GFM Network News

Canadian Dollar and Business Outlook: Loonie falls back from 79 U.S. cents

Biden's $1.9 trillion plan boosts greenback

By MarketsFarm WINNIPEG, Jan. 15 (MarketsFarm) – The Canadian dollar was down sharply on Friday morning as its United States counterpart gained strength. As of 8:40 CST, the Canadian dollar was at US$0.7861 or C$1.2723, compared to Thursday’s close of US$0.7903 or C$1.2654. On the U.S. Dollar Index, the greenback was up 0.345 at 90.560 […] Read more

Trudeau names new transport, foreign affairs ministers

Garneau to handle foreign policy; Omar Alghabra takes transport

Ottawa | Reuters — Prime Minister Justin Trudeau named new ministers for foreign affairs and transport on Tuesday ahead of an election that insiders in his Liberal Party say is likely this year. Trudeau’s hand was forced when Innovations Minister Navdeep Bains, 43, unexpectedly announced he was resigning from politics for family reasons. Bains, who […] Read more

Canada consulting at home toward Indonesia trade deal

Possibility of broader Southeast Asian pact also looms

Continuing to seek out free trade deals in the Asia-Pacific region, Canada has launched public consultations on the merits of a potential bilateral pact with Indonesia. “Deepening trade ties with Indonesia would benefit Canadian businesses of all sizes and lead to economic growth and prosperity for years to come,” International Trade Minister Mary Ng said […] Read more

Feed weekly outlook: Barley market’s eye on exports, corn prices

MarketsFarm — Strong export demand for Canadian barley and rising corn prices in the U.S. are expected to continue to keep feed prices well supported in Western Canada. “Feed grains are being squeezed by lower imports of U.S. corn into Western Canada,” analyst Chuck Penner of Leftfield Commodity Research said in a presentation Tuesday for […] Read more

U.S. grains: Soybeans, corn, wheat rally

Futures up, but below recent peaks

Chicago | Reuters — U.S. soybean futures rose 1.7 per cent on Thursday, underpinned by the strong demand highlighted in the U.S. Agriculture Department’s monthly supply and demand report on Tuesday, traders said. Corn futures also rallied, with the market receiving a boost after the U.S. Environmental Protection Agency said it would not rule on […] Read more

U.S. livestock: Cattle, hog futures fall as corn rises

U.S. beef, pork export sales both up on week

Chicago | Reuters — CME feeder cattle futures fell on Thursday, retreating back toward a three-month low on prospects for increased input costs for livestock operators due to surging corn prices. “It is the rising feed costs,” said Alan Brugler, president of Brugler Marketing + Management. “With the corn being up another 10 cents today, […] Read more

Canadian Financial Close: Loonie continues rising

Dollar pushes above 79 U.S. cents

By MarketsFarm WINNIPEG, Jan. 14 (MarketsFarm) – The Canadian dollar was stronger on Thursday, closing above 79 U.S. cents due to a slightly weaker United States dollar and gains in crude oil prices. The dollar finished at US$0.7903 or US$1.2654, compared to Tuesday’s close of US$0.7868 or US$1=C$1.2710. The U.S. Dollar Index saw the greenback […] Read more

North American Grain and Oilseed Review: Canola finishes day on higher note

CBOT soy complex makes another jump

By Glen Hallick, MarketsFarm WINNIPEG, Jan. 14 (MarketsFarm) – Intercontinental Exchange (ICE) Futures canola contracts were higher on Thursday, on a turnaround from earlier losses. Those were followed by gains that hit new contract highs, before prices settling off of those levels There was support from strong gains in the Chicago soy complex, especially soyoil. […] Read more

ICE Canola Midday: Prices making gains

Support from wheat as well as CBOT soyoil

By Glen Hallick, MarketsFarm WINNIPEG, Jan. 14 (MarketsFarm) – Intercontinental Exchange (ICE) Futures canola contracts were mostly higher at midday Thursday, recovering from losses earlier in the session. Support was coming from gains in soyoil on the Chicago Board of Trade. Meanwhile declines in European rapeseed and Malaysian palm oil weighed on values. However, it’s […] Read more

Global Markets: Yemen facing widespread famine

U.S. warned terrorist designation a mistake

By MarketsFarm WINNIPEG, Jan. 14 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally. – The United Nations warned the United States on Thursday that the latter’s move to designate Houthi rebels in Yemen’s ongoing civil war as a terrorist group could lead to widespread famine in the […] Read more