GFM Network News

ICE Canada Morning Comment: Canola nudging a little higher

Little direction from other edible oils

By Glen Hallick, MarketsFarm WINNIPEG, Sept. 24 (MarketsFarm) – Intercontinental Exchange (ICE) canola futures were slightly higher on Friday morning, clinging on to gains made during the overnight session. There was little direction from comparable oils as the Chicago soy complex was slightly lower, while European rapeseed was up a little bit and Malaysian palm […] Read more

One Canada Square (tower at centre) houses the London head office of the International Grains Council. (Iliffd/iStock/Getty Images)

Grains council tweaks numbers in latest supply and demand data

MarketsFarm — The International Grains Council (IGC) released its monthly supply and demand report Thursday, projecting a six million-tonne increase in total global grain production at 2.289 billion tonnes in 2021-22. That change consisted of a seven million-tonne increase in global corn production, offset by a one million-tonne decrease in world wheat output. Soybean production […] Read more

CME October 2021 lean hogs (candlesticks) with 20-day moving average (dark red line) and cash lean hog index (pink line). (Barchart)

U.S. livestock: CME lean hogs firm on China’s herd restrictions

Cattle mixed to lower ahead of report

Chicago | Reuters — Chicago Mercantile Exchange (CME) lean hog futures firmed on Thursday, after China lowered its sow herd targets in an effort to ensure supply and stabilize prices. China’s ministry of agriculture and rural affairs said the target for its sow herd was now around 41 million head for 2021-2025 and should be […] Read more

CBOT December 2021 wheat (candlesticks) with December 2021 oats (orange line, left column). (Barchart)

U.S. grains: Wheat firms on global supply issues

Oats also push corn higher

Chicago | Reuters — Chicago wheat futures firmed on Thursday, strengthened by global supply concerns and a firming oat futures market on drought-stricken North American supplies. Corn and soybeans edged higher, supported by wheat and oats. The most-active wheat contract on the Chicago Board Of Trade (CBOT) added 12 cents to $7.17-3/4 a bushel (all […] Read more

Canadian Financial Close: Loonie closes above 79 U.S. cents

Greenback down, crude oil up

Compiled by Glen Hallick, MarketsFarm WINNIPEG, Sept. 23 (MarketsFarm) – The Canadian dollar was stronger on Thursday, slightly higher than 79 U.S. cents as the United States dollar weakened and crude oil prices increased. The loonie closed at US$0.7903 or US$1=C$1.2653, compared to Wednesday’s close of US$0.7839 or US$1=C$1.2756. On the U.S. Dollar Index, the […] Read more

North American Grain/Oilseed Review: Canola posts solid gains

By Phil Franz-Warkentin, MarketsFarm WINNIPEG, Sept. 23 (MarketsFarm) – The ICE Futures canola market was stronger on Thursday, underpinned by solid demand and gains in outside markets. European rapeseed and Malaysian palm oil futures both set fresh contract highs overnight. Chicago Board of Trade soyoil futures were also stronger. Seasonal harvest pressure did temper the […] Read more

CBOT December 2021 oats (candlesticks) with 20-, 50- and 100-day moving averages (yellow, orange and dark green lines). (Barchart)

CBOT oats climb on supply woes

Prairie drought eats at availability

Chicago | Reuters — Chicago Board of Trade December oats futures climbed their daily maximum of 25 cents per bushel on Wednesday, nearing a 7-1/2 hear high, after drought slashed supplies from top global supplier Canada at a time of robust demand for the grain, traders said. The December oats contract surged 25 cents to […] Read more

ICE climbs to one-week highs at midday

By Phil Franz-Warkentin, MarketsFarm WINNIPEG, Sept. 23 (MarketsFarm) – The ICE Futures canola market was stronger at midday Thursday, hitting its highest levels in a week as steady demand underpinned the futures. European rapeseed contracts climbed to fresh highs overnight, which provided spillover support for the Canadian oilseed. Chicago Board of Trade soyoil futures were […] Read more