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ICE Canola Midday: Prices continuing to reach new highs

January contract sees $599/tonne

By Glen Hallick, MarketsFarm WINNIPEG, Dec. 4 (MarketsFarm) – Intercontinental Exchange (ICE) Futures canola contracts were pushing to new highs at midday Friday, riding the support from yesterday’s Statistics Canada report, according to a Winnipeg-based trader. At one point the January contract reached $599 per tonne before backing off. The trader added that strong vegetable […] Read more

Canadian dollar and business outlook

By MarketsFarm WINNIPEG, Dec. 4 (MarketsFarm) – The Canadian dollar was stronger on Friday morning.      At 8:45 CST Friday morning the Canadian dollar was at US$0.7792 or US$1=C$1.2833, which compares with Thursday’s North American close of US$0.7764 or US$1=C$1.2880. Global stock indices were stronger. Statistics Canada reported the Canadian economy added 62,000 jobs in […] Read more

ICE canola nearing C$600 per tonne early Friday

By Phil Franz-Warkentin, MarketsFarm WINNIPEG, Dec. 4 (MarketsFarm) – The ICE Futures canola market was stronger Friday morning, hitting its highest levels in seven years as bullish technical signals and the need to ration tightening supplies provided support. Updated production estimates released by Statistics Canada on Thursday remained a key driver, as the canola crop […] Read more

Global Markets: Deal with U.S. to send Huawei exec home

Could lead to release of the two Michaels

By MarketsFarm WINNIPEG, Dec. 4 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally. – The Wall Street Journal reported on Friday that officials from the United States Department of Justice have been in talks with representatives of Huawei executive Meng Wanzhou. Detained since her December 2018 arrest […] Read more

Feed weekly outlook: Export demand supports prices

MarketsFarm — Feed grain prices remain strong into the winter, due to steady feedlot demand and solid export activity. Brandon Motz of CorNine Commodities at Lacombe, Alta. said feedlots have freed up some pen space after COVID-19 shutdowns created backlogs, but demand remained steady. “There’s more pen space in southern Alberta, compared to other years,” […] Read more

U.S. livestock: Cattle futures step back on demand uncertainty

February lean hog futures lower

Chicago | Reuters — Live cattle futures trimmed on Thursday as fears of additional pandemic closures weighed on the demand outlook, traders said. Chicago Mercantile Exchange February live cattle futures fell 1.35 cents to 112.575 cents/lb., the contract’s biggest decline in two weeks (all figures US$). CME January feeder cattle ended two cents lower at […] Read more

Canadian Financial Close: Dollar stronger on Thursday

By MarketsFarm WINNIPEG, Dec. 3 (MarketsFarm) – The Canadian dollar was stronger on Thursday. The dollar finished the day at US$0.7764 or US$1=C$1.2880, compared to Wednesday when it closed at US$0.7731 or US$1=C$1.2934. Global stock indices were slightly lower, following news that Pfizer is struggling with supply-chain issues with the COVID-19 vaccine. This erased previous […] Read more

U.S. grains: Soybeans up one per cent as soyoil climbs

Corn up; wheat declines on global supply outlooks

Chicago | Reuters — U.S. soybean futures rose about one per cent on Thursday, rallying on bargain buying after a two-week low set a day earlier and on uncertainty about South American crop prospects, traders said. Soybeans also drew support from strength in soybean oil futures, which advanced about two per cent on news of […] Read more

North American Grain and Oilseed Review: Canola reaches new contract highs

StatsCan report lower canola production

By Glen Hallick, MarketsFarm WINNIPEG, Dec 3 (MarketsFarm) – Intercontinental Exchange (ICE) Futures canola contracts were stronger on Thursday, hitting new contract highs following the release of the Statistics Canada report on principal field crops. The federal agency dropped its estimate for canola production in 2020/21 from 19.4 million tonnes to 18.7 million. Dry conditions […] Read more

Canada’s canola harvest smallest in five years

Wheat crop a bin-buster, StatsCan report finds

Winnipeg | Reuters — Canadian farmers produced the smallest canola crop in five years, but the largest wheat output since 2013, Statistics Canada said in its final harvest estimate of the year. Canola production looked set to reach 18.7 million tonnes, down 4.5 per cent from last year and below trade expectations. It was a […] Read more