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CME June 2021 live cattle (candlesticks) with 20-, 50- and 100-day moving averages (pink, brown, black lines). (Barchart)

Livestock, Markets

U.S. livestock: CME cattle gain as demand remains strong

Lean hogs down for second session

By Christopher Walljasper, GFM Network News May 10, 2021

Chicago | Reuters — Chicago Mercantile Exchange cattle futures gained on Monday as cattle processing picked up, led by strong beef prices, while feed cattle gained on tight supplies and a lower corn trade, analysts said. CME June live cattle futures added 2.2 cents to 118.225 cents/lb., while August feeder cattle futures finished 4.425 cents

A wall in the medina (ancient city quarter) of Rabat, Morocco’s capital. (Cia.gov)

Cereals, Crops, Markets

Morocco reimposing 170 per cent duty on hard wheat

By GFM Network News, Reuters May 10, 2021

Rabat | Reuters — Morocco will reimpose customs duty on soft and hard wheat of 135 and 170 per cent respectively from May 15 in order to cut imports at a time of higher prices in international markets, the agriculture ministry said Monday. The government had said last week the duties would be reintroduced from

CBOT July 2021 wheat (candlesticks) with 20-, 50- and 100-day moving averages (yellow, orange, dark green lines). (Barchart)

U.S. grains: Corn, soy, wheat dip ahead of WASDE

Market eyes U.S. supply-demand reports for price direction

By Christopher Walljasper, GFM Network News May 10, 2021

Chicago | Reuters — Chicago corn futures fell on Monday, pausing after rallying to eight-year highs last week, with traders focusing on the U.S. Department of Agriculture’s upcoming world supply-demand (WASDE) report for new price direction. Wheat dipped, supported by beneficial rains across the U.S. Great Plains, while soybeans traded mixed on continued tight supplies.

Currency markets

Canadian Financial Close: C$ hits fresh multi-year highs

By GFM Network News May 10, 2021

By MarketsFarm WINNIPEG, May 10 (MarketsFarm) – The Canadian dollar was stronger on Monday, hitting fresh three-and-a-half year highs relative to its United States counterpart. The Canadian dollar closed at US$0.8268 or US$1=C$1.2095 on Monday, which was up from Friday’s North American close US$0.8226 or US$1=C$1.2156. General weakness in the U.S. dollar internationally accounted for

Futures markets

North American Grain and Oilseed Review: Canola retreats

Much needed rain weighs on U.S. values

By GFM Network News May 10, 2021

By Glen Hallick, MarketsFarm WINNIPEG, May 10 (MarketsFarm) – A number of factors conspired to send Intercontinental Exchange (ICE) canola futures lower on Monday, with the July contract hitting its down limit. Declines in Chicago soyoil, Malaysian palm oil and European rapeseed worked together with profit-taking to generate sharp losses to start the week. At

Futures markets

ICE Canola Midday: Profit-taking, weaker edible oils pull down prices

Stronger loonie adds to canola's weakness

By GFM Network News May 10, 2021

By Glen Hallick, MarketsFarm WINNIPEG, May 10 (MarketsFarm) – Intercontinental Exchange (ICE) canola futures were weaker at midday Monday due to a round of profit-taking, according to a Winnipeg-based trader. The softening of Chicago soyoil weighed on canola values as well, he said, noting soyoil “had a long, aggressive run.” Declines in European rapeseed and

Global Markets: Two major pipelines facing different problems

Colonial Pipeline, Enbridge tackling huge setbacks

By GFM Network News May 10, 2021

Compiled by Glen Hallick, MarketsFarm WINNIPEG, May 10 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally. – A major United States pipeline remained shut down on Monday after a cyber-attack on Friday forced the Colonial Pipeline Company to halt operations. With more than 5,500 miles of pipeline,

Futures markets

ICE canola correcting lower to start week

By GFM Network News May 10, 2021

By Phil Franz-Warkentin, MarketsFarm WINNIPEG, May 10 (MarketsFarm) – The ICE Futures canola market was weaker Monday morning, seeing a profit-taking correction in the old crop July contract to start the week. After climbing above C$1,000 per tonne on Friday the market was looking overdone to the upside. However, even with the front month down

Currency markets

Canadian Dollar and Business Outlook: Loonie at highest levels in six years

Greenback continues to weaken

By GFM Network News May 10, 2021

Compiled by Glen Hallick, MarketsFarm WINNIPEG, May 10 (MarketsFarm) – The Canadian dollar was stronger on Monday morning, reaching its highest levels since 2015 due to a weaker United States dollar. As of 8:39 CDT, the Canadian dollar was at US$0.8263 or C$1.2102 compared to Friday’s close of US$0.8226 or C$1.2156. On the United States

(File photo courtesy Canola Council of Canada)

Canada left with very tight canola, barley stocks

'You can't find canola anywhere in the country'

By GFM Network News May 8, 2021

MarketsFarm — Statistics Canada’s grain stocks report leaves no question that canola stocks have been tight for some time in Canada and will continue to be unless demand is slashed, according to independent trader Jerry Klassen in Winnipeg. “You can’t find canola anywhere in the country and the stocks that are out there, a lot