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Currency Markets

Canadian Dollar and Business Outlook: Loonie slips under 72 U.S. cents

Crude oil falls with ceasefire hopes

By GFM Network News October 28, 2024

By Glen Hallick Glacier FarmMedia MarketsFarm – The Canadian dollar was lower on Monday morning, due to sharp losses in crude oil. As of 8:34 am CDT, the loonie was at US$0.7198 or US$1=C$1.3892 compared to Friday’s close of US$0.7209 or US$1=C$1.3872. On the U.S. Dollar Index, the greenback shed 0.057 of a point at […] Read more

Detail from the front of the CBOT building in Chicago. (Vito Palmisano/iStock/Getty Images)

Markets, Reuters

U.S. grains: CBOT soybeans, corn drop on continued supply pressure

By Renee Hickman, Reuters October 25, 2024

Chicago Board of Trade soybean and corn futures fell on Friday, as hefty supply from a rapid U.S. harvest weighed heavily over contracts, market analysts said.

(Photo courtesy Canada Beef Inc.)

Markets, Reuters

U.S. livestock: Cattle futures fall on positioning before USDA data release

By Renee Hickman, Reuters October 25, 2024

Chicago Mercantile Exchange live cattle futures dipped slightly on Friday, while feeder cattle and lean hogs ticked up as traders squared positions prior to the release of the U.S. Department of Agriculture's Cattle on Feed report, after a choppy week of trading, analysts said.

John Deere video screengrab via YouTube

Equipment, Global markets, Machinery

John Deere responds to tariff threat

A Trump threat and social media backlash have Deere stating its commitment to U.S. manufacturing

By Scott Garvey October 25, 2024

In late September, Donald Trump made a surprising statement during a campaign rally, although Trump’s behaviour is now generally so consistently bizarre that it’s difficult to call any statement surprising. But this one caught the ag community a bit off guard. Earlier in the year, John Deere had announced it was moving some production out […] Read more

Currency Markets

Canadian Financial Close: Canola tumbles, crude oil stronger

By GFM Network News October 25, 2024

Glacier FarmMedia | MarketsFarm – The Canadian dollar dropped to its lowest level in nearly a year on Friday. The loonie was at US$0.7209 or US$1=C$1.3872, compared to US$0.7223 or US$1=C$1.3845 on Thursday. The last time the Canadian dollar closed this low was on Nov. 1, 2023. The United States Dollar Index was up 0.22 of […] Read more

North American Grain and Oilseed Review: Canola’s about-face to end week on positive note

Lots of red in U.S. commodities

By GFM Network News October 25, 2024

By Glen Hallick, MarketsFarm Glacier Farm Media MarketsFarm – Intercontinental Exchange canola futures turned around to close higher on Friday after losing earlier gains this morning. Ongoing ideas of Canada’s canola crop likely to be well short of Statistics Canada’s estimate of 18.98 million tonnes continued to underpin the market. A number of projections put […] Read more

ICE Canola Midday: Prices now receding

Canola 'overbought' says analyst

By GFM Network News October 25, 2024

By Glen Hallick Glacier Farm Media MarketsFarm – Intercontinental Exchange canola futures turned lower at midday Friday, in a likely sell-off ahead of the weekend. November options are set to expire today with Oct. 31 scheduled for first notice day. An analyst commented canola was “overbought” stochastically, but noted the market wasn’t bearish. Pressure on […] Read more

Global Markets: Retail sales improve in August

StatCan projects similar increase for September

By GFM Network News October 25, 2024

Global Markets: Retail sales improve in August By Glen Hallick Glacier Farm Media MarketsFarm – The following is a glance at the news moving markets in Canada and globally. Statistics Canada reported on Friday that retail sales in August rose 0.4 per cent at C$66.6 billion. Fueling the increase was the motor […] Read more

ICE canola inches upward

By GFM Network News October 25, 2024

Glacier FarmMedia | MarketsFarm – The ICE Futures canola market showed small gains on Friday morning, supported by export demand while negative sentiment in the vegetable oils tempered the increases. Canola prices are being supported by provincial crop reports and farmers saying average canola yields are well below Statistics Canada’s projections, adding that actual production may […] Read more

Currency Markets

Canadian Dollar and Business Outlook: Little movement in loonie

Greenback holding firm

By GFM Network News October 25, 2024

By Glen Hallick Glacier FarmMedia MarketsFarm – The Canadian dollar was relatively steady on Friday morning, due to a firm United States dollar and modest upticks in crude oil. As of 8:44 am CDT, the loonie was at US$0.7220 or US$1=C$1.3851 compared to Thursday’s close of US$0.7223 or US$1=C$1.3845. On the U.S. Dollar Index, the […] Read more