Markets & Production Tips

File photo of sunset over a wheatfield in Brazil. (Evandrorigon/E+/Getty Images)

Brazil pushing towards wheat self-sufficiency

By Glen Hallick - MarketsFarm July 3, 2024

The USDA attaché in the country’s capital of Brasilia said the expansion of wheat will include cultivating “tropical wheat” in the savanna-like region in central Brazil known as the Cerrado biome. These varieties of tropical wheat are reported to be better resistant to dry weather.

Futures

ICE Midday: Canola continues to move upwards

By GFM Network News July 3, 2024

Glacier FarmMedia MarketsFarm – The ICE Futures canola market consolidated Tuesday’s gains with help from vegetable oils. Chicago soyoil, European rapeseed and Malaysian palm oil were all showing gains in the middle of trading on Wednesday. However, crude oil prices were slightly lower despite an expected draw in United States stockpiles. The U.S. markets will be […] Read more

(Photo courtesy Canola Council of Canada)

Crops, Markets

Manitoba crop weather/conditions varied

By Phil Franz-Warkentin July 3, 2024

Mixed weather conditions across Manitoba over the Canada Day long weekend left some regions of the province dealing with excess moisture, with high winds and cool temperatures also affecting crop development, according to the latest provincial crop report.

Global markets

Global Markets: Hurricane Beryl approaches Jamaica

By GFM Network News July 3, 2024

Glacier FarmMedia MarketsFarm – The following is a glance at the news moving markets in Canada and globally. – Hurricane Beryl is expected to pass through Jamaica on Wednesday before heading towards the Cayman Islands on Thursday and Mexico’s Yucatan peninsula on Friday, according to the United States National Hurricane Center. A hurricane watch was also […] Read more

Currency Markets

Canadian dollar and business outlook

By GFM Network News July 3, 2024

By Phil Franz-Warkentin Glacier FarmMedia MarketsFarm – The Canadian dollar was stronger Wednesday morning, with strength in global equity markets pointing to an increased appetite for risk. At 8:43 a.m. CDT the Canadian dollar was trading at US$0.7322 or US$1=C$1.3657, which compares with Tuesday’s close of US$0.7301 or US$1=C$1.3697. Canadian international trade data showed […] Read more

Futures

ICE Canada Morning Comment: More increases for canola

Spillover coming from Chicago

By GFM Network News July 3, 2024

By Glen Hallick Glacier Farm Media MarketsFarm – Canola futures on the Intercontinental Exchange were experiencing modest upticks on Wednesday morning, compared to yesterday’s sharp gains. Support came from increases in the Chicago soy complex, but slight losses in European rapeseed and Malaysian palm oil limited the upside. Small gains in crude oil spilled over […] Read more

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

Markets, Reuters

U.S. grains: Corn, soy futures rise on technical trading, weather questions

By P.J. Huffstutter, Reuters July 2, 2024

Chicago corn futures extended gains on Tuesday on short-covering and U.S. crop condition questions, while soybean prices also turned higher on technical trading and unfavorable weather in some soybean growing areas of the central U.S., traders said.

Currency Markets

Canadian Financial Close: C$ steady

By GFM Network News July 2, 2024

By Phil Franz-Warkentin Glacier FarmMedia MarketsFarm – The Canadian dollar held near unchanged on Tuesday as activity resumed after the Canada Day long weekend. Broad weakness in the United States dollar internationally underpinned the currency. The Canadian dollar settled at US$0.7301 or US$1=C$1.3697 on Tuesday, which compares with Friday’s close of US$0.7306 or US$1=C$1.3687. […] Read more

Futures

North American Grain/Oilseed Review: Canola surges, wheat stumbles

By GFM Network News July 2, 2024

Glacier FarmMedia MarketsFarm — The ICE Futures canola market came out of the Canada Day weekend with a huge boost from vegetable oils. August soyoil in Chicago was up, while European rapeseed and Malaysian palm oil also rose sharply. Crude oil was slightly higher due to tensions in the Middle East and the start of […] Read more

Markets

U.S. pulse area tops early intentions

By Phil Franz-Warkentin July 2, 2024

Farmers in the United States planted considerably more pulse crops in 2024 than originally projected, according to updated acreage data from the U.S. Department of Agriculture released June 28.

GFM Network News

U.S. livestock: Feeder cattle rise to new highs on tight supply, strong cash prices

U.S. grains: Soybeans slip on profit-taking, China trade worries

Ample supplies and improved livestock sector to boost Canadian feed sector: FCC

Markets

Brazil pushing towards wheat self-sufficiency

ICE Midday: Canola continues to move upwards

Manitoba crop weather/conditions varied

Global Markets: Hurricane Beryl approaches Jamaica

Canadian dollar and business outlook

ICE Canada Morning Comment: More increases for canola

U.S. grains: Corn, soy futures rise on technical trading, weather questions

Canadian Financial Close: C$ steady

North American Grain/Oilseed Review: Canola surges, wheat stumbles

U.S. pulse area tops early intentions

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