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USDA attache to Canada predicts larger wheat crop

MarketsFarm — A new report from the Ottawa-based attache to the U.S. Department of Agriculture’s Foreign Agricultural Service (FAS) has raised its estimate of total wheat production in Canada for 2019. The report Thursday from attache Phil Hayes increases FAS’s estimate of wheat production in Canada for 2019 to 32.65 million tonnes, compared to last […] Read more

ice futures

Funds cover canola short positions

MarketsFarm — Fund traders covered some of their large net short position in canola during the week ended Tuesday, 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 canola came in Tuesday at 66,293, a decrease of roughly 3,000 contracts […] Read more

Canadian Financial Close: Markets rebound on stimulus talk

By MarketsFarm WINNIPEG, August 16 (MarketsFarm) – The Canadian dollar gained almost a quarter of a cent at market close on Friday, as the North American stock markets rebounded. The loonie finished the day at US$0.7527 or US$1=C$1.3286, which compares with Thursday’s close of US$0.7505 or C$1.3325. News that the German government has considered a […] Read more

North American Grain/Oilseed Review: Canola up with pre-weekend short-covering

By Phil Franz-Warkentin, MarketsFarm Winnipeg, Aug. 16 (MarketsFarm) – The ICE Futures canola market was stronger on Friday, taking some direction from Chicago Board of Trade soybeans as traders squared positions ahead of the weekend. Speculative short-covering was a feature as fund traders took some profits on their bearish bets, according to a trader. Solid […] Read more

“Risk-off” sentiment underpins ICE canola at midday

By Phil Franz-Warkentin, MarketsFarm WINNIPEG, Aug. 16 (MarketsFarm) – ICE Futures canola contracts were stronger at midday Friday, as traders adjusted positions ahead of the weekend in quiet trade. “We’re getting a little bit of profit-taking and position-squaring ahead of the weekend,” said a Winnipeg-based trader noting that “risk-off” sentiment was behind much of the […] Read more

ICE canola futures: Morning bids pushing upward

By Glen Hallick, MarketsFarm WINNIPEG, August 16 (MarketsFarm) – Intercontinental Exchange (ICE) futures canola contracts were higher Friday morning, as canola has been competitive with oilseeds and could receive spillover from other markets. Bids found strength in solid crush margins, which are at their best levels so far this year. Crop conditions are generally favourable […] Read more

Canadian dollar and business outlook

By MarketsFarm WINNIPEG, Aug. 16 (MarketsFarm) – The Canadian dollar was slightly firmer Friday morning, seeing some consolidation ahead of the weekend. At 8:43 CDT Friday morning the Canadian dollar was at US$0.7518 or C$1.3301 which compares with Thursday’s North American close of US$0.7505 or C$1.3325. After dropping in sympathy with crude oil earlier in […] Read more