GFM Network News

North American Grain and Oilseed Review: Most active canola months steady to lower

CBOT soybeans, corn drop back, wheat rises

By Glen Hallick, MarketsFarm WINNIPEG, Jan. 15 (MarketsFarm) – Intercontinental Exchange (ICE) Futures canola contracts were mixed on Friday, with declines in the most active months and increases in the more deferred months. There were sharp losses in Chicago soyoil, along with lower values for Malaysian palm oil and European rapeseed. A trader said that […] Read more

ICE Canola Midday: Weaker soy complex pulling down prices

But canola still more expensive

By Glen Hallick, MarketsFarm WINNIPEG, Jan. 15 (MarketsFarm) – Intercontinental Exchange (ICE) Futures canola contracts were steady to lower at midday Friday, as the Chicago soy complex was down. In particular, soyoil fell by more than a penny per pound. Additionally, there were declines in Malaysian palm oil and European rapeseed. A Winnipeg-based trader stated […] Read more

ICE canola backs off nearby highs ahead of weekend

By Phil Franz-Warkentin, MarketsFarm WINNIPEG, Jan. 15 (MarketsFarm) – The ICE Futures canola market was steady to lower Friday morning in choppy trade, seeing some consolidation just below its nearby highs as investors squared positions ahead of the weekend. Losses in Chicago Board of Trade soybeans and soyoil accounted for some spillover selling pressure. Overbought […] Read more

Canadian Dollar and Business Outlook: Loonie falls back from 79 U.S. cents

Biden's $1.9 trillion plan boosts greenback

By MarketsFarm WINNIPEG, Jan. 15 (MarketsFarm) – The Canadian dollar was down sharply on Friday morning as its United States counterpart gained strength. As of 8:40 CST, the Canadian dollar was at US$0.7861 or C$1.2723, compared to Thursday’s close of US$0.7903 or C$1.2654. On the U.S. Dollar Index, the greenback was up 0.345 at 90.560 […] Read more

Trudeau names new transport, foreign affairs ministers

Garneau to handle foreign policy; Omar Alghabra takes transport

Ottawa | Reuters — Prime Minister Justin Trudeau named new ministers for foreign affairs and transport on Tuesday ahead of an election that insiders in his Liberal Party say is likely this year. Trudeau’s hand was forced when Innovations Minister Navdeep Bains, 43, unexpectedly announced he was resigning from politics for family reasons. Bains, who […] Read more

Canada consulting at home toward Indonesia trade deal

Possibility of broader Southeast Asian pact also looms

Continuing to seek out free trade deals in the Asia-Pacific region, Canada has launched public consultations on the merits of a potential bilateral pact with Indonesia. “Deepening trade ties with Indonesia would benefit Canadian businesses of all sizes and lead to economic growth and prosperity for years to come,” International Trade Minister Mary Ng said […] Read more

Feed weekly outlook: Barley market’s eye on exports, corn prices

MarketsFarm — Strong export demand for Canadian barley and rising corn prices in the U.S. are expected to continue to keep feed prices well supported in Western Canada. “Feed grains are being squeezed by lower imports of U.S. corn into Western Canada,” analyst Chuck Penner of Leftfield Commodity Research said in a presentation Tuesday for […] Read more

U.S. grains: Soybeans, corn, wheat rally

Futures up, but below recent peaks

Chicago | Reuters — U.S. soybean futures rose 1.7 per cent on Thursday, underpinned by the strong demand highlighted in the U.S. Agriculture Department’s monthly supply and demand report on Tuesday, traders said. Corn futures also rallied, with the market receiving a boost after the U.S. Environmental Protection Agency said it would not rule on […] Read more

U.S. livestock: Cattle, hog futures fall as corn rises

U.S. beef, pork export sales both up on week

Chicago | Reuters — CME feeder cattle futures fell on Thursday, retreating back toward a three-month low on prospects for increased input costs for livestock operators due to surging corn prices. “It is the rising feed costs,” said Alan Brugler, president of Brugler Marketing + Management. “With the corn being up another 10 cents today, […] Read more