GFM Network News

Fund traders still bearish on canola

MarketsFarm — Large fund traders covered short positions in soybeans and corn during the week ended Tuesday, but continued to add to bearish bets in canola, according to the latest commitment of traders (CoT) report from the U.S. Commodity Futures Trading Commission (CFTC). The net managed money short position in ICE Futures canola came in

U.S. grains: Soy, wheat, corn close lower after early gains

Traders focus on signs of tepid demand from China

Chicago | Reuters — U.S. soybean, corn and wheat futures fell on Friday, with all three commodities facing pressure after rising early in the session. Soybean futures hit their highest in more than three weeks after the U.S. Agriculture Department at its annual Outlook Forum projected domestic soybean ending stocks for the 2020-21 marketing year

U.S. livestock: CME hog futures firm

Cattle contracts ease

Chicago | Reuters — Chicago Mercantile Exchange hog futures ended higher on Friday on a mild technical bounce while cattle contracts weakened. Feeder cattle contracts were under pressure from profit-taking following six straight days of gains that pushed the front-month contract to its highest since Jan. 30. CME lean hog futures for April delivery ended

Good movement, steady prices at livestock auctions

Futures are recovering from coronavirus reaction

There was good movement through Manitoba’s cattle auction yards during the second week of February, with prices relatively steady for most classes of cattle. “The light cattle are still very strong,” said Allan Munroe, of the Killarney Auction Mart. However, “the big ones took a hit with the drop in the futures a few weeks

Canadian Financial Close: Loonie gains on U.S. greenback

Oil, stocks down on coronavirus fears

By MarketsFarm WINNIPEG, Feb. 21 (MarketsFarm) – The Canadian dollar was slightly higher at market close on Friday, as the United States dollar slipped today after a week of gains. The loonie finished the day at US$0.7562 or US$1=C$1.3224, which compares with Thursday’s close of US$0.7545 or C$1.3254. Benchmark crude oil prices were lower on

North American Grain/Oilseed Review

By Marlo Glass, MarketsFarm WINNIPEG, Feb. 21 (MarketsFarm) – Intercontinental Exchange (ICE) Futures canola contracts ended slightly lower in nearby contracts on Friday, despite holding steady for most of the trading session. The Canadian dollar gained strength at the end of the week, keeping some pressure on canola prices. A generally weak tone for the

Canola prices up at midday

By Marlo Glass, MarketsFarm WINNIPEG, Feb. 21 (MarketsFarm) – The ICE Futures canola market was slightly stronger at midday Friday. A stronger tone for the soy complex on the Chicago Board of Trade offered some direction to canola prices. Soybeans were stronger even though soybean export sales were lower than trade expectations. The Canadian dollar

Global Markets: RCMP to leave Wet’suwet’en territory

By MarketsFarm WINNIPEG, Feb. 21 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally. – The Royal Canadian Mounted Police (RCMP) have offered to leave Wet’suwet’en territory but will remain in the nearby British Columbia town of Houston. Hereditary chiefs have said they will not meet with government

ICE canola holding near unchanged Friday morning

By Phil Franz-Warkentin, MarketsFarm WINNIPEG, Feb. 21 (MarketsFarm) – The ICE Futures canola market was holding within 50 cents of unchanged Friday morning, lacking any clear direction as traders adjusted positions ahead of the weekend. Small gains in Malaysian palm oil and Chicago Board of Trade soyoil provided some support, but European rapeseed futures were