GFM Network News

Canadian Financial Close: Loonie holds firm amid virus fears

Virus confirmed in eight countries

By MarketsFarm WINNIPEG, Jan. 24 (MarketsFarm) – The Canadian dollar was virtually unchanged at market close on Friday, despite global fears of the Wuhan virus that have negatively affected commodity and stock markets. The loonie finished the day at US$0.7610 or US$1=C$1.3140, which compares with Thursday’s close of US$0.7609 or C$1.3143. The Wuhan virus, named […] Read more

North American Grain and Oilseed Review: Veg oils bring down canola prices

Wuhan virus fears drive down prices

By Glen Hallick, MarketsFarm WINNIPEG, Jan. 24 (MarketsFarm) – Intercontinental Exchange (ICE) Futures canola contracts finished weaker on Friday, as declines in other vegetable oils continued to weigh on values. A trader said there was profit-taking in Chicago soyoil. Also, reports stated the lack of Chinese demand for United States soybeans has also been an […] Read more

ICE canola midday: Soyoil profit-taking weighs on values

By Glen Hallick, MarketsFarm WINNIPEG, Jan. 24 (MarketsFarm) – ICE Futures canola contracts were weaker at midday Friday, continuing the downward trend with Chicago soyoil, according to a Winnipeg-based trader. “It’s due to the money flow as funds ramped up a big long position and took [soyoil] up to 35 cents per pound ,” he […] Read more

ICE canola down Friday morning

By Marlo Glass, MarketsFarm WINNIPEG, Jan. 24 (MarketsFarm) – The ICE Futures canola market was lower on Friday, continuing yesterday’s pricing trends. A weaker tone for soyoil on the Chicago Board of Trade kept pressure on canola values this morning. The large Brazilian soybean crop has weighed on the soy complex. The Canadian dollar was […] Read more

Canadian dollar and business outlook

By MarketsFarm WINNIPEG, Jan. 24 (MarketsFarm) – The Canadian dollar was holding relatively steady Friday morning, seeing some consolidation after weakening in recent days. At 8:46 CST Friday morning the Canadian dollar was at US$0.7614 or C$1.3134 which compares with Thursday’s North American close of US$0.7609 or C$1.3143. Canadian retail sales rose by 0.9 per […] Read more

AAFC forecasts more wheat, less canola seeded in spring

MarketsFarm — Canada’s farmers will seed more wheat and less canola in the 2020 growing season, according to the first supply/demand estimates for the 2020-21 marketing year, released Thursday by Agriculture and Agri-Food Canada. Total seeded wheat area is forecast to rise to 25.77 million acres, from 25.02 million the previous year. Production is forecast […] Read more