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Canola, Markets

ICE canola weekly outlook: Weak soybeans a “problem”

By Phil Franz-Warkentin October 16, 2024

The ICE Futures canola market backed away from nearby highs during the week ended Oct. 16, as losses in Chicago soybeans and soyoil weighed on values. With the canola harvest in its final stages across Western Canada, the market will likely settle in a sideways range while looking to outside influences for direction.

Currency Markets

Canadian Financial Close: Loonie up, TSX hits all-time high

By GFM Network News October 16, 2024

Glacier FarmMedia MarketsFarm – The Canadian dollar stepped up on Wednesday. The loonie was at US$0.7262 or US$1=C$1.3771, compared to US$0.7244 or US$1=C$1.3805 on Tuesday. The United States Dollar Index was up 0.30 of a point at 103.56. Crude oil was mixed one day after Israel said it will not attack Iranian crude oil facilities. […] Read more

North American grain/oilseed review: Canola holds onto small gains

By GFM Network News October 16, 2024

By Phil Franz-Warkentin Glacier FarmMedia MarketsFarm — The ICE Futures canola market held onto small gains at Wednesday’s close but finished well off its session highs. Speculative positioning and end-user bargain hunting provided some early support for canola. However, farmer selling came forward at the highs and values drifted back towards unchanged. The November […] Read more

ICE canola correcting higher Wednesday

By GFM Network News October 16, 2024

By Phil Franz-Warkentin Glacier FarmMedia | MarketsFarm — The ICE Futures canola market was stronger at midday Wednesday, taking back some of Tuesday’s losses amid ideas the downturn was overdone. End-user bargain hunting, as Canadian canola remains attractively priced compared to most other global oilseeds, contributed to the gains. The move back above C$600 per […] Read more

Currency Markets

Canadian dollar and business outlook

By GFM Network News October 16, 2024

Glacier FarmMedia | MarketsFarm — The Canadian dollar was firmer Wednesday morning, finding some support after declining relative to its United States counterpart for the past two weeks. At 9:27 a.m. CDT the Canadian dollar was trading at US$0.7257 or US$1=C$1.3780, which compares with Tuesday’s close of US$0.7244 or US$1=C$1.3805. Canadian manufacturing sales decreased by […] Read more

Global Markets: Israeli attacks on Lebanon/Gaza continue

By GFM Network News October 16, 2024

Glacier FarmMedia | MarketsFarm — The following is a glance at the news moving markets in Canada and globally. The latest Israeli airstrikes across Lebanon killed at least 21 people, according to reports. One airstrike on a town in southern Lebanon left six people dead, including the town’s mayor, according to reports. Lebanon’s interim […] Read more

ICE canola erases Tuesday’s losses

By GFM Network News October 16, 2024

The ICE Futures canola market rebounded on Wednesday morning due to rising vegetable oil prices. Chicago soyoil, European rapeseed and Malaysian palm oil were all in positive territory. Meanwhile, crude oil was slightly lower after Tuesday’s price drop. The Canadian dollar was up more than one-tenth of a United States cent compared to Tuesday’s close. […] Read more

Markets, Reuters

U.S. livestock: Cattle futures fall on technical trading, retail price caution

By Renee Hickman, Reuters October 15, 2024

Chicago Mercantile Exchange live cattle futures dropped on Tuesday in a technical correction from a five-week rally and on concerns that high prices may cool beef demand, according to analysts.

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Markets, Reuters

U.S. grains: Corn, soy down on South America rains; crude, equities sell-off

By Karl Plume, Reuters October 15, 2024

U.S. corn and soybean futures fell for a fourth straight session on Tuesday and hit multi-week lows, guided by sharp declines in equities and crude oil and forecasts for timely rains in Brazil that have tempered worries about early-season planting delays.

Currency Markets

Canadian Financial Close: Loonie, inflation rate down

By GFM Network News October 15, 2024

The Canadian dollar took a step back coming out of the Thanksgiving Day weekend. The loonie was at US$0.7244 or US$1=C$1.3805, compared to US$0.7267 or US$1=C$1.3761 on Friday. Statistics Canada reported today the country’s inflation rate declined to 1.6 per cent, its lowest level in more than three years. The Bank of Canada was closed […] Read more