GFM Network News


CBOT July 2021 soybeans with Bollinger (20,2) bands. (Barchart)

CBOT weekly outlook: Commodities see ‘much needed’ correction

'You’re not going to go up every day'

MarketsFarm — A bullish market and sharp increases in commodities at the Chicago Board of Trade (CBOT), turned downward Wednesday in what Sean Lusk of Walsh Commercial Hedging Services called a “much needed correction.” Prices pulled back that day by varying degrees for soybean, corn and wheat futures, coinciding with declines in other commodity futures

CBOT May 2021 wheat with 20-, 50- and 100-day moving averages. (Barchart)

U.S. grains: Wheat hits three-month low on supply prospects

CBOT soybeans, corn also decline

Chicago | Reuters — U.S. wheat futures fell to their lowest level of 2021 on Thursday, pressured by improving global production prospects and a firmer dollar, which tends to make U.S. grains less competitive globally, analysts said. Corn and soybean futures also eased, following broad declines in commodities along with position-squaring ahead of key U.S.



(Dave Bedard photo)

Diesel prices, carbon tax cause headaches for farmers

MarketsFarm — Crude oil prices have been steadily on the rise since last November as oil-producing nations implement production cuts and Canadian farmers already affected by climbing diesel prices will have to dig deeper into their wallets this April. On April 1, the federal government’s carbon levy on diesel will go up from 8.05 cents

ICE January 2021 canola (candlesticks) with 20-day moving average (yellow line) and CBOT January 2021 soyoil (blue line). (Barchart)

ICE weekly outlook: Canola stronger at midweek

MarketsFarm — ICE Futures canola contracts were stronger on Wednesday, making up losses incurred earlier in the week. The nearby January contract closed Wednesday at $578.90 per tonne, gaining a few dollars after losing $7 in the prior day’s trade. Keith Ferley of RBC Dominion Securities in Winnipeg said canola’s losses were due to chart


The White Pass border crossing between Alaska and northwestern British Columbia, about 25 km north of Skagway, Alaska. The proposed A2A line would largely skirt B.C. en route from Alberta to Alaska. (Thierry64/iStock/Getty Images)

Trump-backed Canadian railway to Alaska faces high hurdles

Proponents say line could move grain, fertilizer as well as oil

Winnipeg/Washington | Reuters — A private-sector proposal endorsed by U.S. President Donald Trump to build a railway from Canada’s oil sands to ports in Alaska would free landlocked crude but faces numerous steep challenges. Trump wrote on Twitter over the weekend that he would issue a permit for the Alaska-Alberta Railway Development Corporation (A2A Rail)

CBOT November 2020 soybeans with 20-, 50- and 100-day moving averages. (Barchart)

U.S. grains: Soy jumps on China demand, fund-driven buying

CBOT wheat, corn follow soybeans higher

Chicago | Reuters — U.S. soybean futures surged to two-year highs on Wednesday on continued export demand from top global soy buyer China and fund-driven buying, analysts said. Corn and wheat futures followed soybeans higher, with additional support from a more than four per cent jump in U.S. crude oil prices. Corn and soyoil sometimes



U.S. grains: Corn drops to six-week low

Chicago | Reuters — U.S. corn futures tumbled to the lowest in six weeks on Thursday and soybeans fell for a fourth straight day as forecasts for crop boosting rains across the U.S. Midwest reinforced prospects for bumper crops this year. Technical selling as futures fell below recent lows added pressure, sending some new-crop corn

(File photo by Dave Bedard)

Grain exports flow fast as pandemic lockdowns clear rail capacity

Traffic accelerates on lower coal, crude volumes

Winnipeg | Reuters — Canadian grain exporters are boosting sales in a slumping global economy, as demand for commodities like oil weakens and frees up railway space. Brisk crop movement in a country that relies heavily on rail is a bright spot during pandemic lockdowns, which have hammered most industries. “We’ve had an almost unlimited