Markets
Chicago Mercantile Exchange cattle futures rose for a third-straight session Wednesday on strong cash cattle prices, as feeder cattle followed, analysts said.
Markets
U.S. livestock: Live cattle futures close at highest since May on strong cash prices
ICE Canada Weekly: Canola could enter narrow range
Soyoil, loonie, StatCan report among supportive factors
As the turnaround in canola continued, analyst said there are three factors underpinning the swing upward. David Derwin, commodities futures advisor for Ventum Financial in Winnipeg, pointed to the gains made by soyoil futures on the Chicago Board of Trade, the weakening of the Canadian dollar, and the reduction in the canola harvest made by Statistics Canada.
Canadian Financial Close: C$ firm following BoC rate cut
Glacier FarmMedia | MarketsFarm — The Canadian dollar was slightly firmer on Wednesday, seeing a muted reaction to the latest monetary policy announcement from the Bank of Canada. The Canadian dollar settled at US$0.7065 or US$1=C$1.4154 on Wednesday, which compares with Tuesday’s close of US$0.7059 or US$1=C$1.4167. Canada’s central bank cut its key overnight interest […] Read more
CBOT Weekly: WASDE report brings surprise cut to corn
A larger-than-expected cut to corn carryout in the USDA's monthly WASDE report on Dec. 10 affected prices at the Chicago Board of Trade.
North American Grain and Oilseed Review: Canola clings to small increases
Gains at CBOT slip back, with some losses
By Glen Hallick, MarketsFarm Glacier Farm Media MarketsFarm – Intercontinental Exchange canola futures barely hung on to its gains Wednesday, as support from comparable oils evaporated. Upticks in Chicago soyoil and soymeal, as well as European rapeseed turned into losses. There were increases in Chicago soybeans while Malaysian palm oil was mixed. Advances in crude […] Read more
ICE Canola Midday: Support from stronger soyoil, lower loonie
Tighter canola supplies also a factor
By Glen Hallick Glacier Farm Media MarketsFarm – Intercontinental Exchange canola futures continued upward late Wednesday morning, as a Winnipeg-based analyst credited the upswing to a combination of movements in Chicago soyoil and the Canadian dollar. Gains in soyoil and recent weakness in the Canadian dollar contributed to the strength in canola, the analyst said. […] Read more
Russia to plant more oilseeds as wheat’s profitability falls
Russia may increase the planting of oilseeds next year as farmers look for more profitable crops to replace low-margin crops such as wheat, Russia's main agricultural export, said Dmitry Rylko, head of the IKAR consultancy, on Wednesday.
Canadian dollar and business outlook
Glacier FarmMedia | MarketsFarm — The Canadian dollar was stronger Wednesday morning as currency traders reacted to the latest monetary policy announcement from the Bank of Canada. At 9:05 a.m. CST the Canadian dollar was trading at US$0.7079 or US$1=C$1.4126 which compares with Tuesday’s close of US$0.7059 or US$1=C$1.4167. Canada’s central bank cut its key […] Read more
Global Markets: BoC makes big move
Unemployment data leads to sizeable cut
By Glen Hallick Glacier Farm Media MarketsFarm – The following is a glance at the news moving markets in Canada and globally. The Bank of Canada slashed its key interest rates by 50 basis points on Wednesday, lowering its overnight and deposit rates to 3.25 per cent and its bank rate to 3.75 […] Read more
ICE canola rally continues
Glacier FarmMedia | MarketsFarm – The ICE Futures canola market continued its climb on Wednesday morning despite negative vegetable oils. Chicago soyoil, European rapeseed and Malaysian palm oil were all in the red. Meanwhile, crude oil was higher amid tensions in the Middle East and speculation the Biden administration may impose harsher sanctions against Russian oil. […] Read more
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