GFM Network News

MarketsFarm Morning Radio Show Aug. 10

By Marlo Glass, MarketsFarm WINNIPEG, Aug. 10 (MarketsFarm) – Intercontinental Exchange (ICE) futures canola contracts were weaker on Monday morning, due to pressure from outside markets. Declines in Chicago soyoil were a negative factor for canola prices. Nearby Chicago soyoil contracts were weaker by about two tenths of a cent in early morning trade. Relative […] Read more

Feed weekly outlook: Barley bids drop ahead of harvest

MarketsFarm — Seasonal harvest pressure is already weighing on the Canadian feed barley market, with most end users covered for the time being and waiting for the new crop. “We’re seeing buyers fill up” on barley, said Susanne Leclerc of Market Master in Edmonton. Bids were dropping on a daily basis from those still in […] Read more

Prairie cash wheat: Loonie, U.S. prices trigger steep declines

U.S. wheat futures well down on week

MarketsFarm — Wheat bids in Western Canada were significantly lower for the week ended Thursday. Those includes double-digit losses for Canada Western Red Spring (CWRS) wheat and Canada Prairie Spring Red (CPSR). Losses in Canada Western Amber Durum (CWAD) were relatively smaller. Pressure came from sharp losses in U.S. markets and equally sharp gains in […] Read more

Managed money’s net long position grows in canola

MarketsFarm — Fund traders remained on the buy side in canola in early August, adding to their recently established net long position, according to the latest commitment of traders (CoT) report from the U.S. Commodity Futures Trading Commission (CFTC). Managed money fund traders were holding a net long position in ICE Futures canola of 24,489 […] Read more

Canola exports top 10 million tonnes in 2019-20

MarketsFarm — Total Canadian canola exports during the 2019-20 crop year were up nine per cent on the year, and slightly above the five-year average, according to the latest weekly data from the Canadian Grain Commission (CGC). With 229,800 tonnes exported during the final week of the 2019-20 marketing year, the preliminary total canola exports […] Read more

U.S. grains: Bearish supply outlooks spark selling in corn, soy, wheat

Wheat outlooks in Canada, Russia, Australia bearish

Chicago | Reuters — U.S. soybean futures fell for the fourth day in a row to their lowest since June 30 as expectations kept building that growing supplies will outstrip demand even as top buyer China steps up its purchases, traders said. A bearish supply outlook also pressured wheat futures, which dropped to a one-month […] Read more

U.S. livestock: Hog futures rise on good cash market demand

October live cattle close lower

Chicago | Reuters — Chicago Mercantile Exchange hog futures rose on Friday on signs of strength in the cash market after prices had stagnated, traders said. “Recent price weakness uncovered fresh demand, triggering buying on the board this morning that tripped buy stops, accelerating gains,” StoneX chief commodities economist Arlan Suderman wrote in a note […] Read more

Canadian Financial Close: C$ weakens amid U.S. trade spat

By MarketsFarm WINNIPEG, Aug. 7 (MarketsFarm) – The Canadian dollar was slightly weaker on Friday as trade issues with the United States weighed on the currency. The Canadian dollar closed at US$0.7476 or US$1=C$1.3377, which compares with Thursday’s North American close of US$0.7523 or US$1=C$1.3292. Canada is threatening retaliatory measures after the U.S. announced it […] Read more

North American Grain and Oilseed Review: Loonie, soyoil push canola either way

CBOT in red prior to USDA reports

By Glen Hallick, MarketsFarm WINNIPEG, Aug. 7 (MarketsFarm) – Intercontinental Exchange (ICE) Futures canola contracts traded either side of steady on Friday. Support came from a lower Canadian dollar, but weaker Chicago soyoil weighed on values. By mid-afternoon the loonie was at 74.66 U.S. cents, compared to Thursday’s close of 75.23. Chicago soyoil was down […] Read more

ICE Canola Midday: Price slipping due to weaker soyoil

Trader notes canola lags behind changes

By Glen Hallick, MarketsFarm WINNIPEG, Aug. 7 (MarketsFarm) – ICE Futures canola contracts were slightly lower at midday Friday, as soyoil values at the Chicago Board of Trade retreated. A Winnipeg-based trader said canola doesn’t react quickly to swings in soyoil, noting that product values were currently down about $3 per tonne. “Canola seems to […] Read more