GFM Network News

Global Markets: Canadian economy adds nearly 240,000 jobs

By MarketsFarm WINNIPEG, June 5 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally. The Canadian economy added 239,600 jobs in May, which beat out expectations for the month. The unemployment rate rose to 13.7 per cent, according to Statistics Canada. Economists predicted 500,000 jobs would be lost,

Canadian Dollar and Business Outlook: Jobs report boosts loonie

OPEC+ conference going ahead

By MarketsFarm WINNIPEG, June 5 (MarketsFarm) – The Canadian dollar was higher on Friday morning due to surprisingly strong employment data from Statistics Canada. As of 8:39 CDT, the Canadian dollar was at US$0.7463 or C$1.3393, compared to Thursday’s close of US$0.7403 or C$1.3508. Statistics Canada reported the economy gained almost 290,000 jobs when economists


U.S. grains: Wheat soars as export outlook brightens

CBOT soybeans near two-month top

Chicago | Reuters — U.S. soybean futures hit their highest levels in nearly two months on Thursday and wheat futures rose more than two per cent as a weaker dollar bolstered export prospects for U.S. grains and oilseeds, analysts said. Corn futures followed the firm trend. Chicago Board of Trade July soybeans settled up 10-1/4

Canadian Financial Close: Loonie firm amid trade deficit

OPEC+ meeting back on - maybe

By MarketsFarm WINNIPEG, June 4 (MarketsFarm) – The Canadian dollar was virtually unchanged on Thursday, as pressure from poor trade data was countered by small gains in global crude oil. The loonie finished the day at US$0.7403 or US$1=C$1.3508, compared to Tuesday when it closed at US$0.7405 or US$1=C$1.3504. Statistics Canada reported the country had


Grain exports continue strong out of Thunder Bay

COVID-19 leads to increased demand, reduced oil traffic by rail

MarketsFarm — The Port of Thunder Bay reported another strong grain handling month in May, as more than 1.1 million tonnes of Canadian grain and oilseeds moved through the harbour on the northern shores of Lake Superior during the month. Increased demand from many countries stockpiling grain amidst the global COVID-19 pandemic was cited as

North American Grain/Oilseed Review

By Marlo Glass, MarketFarm WINNIPEG, June 4 (MarketsFarm) – Intercontinental Exchange (ICE) Futures canola contracts were higher on Thursday, carrying on strength from earlier in the week. A slight dip in the Canadian dollar was supportive of canola values. The loonie was under 74 United States cents at midday for the first time in two

Traders’ optimism for canola is short lived

Hopes of Chinese demand for U.S. soybeans have also faded as tensions mount

Things were looking rather good for canola during the first part of the week of May 25 — then prices dropped almost immediately on May 27 after a ruling was announced on the extradition of Meng Wanzhou. Canola, as it so often does, had been riding the coattails of soyoil on the Chicago Board of


ICE Canola Midday: Prices stronger at midday

By Marlo Glass, MarketsFarm WINNIPEG, June 4 – ICE Futures canola contracts were higher at midday Thursday, continuing gains from prior trading sessions. Slight weakness in the Canadian dollar was supportive of canola values, as the loonie dropped below 74 United States cents for the first time in two days. Canola also got a boost

Global Markets: 10,000 protestors arrested across U.S.

By MarketsFarm WINNIPEG, June 4 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally. Former Minneapolis police officer Derek Chauvin has been charged with second-degree murder for kneeling on George Floyd’s neck, upgraded from the initial charge of third-degree murder. The three police officers who watched it happen