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Canadian dollar and business outlook

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By MarketsFarm WINNIPEG, May 17 (MarketsFarm) – The Canadian dollar was firmer Monday morning, as gains in crude oil provided some support. The strength in the currency came despite signs that Canada’s housing market was cooling down. At 8:52 a.m. CDT Monday morning, the Canadian dollar was at US$0.8268 or US$1=C$1.2095 which compares with Friday’s
Global markets

Global Markets: Israeli, Palestinian conflict intensifies

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WINNIPEG – The following is a glance at the news moving markets in Canada and globally. – The Israeli military conducted heavy air strikes over Gaza on Monday, destroying 15 kilometres of tunnels and the homes of nine Hamas commanders. During those air strikes, one Hamas commander, Hussam Abu Harmeed, was killed. After Harbeed’s death,
Futures markets

ICE Canada Morning Comment: Canola off to a mixed start

Support from Chicago soy complex

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By Glen Hallick, MarketsFarm WINNIPEG, May 17 (MarketsFarm) – Intercontinental Exchange (ICE) canola futures were mixed on Monday morning with sharp gains in the old crop July contract and declines in the immediate new crop positions. There was spillover strength coming from higher values in the Chicago soy complex. However, there were losses in European
CBOT July 2021 corn with 20-, 50- and 100-day moving averages (yellow, orange, green lines). (Barchart)
Crops, Markets

U.S. grains: Corn tumbles on long liquidation

CBOT soy, wheat modestly higher

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Chicago | Reuters — U.S. corn futures fell for a third straight session on Friday, with the benchmark July contract hitting a two-week low on fund-driven long liquidation amid easing concerns about dwindling supplies, analysts said. Soybean and wheat futures closed higher. Chicago Board of Trade July corn futures settled down 31 cents at $6.43-3/4
CME August 2021 feeder cattle (candlesticks) with 20-day moving average (dark red line) and August 2021 live cattle (pink line, left column). (Barchart)
Livestock, Markets

U.S. livestock: Live cattle down, feeders up with corn

CME lean hog futures down

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Chicago | Reuters — Chicago Mercantile Exchange live cattle futures extended losses on Friday on long liquidation that also dragged down corn futures, analysts said. It was the second consecutive day that cattle futures followed declines in the Chicago Board of Trade corn market, which has retreated from eight-year highs reached last week. “Cattle got
Currency markets

Canadian Financial Close: C$ ends week stronger

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By MarketsFarm WINNIPEG, May 14 (MarketsFarm) – The Canadian dollar was stronger on Friday, underpinned by gains in crude oil and solid domestic economic data. The Canadian dollar closed at US$0.8258 or US$1=C$1.2109 on Friday, which compares with Thursday’s North American close of US$0.8230 or US$1=C$1.2150. Canadian factory sales were up by 3.5 per cent
Factors pile up for a downturn in cattle markets
Livestock Markets, Markets

Factors pile up for a downturn in cattle markets

The loonie’s current strength is not helpful

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Along with the stronger Canadian dollar, a few other factors have combined to point the Manitoba cattle industry toward something of a downturn, according to Harold Unrau of the Grunthal Livestock Auction Mart. “Grain prices are rising. Cattle futures are staying the same or maybe dropping a bit. So between the dollar and the grain
Brazil 2021 corn exports seen falling to 32 million tonnes
Markets, News

Brazil 2021 corn exports seen falling to 32 million tonnes

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Reuters – Brazil’s cereal exporter association Anec on May 5 maintained the country would ship some 32 million tonnes of corn this year, 1.6 million tonnes less than in 2020, despite a drought that is affecting yields in certain producing areas. Sergio Mendes, Anec’s director general, said Brazil’s corn export prospects remain good thanks to
Futures markets

North American Grain and Oilseed Review: Canola partially regains steep losses

Another bad day for CBOT corn

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By Glen Hallick, MarketsFarm WINNIPEG, May 14 (MarketsFarm) – Intercontinental Exchange (ICE) canola futures finished higher on Friday, winning back a portion of the steep losses incurred on Thursday. Much of canola’s recovery was due to strong gains in Chicago soyoil and European rapeseed. A trader stated the longs were moving out of the July

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