Markets & Production Tips

ICE Canada Weekly: Canola likely to fall back

By Glen Hallick - MarketsFarm July 10, 2024

The Canadian oilseed began to pull back on July 8 as it became caught up in a selloff in the global oilseed market. The November contract finished at C$658.20 per tonne on July 5, gaining more than C$31 on the week. However, by the close on July 10, that contract dropped to C$617.90.

Futures

North American Grain and Oilseed Review: Canola drops further, approaching major support level

Losses for U.S. soybeans, wheat as corn nudges up

By GFM Network News July 10, 2024

By Glen Hallick, MarketsFarm Glacier Farm Media MarketsFarm – Intercontinental Exchange canola futures were down by double digits on Wednesday, as the global oilseed selloff continued. A trader said the November contract could soon test the psychological support level of C$600 per tonne. There were moderate to sharp losses in the Chicago soy complex, European […] Read more

File photo of a Wyoming corn crop. (RiverNorthPhotography/iStock/Getty Images)

Markets

CBOT weekly: Good weather leads to new lows in Chicago soybeans and corn

By Phil Franz-Warkentin July 10, 2024

Soybean and corn futures at the Chicago Board of Trade fell to fresh contract lows in early July, as relatively favourable growing conditions and bearish technical signals weighed on values.

Futures

ICE Canola Midday: Sell-off presses on

Nov. canola below its moving averages

By GFM Network News July 10, 2024

By Glen Hallick Glacier Farm Media MarketsFarm – Intercontinental Exchange canola futures were pulling back at midsession Wednesday, largely due to a sell-off in oilseeds. “There’s no really big news, it’s just sell, sell, sell,” an analyst commented. Canola was feeling pressure from losses in European rapeseed and Malaysian palm oil. There were also declines […] Read more

Global markets

Global Markets: Inflation down in China, U.S. but with different concerns

As U.S. battle interest rate, China is facing deflation

By GFM Network News July 10, 2024

By Glen Hallick Glacier Farm Media MarketsFarm – The following is a glance at the news moving markets in Canada and globally. Inflation in China eased back to a 0.2 per cent increase in June from a 0.3 per cent gain in May, according to the country’s National Bureau of Statistics on Wednesday. […] Read more

Futures

ICE canola stuck trending lower Wednesday morning

By GFM Network News July 10, 2024

By Phil Franz-Warkentin Glacier FarmMedia MarketsFarm – The ICE Futures canola market was posting small losses Wednesday morning, seeing a continuation of the chart-based selling pressure that weighed on values earlier in the week. While chart-based positioning and ideas the recent losses were overdone had provided some support overnight, the path of least resistance […] Read more

Currency Markets

Canadian Dollar and Business Outlook: Loonie moves up, crude oil mixed

By GFM Network News July 10, 2024

Glacier FarmMedia MarketsFarm – The Canadian dollar made a small gain on Wednesday morning. The loonie was at US$0.7340 or US$1=C$1.3624 as of 8:33 a.m. CDT, compared to US$0.7332 or US$1=C$1.3638 on Tuesday. The United States Dollar Index was down 0.05 of a point at 105.07. Crude oil prices were mixed as a drawdown in United […] Read more

File photo of cattle on feed near Champion, Alta., about 75 km north of Lethbridge. (James_Gabbert/iStock/Getty Images)

Beef Cattle, Cattleman’s Corner, Markets

Tighter fed cattle supplies support feeder market

U.S. beef producers are not yet holding back enough heifers for expansion

By Jerry Klassen July 9, 2024

During the first week of June, Alberta packers were buying fed cattle on a live basis at $261 per hundredweight, f.o.b, feedlot in southern Alberta, up $4/cwt from a month earlier. Market-ready supplies of fed cattle were sharply above year-ago levels earlier in winter, but the backlog has slowly been alleviated through the spring period. […] Read more

Markets, Reuters

U.S. livestock: Cattle futures lower on dip in consumer demand

By Heather Schlitz, Reuters July 9, 2024

CME live and feeder cattle futures turned lower on Tuesday as cutout values fell and consumer demand waned following the end of major steak-eating holidays, traders said.

Markets, Reuters

U.S. grains: Wheat, corn recover after slide; soy hits 2020 low

By Heather Schlitz, Reuters July 9, 2024

Chicago wheat and corn futures ticked higher on Tuesday after sharp declines on Monday, while most-active soybean futures closed at their lowest point in nearly four years, as expectations of ample supplies from northern hemisphere harvests hung over the market.

GFM Network News

CFIA says regulatory changes will cut agricultural red tape

U.S. livestock: Feeder cattle hit record high on tight supply, strong cash prices

ICE Canada Weekly: Canola poised to slip below C$600/tonne

Markets

ICE Canada Weekly: Canola likely to fall back

North American Grain and Oilseed Review: Canola drops further, approaching major support level

CBOT weekly: Good weather leads to new lows in Chicago soybeans and corn

ICE Canola Midday: Sell-off presses on

Global Markets: Inflation down in China, U.S. but with different concerns

ICE canola stuck trending lower Wednesday morning

Canadian Dollar and Business Outlook: Loonie moves up, crude oil mixed

Tighter fed cattle supplies support feeder market

U.S. livestock: Cattle futures lower on dip in consumer demand

U.S. grains: Wheat, corn recover after slide; soy hits 2020 low

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