Markets
Chicago wheat futures Wv1 fell for an eighth day on Friday for their lowest close in a month after Turkey said it would halt wheat imports in a blow to the global demand outlook.
Markets
U.S. grains: Wheat marks biggest weekly loss in nearly a year as Turkey bans imports
Canadian Financial Close: Loonie closes below 73 U.S. cents
Huge uptick in U.S. dollar
By Glen Hallick Glacier Farm Media MarketsFarm – The Canadian dollar dropped on Friday in the face of a surge in the United States dollar. The loonie closed at US$0.7278 or US$1=C$1.3740, compared to Thursday’s finish of US$0.7307 or US$1=C$1.3686. On the U.S. Dollar Index, the greenback spiked 0.838 of a point at 104.545. Benchmark […] Read more
North American grain/oilseed review: Canola ends weak on low note
By Phil Franz-Warkentin Glacier FarmMedia MarketsFarm – The ICE Futures canola market was weaker on Friday, taking back much of Thursday’s gains with chart-based speculative selling ahead of the weekend a feature. Losses in the Chicago soy complex accounted for some spillover weakness in the Canadian oilseed. European rapeseed futures were also lower, although […] Read more
USDA, attaché agree on record wheat crop in India
India is well on its way to a massive wheat harvest in 2024/25, according to the United States Department of Agriculture attaché in New Delhi. The attaché was in lockstep with the USDA in predicting a record 114 million tonnes.
Prairie Wheat Weekly: Weaker U.S. wheat pulls down Prairie prices
Cash wheat prices across the Canadian Prairies were hit hard during the week ended June 6, due to sharp declines in the United States wheat complex. That resulted in double-digit losses for Canada Prairie Red Spring Wheat, Canadian Western Red Spring Wheat and Canadian Western Amber Durum.
ICE canola weaker at midday Friday
By Phil Franz-Warkentin Glacier FarmMedia MarketsFarm – The ICE Futures canola market was sharply lower at midday Friday, taking back much of Thursday’s gains with chart-based speculative selling ahead of the weekend a feature. Losses in the Chicago soy complex accounted for some spillover weakness in the Canadian oilseed. European rapeseed futures were also lower, […] Read more
Global Markets: Unemployment rates inch up in Canada, U.S.
Canada adds 27,000 jobs, U.S. up 272,000
By Glen Hallick Glacier Farm Media MarketsFarm – The following is a glance at the news moving markets in Canada and globally. Statistics Canada reported on Friday that unemployment in May nudged up 0.01 of a point to 6.2 per cent despite the economy adding 27,000 jobs. StatCan noted part-time positions increase 62,000 […] Read more
Russia declares federal state of emergency in 10 agricultural regions
Russia said on Friday it was declaring a federal emergency in 10 regions because of damage to crops resulting from frosts in May.
ICE canola returns to the red
Glacier FarmMedia MarketsFarm – The ICE Futures canola market fell back into negative trading on Friday despite mixed sentiment in comparable oils. While Malaysian palm oil was higher this morning, Chicago soyoil and European rapeseed were lower. Crude oil was steady to higher as some OPEC+ members stated that upcoming supply hikes will be contingent […] Read more
Canadian Dollar and Business Outlook: Loonie steps back in face of stronger greenback
Oil seeks direction, gold tumbles
By Glen Hallick Glacier Farm Media MarketsFarm – The Canadian dollar fell below 73 U.S. cents on Friday morning due to a large increase in its United States counterpart. As of 8:37 am CDT, the loonie was at US$0.7284 or US$1=C$1.3730 compared to Thursday’s close of US$0.7307 or US$1=C$1.3686. On the U.S. Dollar Index, the […] Read more
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