Markets & Production Tips

Canadian Dollar and Business Outlook: Loonie gains a little bit of ground

Supported by small increases in crude oil

By GFM Network News June 18, 2024

By Glen Hallick Glacier Farm Media MarketsFarm – The Canadian dollar bumped up on Tuesday morning due to small gains in crude oil. As of 8:42 am CDT, the loonie was at US$0.7286 or US$1=C$1.3720 compared to Monday’s close of US$0.7276 or US$1=C$1.3743. On the U.S. Dollar Index, the greenback was steady at 104.945. Benchmark […] Read more

Markets, Reuters

U.S. livestock: CME hogs turn higher on news of China-EU trade fight

By P.J. Huffstutter, Reuters June 17, 2024

Lean hog futures rallied at the Chicago Mercantile Exchange on Monday, as news of a China-EU trade dispute gave contracts a psychological boost, even though it is unlikely to give U.S. producers a new edge, traders and market analysts said.

Equipment, Machinery, Markets

Geared-down expectations

By Dave Bedard June 17, 2024

What are other machinery manufacturers telling their shareholders to expect as they plow ahead into 2024? CNH (Case IH, New Holland) For its first quarter (Q1) ending March 31, CNH said sales volumes in North America were down two per cent for higher-horsepower (over 140 hp) tractors, and down 15 per cent for lower-horsepower tractors, […] Read more

Currency Markets

Canadian Financial Close: Loonie steady, crude oil rises

By GFM Network News June 17, 2024

The Canadian dollar made little headway on Monday. The loonie closed at US$0.7276 or US$1=C$1.3743, compared to US$0.7272 or US$1=C$1.3751 on Friday. The United States Dollar Index declined 0.19 of a point at 105.36. Crude oil prices jumped on Monday due to bullish economic data from China and speculation OPEC+ could delay adding more supply […] Read more

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

Markets, Reuters

U.S. grains: Grain futures slump, as wheat drops to 8-week low

By P.J. Huffstutter, Reuters June 17, 2024

Chicago Board of Trade wheat and soybean futures fell sharply on Monday, with wheat at a near two-month low as fund selling pressure rolled into a short holiday trading week, traders said.

Futures

North American Grain and Oilseed Review: Canola nearbys almost recover from losses

Likelihood of good U.S. crop ratings weigh heavily on prices

By GFM Network News June 17, 2024

By Glen Hallick, MarketsFarm Glacier Farm Media MarketsFarm – Intercontinental Exchange canola futures closed slightly lower on Monday in trading that saw the nearby contracts either side of steady. At one point the July contract broke through its support level of C$600 per tonne but reclaimed some its lost ground. An analyst noted July’s next […] Read more

Markets

Canola fund short position climbs higher

By Phil Franz-Warkentin June 17, 2024

As of June 11, 2024, the net managed money short position in canola futures came in at 99,252 contracts (1,950 long/101,202 short), which was up by roughly 30,000 contracts from the previous week.

Futures

ICE Canola Midday: Looking to bust through support level

Little upside for canola

By GFM Network News June 17, 2024

By Glen Hallick Glacier Farm Media MarketsFarm – Intercontinental Exchange canola futures remained lower at midsession Monday despite an attempt to recover. An analyst stated canola was testing its support level of C$600 per tonne in the nearby July contract and should it break through that, the next level is around C$585/tonne. “Whatever inertia we […] Read more

Global markets

Global Markets: Peace summit ends with disunity

Five countries refuse to sign final communique

By GFM Network News June 17, 2024

By Glen Hallick Glacier Farm Media MarketsFarm – The following is a glance at the news moving markets in Canada and globally. Following the ‘peace summit’ in Switzerland during the weekend, the 90-plus countries that participated failed to agree on the final communique. India, Indonesia, Mexico, Saudi Arabia and South Africa declined to […] Read more

Futures

ICE canola at three-month lows Monday morning

By GFM Network News June 17, 2024

By Phil Franz-Warkentin Glacier FarmMedia MarketsFarm – The ICE Futures canola market was weaker Monday morning, hitting fresh three-month lows as bearish technical signals and losses in outside markets weighed on values. Chicago soyoil and European rapeseed were both down, while the Malaysian palm oil market was closed for a holiday. The July canola […] Read more

GFM Network News

U.S. livestock: Feeder cattle hit contract highs on tight supply

U.S. grains: Soybeans tumble on doubts over U.S.-China trade progress

Alberta harvest wrapping up: report

Markets

Canadian Dollar and Business Outlook: Loonie gains a little bit of ground

U.S. livestock: CME hogs turn higher on news of China-EU trade fight

Geared-down expectations

Canadian Financial Close: Loonie steady, crude oil rises

U.S. grains: Grain futures slump, as wheat drops to 8-week low

North American Grain and Oilseed Review: Canola nearbys almost recover from losses

Canola fund short position climbs higher

ICE Canola Midday: Looking to bust through support level

Global Markets: Peace summit ends with disunity

ICE canola at three-month lows Monday morning

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