GFM Network News

ICE canola continues lower, testing support

WINNIPEG – The ICE Futures canola market was weaker Thursday morning, testing nearby support as speculators continued to liquidate long positions and book profits. The November contract dipped below the 20-day moving average, which was bearish from a chart-standpoint. A firm tone in the Canadian dollar, which moved above 80 United States cents, also weighed

Global Markets: U.S. economy grows in second quarter

WINNIPEG – The following is a glance at the news moving markets in Canada and globally. – The United States economy showed growth in the fiscal second quarter as the country’s gross domestic product (GDP) increased at an annualized rate of 6.5 per cent, according to an advanced estimate released Thursday from the U.S. Commerce





Canadian Financial Close: C$ strengthens

By MarketsFarm WINNIPEG, July 28 (MarketsFarm) – The Canadian dollar was slightly stronger on Wednesday, finding some support from the latest interest rate announcement from the United States Federal Reserve. The Canadian dollar closed at US$0.7958 or US$1=C$1.2566 on Wednesday, which compares with Tuesday’s North American close of US$0.7950 or US$1=C$1.2578. The Fed left its

North American Grain/Oilseed Review: Canola continues lower

By Phil Franz-Warkentin, MarketsFarm WINNIPEG, July 28 (MarketsFarm) – The ICE Futures canola market was weaker for the second session in a row on Wednesday, with thin volumes exaggerating the move as investors liquidated long positions. While hot and dry Prairie weather conditions remain a supportive influence, those drought concerns have been largely priced into

ICE canola weakens in thin trade at midday

By Phil Franz-Warkentin, MarketsFarm WINNIPEG, July 28 (MarketsFarm) – The ICE Futures canola market was weaker at midday Wednesday in thin and choppy activity. The market was holding range-bound overall, with traders waiting to get a better handle on the size of this year’s crop. While hot and dry Prairie weather conditions remain a supportive


The Archer Daniels Midland Co. (ADM) logo is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., May 3, 2018.
 Photo: REUTERS/Brendan McDermid

ADM quarterly profit surges amid strong U.S. corn exports to China

Reuters – U.S. grain merchant Archer-Daniels-Midland Co on Tuesday reported quarterly profit leapt 52 percent due to strong exports and oilseed crushing margins. The bigger-than-expected earnings sent shares to a two-week high and extended a recovery from the COVID-19 pandemic, which last year hurt demand for the company’s ethanol and food products. Shares were up