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Ontario calls off final intake for beef set-aside

'Threshold not met' for further cattle intake

Ontario has called off the last intake for its federal/provincial beef cattle set-aside program. The Beef Emergency Feed Maintenance Initiative, an AgriRecovery program launched after the temporary shutdown of Cargill’s beef slaughter plant at Guelph, was to have its “final potential intake week” opening Monday (Jan. 18), for cattle to be set aside starting Jan. […] Read more

Pulse weekly outlook: Green, yellow pea prices reach parity

Lower-priced green peas meet upwardly-mobile yellows

MarketsFarm — Yellow and green pea prices in Western Canada have taken divergent paths to start 2021, with yellow peas on the rise and greens declining as values reach parity in many locations. Mike Jubinville of MarketsFarm Pro explained that while Canada’s pea exports suffered under yellow pea import restrictions implemented by India, China later […] Read more

U.S. livestock: Cattle futures strengthen ahead of USDA report

CME lean hogs dip nearer cash index level

Chicago | Reuters — CME Group live cattle futures gained on Tuesday as traders began positioning ahead of Friday’s monthly Cattle on Feed report from the U.S. Department of Agriculture, traders said. Feeder cattle futures also rose, supported by weaker feed grain futures. Lean hog futures declined after gaining on Friday as futures look to […] Read more

U.S. grains: Soybeans fall on South American rainfall

Russian export tax supports U.S. wheat; corn follows soybeans

Chicago | Reuters — Chicago soybean futures slid on Tuesday as rain across South America strengthened crop prospects and bolstered the global supply outlook, traders said. Corn followed soybeans lower, but was supported by strong export demand and possible export limits in Ukraine. Wheat futures fell slightly, but were bolstered by an export tax in […] Read more

Canadian Financial Close: Loonie regains some ground

Greenback pulls back

By MarketsFarm WINNIPEG, Jan. 19 (MarketsFarm) – The Canadian dollar was higher on Tuesday, as the United States dollar eased back and despite a sharp loss in domestic crude oil prices. The dollar finished at US$0.7852 or US$1.2735, compared to Monday’s close of US$0.7836 or US$1=C$1.2762. On the U.S. Dollar Index the greenback slipped 0.279 […] Read more

North American Grain and Oilseed Review: Canola, soybeans take hard losses

Corn down slightly, wheat mixed

By Glen Hallick, MarketsFarm WINNIPEG, Jan. 19 (MarketsFarm) – Intercontinental Exchange (ICE) Futures canola contracts were significantly weaker on Tuesday, due to spillover from profit-taking on the Chicago soy complex. Following the Martin Luther King Jr. holiday, the Chicago Board of Trade reopened to see sharp declines in soybeans and soymeal. Soyoil finished slightly lower […] Read more

ICE Canola Midday: Profit-taking weighing on values

Spurred on by rains in South America

By Glen Hallick, MarketsFarm WINNIPEG, Jan. 19 (MarketsFarm) – Intercontinental Exchange (ICE) Futures canola contracts were mostly lower at midday Tuesday due to profit-taking, according to a Winnipeg-based trader. He explained the profit-taking was spurred on by the rains in South America over the weekend that were better than expected. In turn, that meant the […] Read more

Global Markets: Canada’s economy off to slow start

Expectations of 0.7 per cent growth in first quarter

By MarketsFarm WINNIPEG, Jan. 19 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally. – A Reuters poll of more than 40 economists expects Canada’s economy to remain mostly stagnant for the first quarter of 2021 before returning to “pre-COVID” levels sometime later in the 2021 fiscal year. […] Read more

ICE canola weakens with soy complex

By Phil Franz-Warkentin, MarketsFarm WINNIPEG, Jan. 19 (MarketsFarm) – The ICE Futures canola market was posting small losses Tuesday morning, taking some direction from the Chicago Board of Trade soy complex. A firmer tone in the Canadian dollar and chart-based profit-taking contributed to the declines. Soybeans and soyoil were both lower to start the day, […] Read more