Markets
Chicago wheat fell for a third straight session on Tuesday, as rain in growing areas of the U.S. Plains improved moisture for the crop, reinforcing expectations of a well-supplied market, according to analysts.
Markets
U.S. grains: Wheat falls on rain in growing regions
U.S. livestock: Cattle fall on unconfirmed screwworm report
Chicago cattle futures fell on Tuesday as an unconfirmed report of a case of New World screwworm led to a sell-off.
Canadian Financial Close: Loonie, crude oil in the red
Glacier FarmMedia | MarketsFarm – The Canadian dollar took a step back on Tuesday as United States markets re-opened following the Memorial Day weekend. The loonie ended the day at US$0.7260 or US$1=C$1.3775, compared to US$0.7283 or US$1=C$1.3731 on Monday. The U.S. Dollar Index was up 0.50 of a point at 99.61 after President Donald Trump […] Read more
North American Grain and Oilseed Review: Canola pushes higher
Chicago soy complex bumps up, wheat falls back
By Glen Hallick, MarketsFarm Glacier Farm Media MarketsFarm – Intercontinental Exchange canola futures closed higher on Tuesday due to bullish chart signals. The July contract remained handily above its major moving averages. Tighter old crop supplies continued to underpin canola as did concerns over increasing dryness across much of the Prairies. Support for canola also […] Read more
Klassen: Lower beef production forecasts support feeder complex
Improving feedlot margins contributed to the stronger feeder market. Alberta packers were buying finished cattle on a dressed basis at $500/cwt delivered which was fresh record high. Using a 60 per cent grading, this equates to a live price of $300/cwt. Feedlot breakeven pen closeouts are in the range of $260-$270/cwt. Feedlots are anxious to reload and larger groups of quality packages are limited at this time of year.
Pulse Weekly: Pulse Canada awaits India decision on peas
India, like China, could put tariffs on Canadian peas
Pulse Canada is in anticipation of a decision by India whether or not to impose tariffs on Canadian yellow peas beginning June 1.
ICE canola up at midday Tuesday
By Phil Franz-Warkentin Glacier FarmMedia | MarketsFarm — The ICE Futures canola market was stronger at midday Tuesday, as bullish chart signals and gains in outside markets provided support. Fresh optimism over a possible announcement on renewable fuel blending obligations in the United States this week underpinned the Chicago soy complex, which contributed to […] Read more
Weak Chinese demand leaves Australia with too much wheat
Australian wheat inventories will likely be much higher than last year at the end of the season, pressuring prices, because of a drop in Chinese imports and competition from ample supplies out of rival exporter Russia, analysts and traders said.
Global Markets: King Charles delivers throne speech
The following is a glance at the news moving markets in Canada and globally. – King Charles III will deliver the Throne Speech to open the 45th Parliament in Ottawa later today. It would be the third time the sitting monarch will deliver the speech to open a parliamentary session after Charles’ mother Queen Elizabeth […] Read more
ICE canola climbing higher Tuesday morning
Glacier FarmMedia | MarketsFarm — The ICE Futures canola market was stronger Tuesday morning, as activity resumed in the United States markets after the Memorial Day long weekend. Gains in Chicago soyoil and soybeans provided spillover support, with European rapeseed and Malaysian palm oil also up on the day. Bullish chart signals contributed to the […] Read more