Markets
By Glen Hallick Glacier FarmMedia – Canola futures on the Intercontinental Exchange were higher by mid-session Wednesday, in what a trader called “a bit of wind in the sails from soyoil.” The trader said the “updraft” in crude oil was lending support to the vegetable oils. Along with gains in Chicago soy, there were increases […] Read more
ICE Canola Midday: Getting spillover from soyoil, crude oil
Global Markets: Iran threatens Red Sea blockade
By Glen Hallick Glacier FarmMedia | MarketsFarm – The following is a glance at the news moving markets in Canada and globally. Middle East tensions increased on Wednesday, as Iran threatened to blockade the Red Sea should the United States continue its blockade of Iranian ports. It’s believed that Iran would rely on regional allies […] Read more
ICE canola makes small gains
Glacier FarmMedia – Canola futures on the Intercontinental Exchange were slightly higher on Wednesday morning, while crude oil prices were mixed. United States President Donald Trump told the New York Post today that negotiations between his country and Iran will resume over the next two days, adding that the war was “almost over”. However, a […] Read more
Canadian dollar and business outlook
Glacier FarmMedia — The Canadian dollar was holding steady relative to its United States counterpart Wednesday morning. At 8:41 a.m. CDT the Canadian dollar was trading at US$0.7265 or US$1=C$1.3765 which compares with Tuesday’s close of US$0.7269 or US$1=C$1.3757. Canadian factory sales were up by 3.6 per cent in February compared to the previous month, […] Read more
UN warns of food crisis from Iran war, but grain analyst says supplies are strong
Fertilizer prices are climbing and Middle East shipping is disrupted, but ample grain stocks and pre-positioned inputs may cushion the blow for Northern Hemisphere farmers
Reading Time: 3 minutes The UN says disruptions in the Strait of Hormuz threaten global food systems, but a leading grain analyst says supplies remain strong.
Canadian financial close: C$ strengthens Tuesday
Glacier FarmMedia — The Canadian dollar strengthened relative to its United States counterpart on Tuesday, as optimism over possible peace talks in the Middle East had investors showing an increased appetite for risk. The Canadian dollar settled at US$0.7269 or US$1=C$1.3757, which compares with Monday’s close of US$0.7240 or US$1=C$1.3812. Prime Minister Mark Carney’s Liberal […] Read more
U.S. Grain/Oilseed Review: Weaker soy, stronger wheat
Corn wedged in the middle
SOYBEAN futures at the Chicago Board of Trade pulled back on Tuesday, following losses in crude oil. United States President Donald Trump said talks with Iran could resume later this week. Yesterday, the U.S. imposed a naval blockade of Iranian ports on Monday, however four vessels passed by without incident. The U.S. Department of Agriculture […] Read more
ICE Closing Review: Oil pressure weighs on canola
By Glen Hallick Glacier FarmMedia – Intercontinental Exchange canola futures saw their gains fade away on Tuesday, as pressure from mounting declines in crude oil pulled the Canadian oilseed into the red. Losses in the Chicago soy complex, Malaysian palm oil and MATIF rapeseed also weighed on canola values. An analyst said canola might not […] Read more
ICE Canola Midday: Trying to stay above support levels
By Glen Hallick Glacier FarmMedia – Canola futures on the Intercontinental Exchange were slightly higher by mid-session Tuesday, in an attempt to remain above its support levels, an analyst said. The analyst said canola, unlike crude oil and Chicago soyoil, doesn’t have a lot of room to fall back before hitting support levels. He placed […] Read more
Klassen: Stronger fed market pulls feeder cattle complex upward
For the week ending April 11, Western Canadian feeder cattle prices were steady to $5 higher on average compared to seven days earlier. Steer calves under 700 pounds were quite variable with quotes coming steady to $15/cwt above week-ago levels. Heifers under 700 pounds were steady to $8 higher on average. The VJV market report from Ponoka included […] Read more