GFM Network News

Federal Finance Minister Chrystia Freeland appears at a news conference in Ottawa on Sept. 24, 2020. (Photo: Reuters/Blair Gable)

Canada to wind down broad-based COVID aid programs

Feds opt for targeted measures as economy recovers

Ottawa | Reuters — Canada will not extend existing broad-based COVID-19 support programs for companies and individuals when they expire on Saturday because the economy is recovering well, Finance Minister Chrystia Freeland said on Thursday. Instead, Ottawa will introduce more targeted and less costly measures for hard-hit sectors such as the tourism industry. The new […] Read more

CME December 2021 lean hogs (candlesticks) with 20- and 100-day moving averages (pink and black lines) and CME Lean Hog Index (dark red dotted line, left column). (Barchart)

U.S. livestock: CME lean hogs fall on sluggish export sales

Weaker exports drag on cattle also

Chicago | Reuters — Chicago Mercantile Exchange lean hog futures fell for a third session on Thursday, pressured by weak export activity, traders said. CME December lean hog futures settled down 2.825 cents at 73.2 cents/lb., its biggest drop since Sept. 10 (all figures US$). CME February hogs ended down 2.55 cents at 76.675 cents/lb. […] Read more

CBOT November 2021 soybeans (candlesticks) with 20-, 50- and 100-day moving averages (yellow, dark green and black lines). (Barchart)

U.S. grains: Soy down on South American weather, technical pressure

Firm U.S. dollar weighs on wheat; rising crop input costs supportive for corn

Chicago | Reuters — Chicago soybean futures fell on Thursday after five straight sessions of gains, pressured by technical resistance and beneficial forecasts for rain in top export competitor Brazil. Wheat eased from a two-week high hit earlier on Thursday as weaker crude oil prices and a firmer U.S. dollar offset tightening global supplies. Corn […] Read more

Canadian Financial Close: Canadian dollar backs off highs

By MarketsFarm WINNIPEG, Oct. 21 (MarketsFarm) – The Canadian dollar was slightly weaker on Thursday, seeing a modest correction after hitting its strongest level relative to its United States counterpart in nearly four months. The Canadian dollar closed at US$0.8097 or US$1=C$1.2351 on Thursday, which compares with Wednesday’s North American close of US$0.8111 or US$1=C$1.2329. […] Read more

(Dave Bedard photo)

Feds tighten forecast for wheat carryout

MarketsFarm — Canadian wheat carryout for the 2021-22 crop year will be even tighter than earlier forecasts, according to updated supply/demand estimates from Agriculture and Agri-Food Canada (AAFC), released Wednesday. The October report included only minor adjustments for most crops, with the most notable change from September being a 500,000-tonne reduction in projected wheat ending […] Read more

North American Grain and Oilseed Review: The inevitable end to rally strikes

Yesterday’s gains give away to cross the board declines

By Glen Hallick, MarketsFarm WINNIPEG, Oct. 21 (MarketsFarm) – Intercontinental Exchange (ICE) canola futures dropped back on Thursday, most likely due to profit-taking according to a trader. Canola prices rallied for several days after they had been in a trading range for a number of weeks. The trader stressed the Canadian oilseed will need to […] Read more

ICE Canola Midday: Profit-taking most likely behind pull back

'A sudden turn in the undertones' says trader

By Glen Hallick, MarketsFarm WINNIPEG, Oct. 21 (MarketsFarm) – Intercontinental Exchange (ICE) canola futures were taking a step back at midday Thursday most likely due to some profit-taking, according to a trader. For several days canola was swinging higher along with gains in other edible oils. “We got a sudden turn in the undertones, but […] Read more

Global Markets: Report from controversial inquiry made public today

Inquiry examined use of foreign money in anti-oil campaigns

Compiled by Glen Hallick, MarketsFarm WINNIPEG, Oct. 21 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally. – Alberta Energy Minister Sonya Savage is scheduled on Thursday to release the final report of the province’s public inquiry into alleged foreign funding of anti-oil campaigns said to have targeted […] Read more