GFM Network News


Feed weekly outlook: Offshore demand still lifting Prairie barley

MarketsFarm — Solid offshore demand for Canadian barley remains the key driver in the domestic feed market, keeping prices high. “It’s certainly not driven by southern Alberta, it’s driven by Vancouver and the export business,” said Allen Pirness, of Market Place Commodities in Lethbridge, on the continued strength in barley bids. Typically, arbitrage opportunities would

Canadian Financial Close: Loonie gains nearly two-tenths

By MarketsFarm WINNIPEG, Jan. 21 (MarketsFarm) – The Canadian dollar was higher on Thursday, due to economic optimism. The dollar finished at US$0.7920 or US$1=C$1.2627, compared to Wednesday’s close of US$0.7901 or US$1=C$1.2656. Benchmark crude oil prices were lower Thursday following a report from the American Petroleum Institute said United States inventories increased rather than

North American Grain and Oilseed Review: Canola gets shot in the arm from soyoil

CBOT: Soybeans, corn up, wheat lower

By Glen Hallick, MarketsFarm WINNIPEG, Jan. 21 (MarketsFarm) – Intercontinental Exchange (ICE) Futures canola contracts were stronger on Thursday with spillover from sharp gains in Chicago soyoil. There was additional support from gains in European rapeseed and Malaysian palm oil. The largest increases in canola came in the new crop months. The likelihood of tight



ICE Canola Midday: Canola regains some lost ground

Spillover support from soyoil

By Glen Hallick, MarketsFarm WINNIPEG, Jan. 21 (MarketsFarm) – Intercontinental Exchange (ICE) Futures canola contracts were higher at midday Thursday getting spillover from good gains in Chicago soyoil. A Winnipeg-based trader remarked that canola had been “beaten down, but it’s back up again.” There was additional support from higher European rapeseed and Malaysian palm oil

Bank of Canada holds interest rate

WINNIPEG, Jan. 21 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally. – After releasing its Monetary Policy Report on Jan. 20, the Bank of Canada announced it was not changing its key interest rate, which will remain at 0.25 per cent. Despite the central bank predicting Canada’s

Speculation that USDA could further drop ending stocks in February’s WASDE fuelled another round of increases in commodity futures.

U.S. WASDE points to lower ending stocks, lifts futures

The March contract set a new high based on USDA’s report

Within days before the U.S. Department of Agriculture (USDA) issued its latest supply-and-demand report, there was speculation of further reductions to ending stocks for soybeans, corn and wheat. Such bullish news would see U.S. prices rise and spill over into canola. On Jan. 12 USDA released its world agriculture supply-and-demand estimates (WASDE), which slashed soybean ending stocks


ICE canola correcting higher early Thursday

By Phil Franz-Warkentin, MarketsFarm WINNIPEG, Jan. 21 (MarketsFarm) – The ICE Futures canola market was stronger Thursday morning, seeing a modest bounce after posting heavy losses earlier in the week. While canola had been due for a profit-taking correction from a chart standpoint, the underlying fundamentals remain supportive. As a result, concerns over tight supplies

Canadian Dollar and Business Outlook: Loonie gains on U.S. dollar weakness

U.S. crude inventories increase

By MarketsFarm WINNIPEG, Jan. 21 (MarketsFarm) – The Canadian dollar higher on Thursday morning as the United States dollar lost ground. As of 8:42 CST, the Canadian dollar was at US$0.7921 or C$1.2625, compared to Wednesday’s close of US$0.7901 or C$1.2656. On the U.S. Dollar Index, the greenback was down 0.279 at 90.190 points. Benchmark