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Global Markets: Air Canada cancels China flights

By MarketsFarm WINNIPEG, Feb. 26 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally. – Air Canada has cancelled all flights to mainland China until April 10 in the face of the spreading COVID-19 coronavirus outbreak. The airline already grounded flights for the month of February. The daily […] Read more

ICE canola futures: Wednesday morning bounce

By Glen Hallick, MarketsFarm WINNIPEG, Feb. 26 (MarketsFarm) – Intercontinental Exchange (ICE) futures canola contracts were steady to higher Wednesday morning, coming off of losses due to the coronavirus weighing on the markets. Declines in Chicago soyoil, European rapeseed and Malaysian palm oil are weighing on values. Blockades in support of the Wet’suwet’en heredity chiefs […] Read more

U.S. grains: Soybeans bounce, corn stabilizes

Warm winter, weaker Russian ruble drag on wheat

Chicago | Reuters — U.S. corn futures stabilized on Tuesday and soybean futures firmed in a mild recovery from the prior session’s steep drop on fears about the impact of the coronavirus outbreak. Wheat futures were mixed after posting fresh lows on technical selling and pressure from ample global supplies and stiff competition for U.S. […] Read more

U.S. livestock: CME cattle extend losses

COVID-19 coronavirus continues to rattle investors

Chicago | Reuters — Chicago Mercantile Exchange live and feeder cattle futures fell sharply for a second consecutive day on Tuesday as fears of a coronavirus pandemic stoked concerns about demand and slower global economic growth. Commodities funds liquidated more of their sizable long holdings in cattle after the U.S. Centers for Disease Control and […] Read more

Canadian Financial Close: Markets tumble again on coronavirus fears

Loonie holds firm amid calamity

By MarketsFarm WINNIPEG, Feb. 25 (MarketsFarm) – The Canadian dollar was virtually unchanged at market close on Tuesday, despite huge downward pressure from the futures markets. Investors turning away from weaker economies provided a counter influence. The loonie finished the day at US$0.7530 or US$1=C$1.3281, which compares with Monday’s close of US$0.7531 or C$1.3279. Coronavirus […] Read more

North American Grain/Oilseed Review: Canola settles at new lows

By Phil Franz-Warkentin, MarketsFarm WINNIPEG, Feb. 25 (MarketsFarm) – The ICE Futures canola market was weaker on Tuesday, seeing some follow-through speculative selling after Monday’s sharp declines. The market dropped to fresh contract lows in the process, although bargain hunting helped temper the declines. Losses in Malaysian palm oil and Chicago Board of Trade soyoil […] Read more

Cattle inventories continue to decline, StatsCan says

Canada's hog herd also down on year

MarketsFarm — Canada’s cattle herd in 2019 continued on its generally consistent path of declining numbers, according to new data Statistics Canada released Tuesday. Aside from a few slight increases in 2012, 2013 and 2018, Canadian cattle inventories have moved lower since 2005. At 11.2 million head, the reported number of cattle on farms in […] Read more

Deere taps tractor-hailing tech in bid to break ground in Africa

Low incomes, lack of credit hobble African mechanization

Nanyuki, Kenya/Johannesburg | Reuters — It’s ride-hailing, farm style. Deere and Co. is teaming up with the “Uber of tractors” in Africa and betting on a future where farmers summon machines with the touch of a button. The world’s leading farm equipment maker is outfitting its tractors with startup Hello Tractor’s technology, which allows farmers […] Read more

ICE canola drops to fresh lows at midday

By Phil Franz-Warkentin, MarketsFarm WINNIPEG, Feb. 25 (MarketsFarm) – The ICE Futures canola market was weaker at midday Tuesday, touching fresh contract lows as some stops were hit and speculators continued to add to their bearish bets. Losses in Malaysian palm oil and Chicago Board of Trade soyoil futures contributed to some spillover selling in […] Read more

Canadian dollar and business outlook

By MarketsFarm WINNIPEG, Feb. 25 (MarketsFarm) The Canadian dollar was holding steady Tuesday morning, as global equity markets stabilized after Monday’s selloff. At 9:02 CST Monday morning the Canadian dollar was at US$0.7529 or C$1.3282 which compares with Monday’s North American close of US$0.7531 or C$1.3279. Mounting concerns over the COVID-19 coronavirus remained a feature […] Read more