicago | Reuters — Chicago Mercantile Exchange live cattle futures settled close to unchanged on Monday, with attempts at a bargain-buying rally fizzling out after hitting some key resistance points. Hog futures were lower, notching their third straight day of declines on a technical setback. Cattle futures had weakened along with corn futures to end
Currency markets

Canadian Financial Close: Loonie pushing higher

Dollar gains more than a quarter cent

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Compiled by Glen Hallick, MarketsFarm WINNIPEG, May 17 (MarketsFarm) – The Canadian dollar increased in value on Monday, as the United States dollar continued to struggle. The loonie finished at US$0.8277 or US$1=C$1.2081, compared to Friday’s close of US$0.8258 or US$1=C$1.2109. On the U.S. Dollar Index, the greenback slipped back 0.148 at 90.175 points. The
Futures markets

ICE canola mixed at midday Monday

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By Phil Franz-Warkentin, MarketsFarm WINNIPEG, May 17 (MarketsFarm) – The ICE Futures canola market was mixed at midday Monday, with the old crop July contract up its daily C$45 per tonne limit and a steady tone in the more deferred new crop months. Tight old crop supplies remained a key driver in the front month,

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