GFM Network News

Canadian dollar and business outlook

By MarketsFarm WINNIPEG, Aug. 11 (MarketsFarm) – The Canadian dollar was stronger Tuesday morning, moving back above 75 U.S. cents. At 8:54 CDT Tuesday morning the Canadian dollar was at US$0.7520 or C$1.3298 which compares with Monday’s North American close of US$0.7488 or C$1.3354. Optimism over economic stimulus measures in the United States accounted for

Global Markets: Russia claims it has coronavirus vaccine

Lack of data leads to skepticism

By MarketsFarm WINNIPEG, Aug. 11 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally. – Russia announced on Tuesday the approval of a coronavirus vaccine. However, the news has been treated with skepticism by the medical community, citing safety concerns and the true effectiveness of the vaccine, according

ICE canola futures: Prices lower on Tuesday morning

By Marlo Glass, MarketsFarm WINNIPEG, Aug. 11 (MarketsFarm) – Intercontinental Exchange (ICE) futures canola contracts were weaker on Tuesday morning. Declines in Chicago soyoil were a negative factor for canola prices. Nearby Chicago soyoil contracts were weaker by about two tenths of a cent in early morning trade. Continued strength to the Canadian dollar also

Containerized crops may get stuck in Montreal port’s strike

Longshoremen on 'indefinite' strike as of Monday morning

Bulk grain traffic through the Port of Montreal isn’t expected to be affected by a longshoremen’s strike that began Monday morning, but eastbound containerized crops may be among the traffic put on hold. CUPE’s Syndicat des debardeurs Local 375, which represents about 1,150 longshoremen and longshorewomen at the port, served notice Friday that it would

Nutrien cuts profit forecast on weak ammonia prices

Reuters — Canadian fertilizer maker Nutrien on Monday cut its annual adjusted profit forecast as weaker-than-normal industrial demand held back prices for ammonia and urea ammonium nitrate. The company cut the top end of its 2020 adjusted earnings per share forecast to $1.90 from $2.10 earlier, while retaining the lower end at $1.50. Even as

U.S. livestock: Live cattle up on cash market strength

Lean hog weights 'coming down a little bit'

Chicago | Reuters — Chicago Mercantile Exchange live cattle futures gained on Monday, as the cash market strengthened and packers looked to pickup slaughter rates, brokers said. Feeder cattle also gained, while lean hog futures added as producers looked to offload market-weight animals early to reduce feed costs. CME October live cattle added 0.7 cent

Canadian Financial Close: Loonie higher ahead of the weekend

By MarketsFarm WINNIPEG, Aug. 10 (MarketsFarm) – The Canadian dollar was slightly stronger on Monday, boosted by strong performances in the financial sector and crude oil values. The dollar finished the day at US$0.7488 or US$1=C$1.3354, compared to Friday when it closed at US$0.7476 or US$1=C$1.3377. United States stock indices were higher on Monday following

U.S. grains: Soybeans up with exports, corn up slightly on dry weather

Big expected Russian, Canadian crops weaken wheat

Chicago | Reuters — Chicago soybean futures rose on Monday as a spate of new-crop soybean export sales eased concerns about forecasts of huge harvests across the U.S. Midwest. Corn futures were buoyed by dryness in top corn-producing states, as weekend rainfall missed drought-stricken parts of western Iowa. Meanwhile, wheat futures slipped on estimates for