Markets
While producers could feel the pinch of a strike at the Port of Vancouver's grain terminals within a week, the markets won't feel much of a hit unless the strike continues for three or four weeks, analysts said.
Markets
Exports could take a hit as Vancouver grain terminals workers strike
North American grain/oilseed review: Canola climbs above resistance
By Phil Franz-Warkentin Glacier FarmMedia MarketsFarm—The ICE Futures canola market was stronger on Tuesday, as chart-based positioning provided support. A move back above C$600 per tonne in the November contract was bullish from a technical standpoint, with gains in Chicago soybeans and soyoil providing spillover support. European rapeseed and Malaysian palm oil were also […] Read more
Klassen: Western Canadian feeder market demand remains firm
Ontario buying interest was evident in Manitoba yearling markets. U.S. buyers were more interested in lighter calves and were shopping for pre-conditioned groups of sizeable volume. Certain finishing operators in Alberta were more aggressive on grass yearlings after waiting for lower prices earlier in the season.
ICE canola continues higher, facing resistance
By Phil Franz-Warkentin Glacier FarmMedia | MarketsFarm–The ICE Futures canola market was stronger at midday Tuesday, but was running into major resistance as selling came forward at the highs. Gains in Chicago soybeans and soyoil provided spillover support for canola. European rapeseed and Malaysian palm oil were also higher on the day. Dryness hampering soybean […] Read more
Global Markets: Israeli airstrikes on Beirut continue
By Phil Franz-Warkentin Glacier FarmMedia | MarketsFarm–The following is a glance at the news moving markets in Canada and globally. An Israeli airstrike on Beirut targeting a Hezbollah commander killed six people, with Lebanese authorities reporting that more than 500 people were dead from the strikes over the past few days. While thousands of civilians […] Read more
Canadian Dollar and Business Outlook: Loonie up, crude oil surges
The Canadian dollar continued its rise on Tuesday. The loonie was at US$0.7412 or US$1=C$1.3492 as of 8:34 a.m. CDT, compared to US$0.7402 or US$1=C$1.3510 on Monday. The United States Dollar Index was down 0.12 of a point at 100.73. Crude oil rallied after China announced an economic stimulus package that includes a 50 basis […] Read more
ICE Canada Morning Comment: Canola riding gains in comparable oils
Strike looms at Port of Vancouver
By Glen Hallick Glacier Farm Media MarketsFarm – Intercontinental Exchange canola futures were higher on Tuesday morning, getting support from comparable oils. Concerns over dry conditions in South America continued to fuel increases in the Chicago soy complex. Also, there were gains in European rapeseed and Malaysian palm oil. Increases in crude oil were spilling […] Read more
U.S. grains: Soybeans climb on supply risks, short-covering; corn, wheat also up
Chicago Board of Trade soybean futures hit nearly a seven-week high on Monday as uncertainty about Brazilian planting weather and the size of the U.S. harvest sparked a round of fund-driven short-covering, analysts said.
Canadian Financial Close: Loonie moving upwards, crude oil weaker
Glacier FarmMedia MarketsFarm – The Canadian dollar moved above the 74 United States cent mark on Monday. The loonie was at US$0.7402 or US$1=C$1.3510, compared to US$0.7372 or US$1=C$1.3565 on Friday. The U.S. Dollar Index was up 0.14 of a point at 100.86. Crude oil was down on Monday after Iranian president Masoud Pezeshkian told […] Read more
Canola net short position grows
The net fund short position in canola grew in mid-September, as speculative selling took the futures to contract lows, according to the latest Commitments of Traders report from the United States Commodity Futures Trading Commission (CFTC).
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