Markets & Production Tips - Grainews

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Rising CBOT soybeans facing resistance

By Phil Franz-Warkentin September 25, 2024

Optimism over increased Chinese demand along with weather concerns in Brazil gave the Chicago soybean market a boost and triggered some fund short covering over the past week, but the futures will likely face stiff resistance to the upside going forward.

North American Grain and Oilseed Review: Another day of gains for canola

U.S. soybeans, corn, wheat climb higher

By GFM Network News September 25, 2024

By Glen Hallick, MarketsFarm Glacier Farm Media MarketsFarm – Intercontinental Exchange canola futures closed higher on Wednesday, as its November contract pushed further above its now former resistance level of C$600 per tonne. A trader commented that support from technicals and short covering propelled canola upward. The November contract surpassed its 20 and 50-day moving […] Read more

ICE Canola Midday: Leaving its resistance level behind

Nov. contract continues above $600/tonne

By GFM Network News September 25, 2024

Intercontinental Exchange canola futures continued upward at midday Wednesday, as the November canola contract pushed further above its former resistance level of C$600 per tonne. A trader said the markets are essentially ignoring two important aspects. One of those being the strike by grain workers at the Port of Vancouver that started on Tuesday. He […] Read more

Currency Markets

Canadian Dollar and Business Outlook: Loonie pushes higher

Crude oil slips on skepticism towards China

By GFM Network News September 25, 2024

By Glen Hallick Glacier FarmMedia MarketsFarm – The Canadian dollar climbed higher Wednesday morning as its United States counterpart sagged. However, increases were checked by small declines in crude oil. As of 9:03 am CDT, the loonie was at US$0.7439 or US$1=C$1.3444 compared to Tuesday’s close of US$0.7425 or US$1=C$1.3468. On the U.S. Dollar Index, […] Read more

Global Markets: Grain workers strike enters second day

Federal negotiators helping with talks

By GFM Network News September 25, 2024

By Glen Hallick Glacier Farm Media MarketsFarm – The following is a glance at the news moving markets in Canada and globally. The strike by grain workers at the Port of Vancouver entered day two on Wednesday. With about 52 per cent of Canada’s grain exports going through the port, the Grain Growers […] Read more

ICE canola makes gains on Wednesday morning

By GFM Network News September 25, 2024

Glacier FarmMedia MarketsFarm – The ICE Futures canola market was finding strength on Wednesday morning due to rising vegetable oils. Chicago soyoil and Malaysian palm oil were up, while European rapeseed was mostly higher. However, crude oil corrected itself on Wednesday after making gains yesterday following China’s newly-announced economic stimulus package. The Canadian dollar was up […] Read more

(Photo courtesy Canada Beef Inc.)

Markets, Reuters

U.S. livestock: CME cattle end mostly higher as Wall Street climbs

By Julie Ingwersen, Reuters September 24, 2024

Benchmark December live cattle futures LCZ24 on the Chicago Mercantile Exchange climbed to their highest in nearly two months on Tuesday, supported by technical buying and a rosy outlook for beef demand tied to strength in Wall Street equity markets, analysts said.

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

Markets, Reuters

U.S. grains: Soybeans hit 2-month high before paring gains; corn, wheat sag

By Julie Ingwersen, Reuters September 24, 2024

U.S. soybean and corn futures climbed to two-month highs on Tuesday, following broad gains in commodity and equity markets after China unveiled economic stimulus measures, but pared gains as forecasts called for improved crop weather in South America, analysts said.

Photo: Victoria Popova/iStock/Getty Images

Pulse weekly: Wide-ranging yields for Manitoba dry beans, peas

By Adam Peleshaty September 24, 2024

Yields for Manitoba dry beans and peas vary depending on where you are in the province, according to the Manitoba government's pulse specialist.

Currency Markets

Canadian Financial Close: Loonie rises further

Greenback down, crude oil up

By GFM Network News September 24, 2024

By Glen Hallick Glacier Farm Media|MarketsFarm – The Canadian dollar climbed further above the 74 U.S. cent-mark on Tuesday, gleaning strength from a weaker United States dollar and increases in crude oil. The loonie closed at US$0.7425 or US$1=C$1.3468, compared to Monday’s finish of US$0.7402 or US$1=C$1.3510. On the U.S. Dollar Index, the greenback lost […] Read more