GFM Network News

ICE canola futures: Prices lower Friday morning

By Marlo Glass, MarketsFarm WINNIPEG, Oct. 30 (MarketsFarm) – Intercontinental Exchange (ICE) Futures canola contracts were mixed on Friday morning, with slight gains observed in nearby contracts. Chicago soyoil contracts were stronger in early morning trade, providing somewhat of a boost. The December soyoil contract was up by about a third of a cent. Gains

Canadian Dollar and Business Outlook: Weaker greenback pushes loonie back above 75 U.S. cents

Canada's GDP rises 1.2 per cent

By MarketsFarm WINNIPEG, Oct. 30 (MarketsFarm) – The Canadian dollar gained more than a quarter of a cent on Friday morning, as its United States counterpart slipped back. As of 8:40 CDT, the Canadian dollar was at US$0.7518 or C$1.3304, compared to Thursday’s close of US$0.7491 or C$1.3349. The U.S. Dollar Index dipped 0.182 putting

ADM beats profit estimates but revenue disappoints

Reuters — Global grains trader Archer Daniels Midland beat Wall Street estimates for quarterly profits on Thursday, helped by strength in its grain milling and nutrition businesses. Still, revenue missed analysts’ expectations and net earnings attributable to the company were 44 per cent lower than a year earlier. Shares were down nearly three per cent

U.S. livestock: Live cattle futures jump on tightening supplies

Lower wholesale pork values drag on hogs

Chicago | Reuters — U.S. live cattle futures closed higher on Thursday on expectations that tight cattle supplies and rising demand for beef will buoy cash cattle markets, analysts said. Cash cattle traded lightly in the southern Plains this week at $106/cwt, the U.S. Department of Agriculture reported, even with last week (all figures US$).

U.S. grains: Corn, wheat hit two-week lows on COVID-19 fears

Commodity selling continues dragging on grains, analysts say

Chicago | Reuters — U.S. grain futures extended losses on Thursday, with corn and wheat hitting two-week lows as concerns over the COVID-19 pandemic’s economic impact weighed on prices. Improving global crop weather added pressure on prices, with rains benefiting dry wheat-growing areas in the U.S. and Russia and soybean-producing regions of Brazil, traders said.

Canadian Financial Close: Loonie closes below 75 U.S. cents

Weaker crude oil, stronger U.S. dollar

By MarketsFarm WINNIPEG, Oct. 29 (MarketsFarm) – The Canadian dollar was weaker on Thursday, as crude oil continued to grind lower and the United States dollar gained strength. The loonie finished at US$0.7491 or US$=C$1.3349 compared to Wednesday’s close of US$0.7518 or US$1=C$1.3302. The U.S. Dollar Index saw the greenback improve to 93.940 points, which

Feed weekly outlook: Prices plateauing

MarketsFarm — While prices for feed grains have risen over the last month along with several other commodities, they’ve now declined a little bit, according to Erin Harakal, senior trader with Agfinity in Stony Plain, Alta. “For short-term movement like November-December we’ve seen them come off the most compared to the late-January/early-March time frame,” she

North American Grain/Oilseed Review

By Phil Franz-Warkentin, MarketsFarm WINNIPEG, Oct. 29 (MarketsFarm) – The ICE Futures canola market was mostly higher on Thursday, seeing a modest correction after Wednesday’s sharp declines. Solid demand from both exporters and domestic crushers contributed to the firmer tone. Recent weakness in the Canadian dollar was also supportive. However, losses in Chicago Board of

IGC cuts record-large world grain production outlook slightly

MarketsFarm — World grain production for 2020-21 was revised slightly lower by the International Grains Council in its latest report Thursday, but the group is still anticipating record large supplies overall. Wheat and coarse grains are forecast to total 2.226 million tonnes, which would be down by one million tonnes from the September forecast but

Cannabis-infused drinks fizzle on production, distribution challenges

'Actually executing the idea is much more difficult'

Reuters — Investors pinning hopes on cannabis-infused drinks to propel growth of the legal marijuana industry may have to wait a bit longer, as companies struggle to produce and distribute the highly-sought beverages in a profitable way. Nearly 11 months after regulators allowed their sales, very few brands have been able to reach shelves. Canada