GFM Network News

North American Grain/Oilseed Review

By Marlo Glass, MarketFarm WINNIPEG, July 2 (MarketsFarm) – Intercontinental Exchange (ICE) Futures canola contracts were slightly stronger on Thursday, amid light trading activity. Canadian markets were closed yesterday for the Canada Day holiday. United States markets closed at noon today and will reopen on Monday. Slight losses in the Canadian dollar were supportive of

ICE Canola Midday: Prices stronger at midday

By Marlo Glass, MarketsFarm WINNIPEG, July 2 – ICE Futures canola contracts were higher at midday Thursday, amid light trading activity. Canadian markets were closed yesterday for the Canada Day holiday, and United States markets will close at noon today. Gains in Chicago’s soy complex were supportive of canola prices. Nearby soyoil contracts were up

Canadian dollar and business outlook

WINNIPEG, July 2 (MarketsFarm) – The Canadian dollar was stronger following the Canada Day holiday.      At 8:45 CDT Thursday morning the Canadian dollar was at US$0.7362 or US$1=C$1.3581, which compares with Tuesday’s North American close of US$0.7338 or US$1=C$1.3628. Global stock indices were stronger following positive economic data from the United States. The country

ICE canola up after Canada Day break

By Phil Franz-Warkentin, MarketsFarm WINNIPEG, July 2 (MarketsFarm) – The ICE Futures canola market was stronger Thursday morning, taking some direction from the Chicago Board of Trade soy complex. While soybeans and soyoil were holding closer to unchanged in early activity, the futures had posted solid gains on Wednesday when the canola market was closed

U.S. livestock: Live cattle futures rise on new-month buying

Hogs mostly down on concerns over supplies, demand

Chicago | Reuters — U.S. live cattle futures closed higher on Wednesday on what appeared to be technical and speculative buying at the start of a new month and quarter, analysts said. Yet the benchmark August live cattle contract on the Chicago Mercantile Exchange remained rangebound, with rallies capped by weak beef prices as slaughterhouses

CUSMA pact takes effect under cloud of disputes, COVID-19

Deal appears to assure continuity of trade for agriculture

Washington/Mexico City/Ottawa | Reuters — A modernized U.S.-Mexico-Canada trade pact took effect on Wednesday, ensuring continuity for manufacturers and agriculture, but the threat of disputes is exposing cracks in what was meant to be a stronger North American fortress of competitiveness. As the deal kicks in, the Trump administration is threatening Canada with new aluminum

U.S. grains: Corn continues upward on USDA acreage data, weather worries

Wheat, soy also firm on lower-than-expected USDA acreage; traders eye forecasts for warm, dry Midwest weather

Chicago | Reuters — U.S. corn futures extended a rally on Wednesday to their highest in more than three months after a steeper-than-expected reduction to the U.S. government’s 2020 corn acreage estimate, analysts said. Soybeans and wheat gained after the U.S. Department of Agriculture’s acreage report on Tuesday also showed smaller-than-expected plantings of the grains.

U.S. grains: Corn, soy climb on smaller-than-expected acreage view

Wheat follows corn, soy higher

Chicago | Reuters — Chicago corn futures surged nearly four per cent on Tuesday after the U.S. Department of Agriculture reported that American farmers planted 92 million acres of corn this spring, a figure that fell below a range of analyst expectations. Soybean futures rose after USDA put U.S. plantings at 83.8 million acres, up

U.S. livestock: Cattle futures drift lower as corn prices soar

Wholesale beef prices show signs of stabilizing

Chicago | Reuters — U.S. cattle futures closed modestly lower on Tuesday, pressured by a surge in Chicago Board of Trade (CBOT) corn futures that is likely to squeeze profit margins for livestock producers, traders said. “The rise in feed costs changes the dynamics in the industry. It cuts into profits — or in the