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File photo of a chickpea crop in India. (Nikhil Patil/iStock/Getty Images)

Crops, Markets, Pulses

Pulse weekly outlook: Harvest shortcomings could open doors to India

By GFM Network News, Glen Hallick - MarketsFarm May 5, 2021

MarketsFarm — As India’s pulse harvest continues, indications have been that initial projections might not be met — which could lead the world’s largest producer and consumer of pulses to allow more imports, MarketsFarm Pro analyst Mike Jubinville says. The Indian government expected about 11.5 million tonnes of chickpeas, but the harvest might bring in

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

U.S. grains: Corn tops $7 for first time since 2013 in most-active contract

High corn prices are not destroying demand, Bunge CEO says

By GFM Network News, Tom Polansek May 5, 2021

Chicago | Reuters — U.S. corn futures on Tuesday topped US$7 a bushel in the most-active contract for the first time since 2013 as unfavourably dry crop weather in Brazil kept attention on tightening global supplies. Surging prices have done little to curb robust demand for corn used to feed livestock and produce ethanol, opening

CME July 2021 lean hogs with 20-, 50- and 100-day moving averages. (Barchart)

Livestock, Markets

U.S. livestock: Hog futures extend rally on cash prices, tight supply

Cash cattle, beef values see 'significant disconnect'

By GFM Network News, Tom Polansek May 5, 2021

Chicago | Reuters — Chicago Mercantile Exchange lean hog futures hit contract highs for the third consecutive day on Tuesday as a strong cash market and tight supplies pushed up prices. Solid demand for pork has helped boost the market, with meat processors paying up to buy hogs from producers, analysts said. The U.S. Department

Currency markets

Canadian Financial Close: Loonie slightly declines amidst trade deficit

By GFM Network News May 4, 2021

WINNIPEG – The Canadian dollar dipped on Tuesday, but still remained above 81 cents U.S. The loonie was at US$0.8120 or US$1=C$1.2315 on Tuesday, down from Monday’s close at US$0.8144 or US$1=C$1.2279. Meanwhile, the United States Dollar Index reversed yesterday’s losses, increasing by 0.31 at 91.25 points. Statistics Canada reported earlier today that Canada had

Futures markets

North American Grain/Oilseed Review: Canola up sharply

By GFM Network News May 4, 2021

By Phil Franz-Warkentin, MarketsFarm WINNIPEG, May 4 (MarketsFarm) – The ICE Futures canola market was stronger on Tuesday, posting limit-up gains in the most active July contract. Activity was described as choppy and erratic, with no real catalyst for the latest speculative rally besides spillover from the gains in Chicago soybeans and corn. Fund traders

Futures markets

ICE canola hitting new highs at midday

By GFM Network News May 4, 2021

By Phil Franz-Warkentin, MarketsFarm WINNIPEG, May 4 (MarketsFarm) – The ICE Futures canola market was stronger at midday Tuesday, hitting fresh contract highs in many months as gains in Chicago Board of Trade soybeans and soyoil provided spillover support. Speculative funds accounted for much of the activity, as they added to their large long positions.

Global Markets: Rail overpass collapse kills 23 in Mexico City

By GFM Network News May 4, 2021

By MarketsFarm WINNIPEG, May 4 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally. – A rail overpass and train collapsed onto a busy road in Mexico City Monday evening, killing at least 23 people and hospitalizing 65 more, according to reports. The precarious situation hampered rescue efforts

Currency markets

Canadian Dollar and Business Outlook: Loonie dips, oil surges

By GFM Network News May 4, 2021

WINNIPEG – The Canadian dollar fell slightly on Tuesday morning, but remained above 81 cents U.S. As of 8:35 a.m. CDT, the loonie was at US$0.8121 or US$1=C$1.2314 compared to US$0.8144 or US$1=C$1.2279 when markets closed on Monday. Benchmark oil prices continued to rise as the potential for an economic rebound is outweighing demand concerns

Futures markets

ICE Canada Morning Comment: Canola bounces back Tuesday morning

Support coming from comparable oils

By GFM Network News May 4, 2021

By Glen Hallick, MarketsFarm WINNIPEG, May 4 (MarketsFarm) – After taking a hit on Monday, Intercontinental Exchange (ICE) canola futures were higher in the most actively traded months on Tuesday morning, benefitting from gains in other edible oils. Support also came from tight supply concerns and dry conditions on the Prairies. The situation was further

A hemp plant in Alberta. (Jennifer Blair photo)

Hemp poised for year of gains

Nationwide increase in acres expected

By GFM Network News, Glen Hallick - MarketsFarm May 4, 2021

MarketsFarm — The hemp industry in Canada is set for a good year in 2021, according to Canadian Hemp Trade Association (CHTA) CEO Ted Haney. “It looks like we are looking at another 15 to 20 per cent increase in seeded acres nationally, which should take us over the 100,000-acre level for sure,” he said.