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Canola prices remain lower at midday Monday

By Marlo Glass, MarketsFarm WINNIPEG, Jan. 27 (MarketsFarm) – The ICE Futures canola market was weaker at midday Monday, as financial markets remained spooked by the outbreak of a coronavirus in China. One trader explained that markets have always been uncertain as to “when and how many” soybeans China would buy. The coronavirus outbreak has […] Read more

ICE canola down sharply to start week

By Phil Franz-Warkentin, MarketsFarm WINNIPEG, Jan. 27 (MarketsFarm) – The ICE Futures canola market was down sharply Monday morning, falling in sympathy with outside equity and commodity markets amid mounting concerns over the spreading coronavirus and a possible global economic slowdown. A rocket attack on the United States embassy in Bagdad added to the general […] Read more

Canadian Dollar and Business Outlook: Loonie down, Canadian crude under $30/barrel

By MarketsFarm WINNIPEG, Jan. 27 (MarketsFarm) – The Canadian dollar was lower Monday morning as crude oil prices plummeted due fears regarding the coronavirus outbreak. As of 8:40 CST, the Canadian dollar was at US$0.7580 or C$1.3191. That compares to Friday’s North American close of US$0.7610 or C$1.3140. The coronavirus has now killed 81 people […] Read more

Canada, EU, China, others agree on temporary fix to WTO crisis

Brussels/Davos | Reuters — Canada, the European Union, China and 14 other World Trade Organization members agreed on Friday to create a temporary mechanism to settle trade disputes after U.S. action rendered the WTO incapable last month of acting as the umpire of global trade. The Canadian government and the European Commission said separately that […] Read more

Canadian canola crush sets new monthly record

MarketsFarm — Canadian oilseed crushers set a new monthly record for processing canola in December 2019, crushing 899,301 tonnes of the crop during the month, according to the latest data from Statistics Canada. The crush pace was up by 70,000 tonnes from November and compares with the previous record of 882,301 tonnes, set just two […] Read more

High stocks-to-use ratio weighs on canola

MarketsFarm — The Canadian canola stocks-to-use ratio was over 20 per cent at the end of 2019 — significantly higher than the five-year average of 13.4 per cent. “That’s part of the reason why we’re seeing downward pressure on canola prices,” Craig Klemmer, chief agriculture economist for Farm Credit Canada (FCC), explained during his presentation […] Read more