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A vineyard at Naramata in B.C.’s Okanagan Valley. (File photo by Dave Bedard)

B.C. again waives ag income threshold for farm properties

Some farms otherwise risked property tax reclassification

Reading Time: 2 minutes British Columbia farmers who’ve taken pandemic-induced losses in farm income will be able to keep their farm properties classified as such for another tax year. The province on Monday announced that for the second year running, it will waive the minimum farm income thresholds normally required for B.C. properties to be classified as farms for […] Read more

(LIVINUS/iStock/Getty Images)

Businesses, U.S. legislators fume as Canada extends travel ban

Trudeau stands firm on ban's extension

Reading Time: 2 minutes Ottawa | Reuters — Canada is extending a ban on nonessential travel with the United States and the rest of the world until July 21, officials said on Friday, prompting frustration from businesses and U.S. legislators. Canada is under pressure from companies and the tourism industry to ease the ban, which was imposed in March […] Read more

CME August 2021 live cattle (candlesticks) with 20-day moving average (dark red line), CME July 2021 lean hogs (pink open/high/low/close) and CME lean hog index (black line). (Barchart)

U.S. livestock: Live cattle up on bargain-buying

CME lean hogs mostly lower; feeder cattle down on corn's bounce

Reading Time: 2 minutes Chicago | Reuters — U.S. live cattle futures firmed on bargain-buying on Friday after a steep plunge a day earlier, with expectations of steady to higher cash cattle prices next week adding support, traders said. “The market is chopping around but it looks like it needs to go back to the upside to price in […] Read more

CBOT July 2021 corn (candlesticks) with CBOT July 2021 wheat (orange line) and July 2021 soybeans (dark green line, left column). (Barchart)

U.S. grains: Corn, soy, wheat up after sell-off

Some traders feel Thursday's sell-off overdone

Reading Time: 2 minutes Chicago | Reuters — U.S. corn, soybean and wheat futures rose sharply on Friday, rebounding from steep declines a day earlier on bargain-buying ahead of the weekend and uncertainty about weather in the Midwest crop belt, analysts said. Fresh export interest lent support as this week’s break in futures appeared to stimulate demand. Chinese state-owned […] Read more

Canadian Financial Close: Loonie, TSX drop to end week

Reading Time: < 1 minute WINNIPEG – The Canadian dollar fell to its lowest level in eight weeks on Friday against a strengthening United States dollar. The loonie was at US$0.8052 or US$1=C$1.2419 on Friday, down from Thursday’s close at US$0.8103 or US$1=C$1.2341. Meanwhile, the U.S. Dollar Index jumped 0.39 points at 92.28. On Wednesday, United States Federal Reserve Chair […] Read more

North American Grain/Oilseed Review: Canola mostly higher, correcting from recent losses

Reading Time: 2 minutes By Phil Franz-Warkentin, MarketsFarm WINNIPEG, June 18 (MarketsFarm) – The ICE Futures canola market was mostly higher on Friday, with only the lightly traded July contract still posting losses as the old/new crop spread narrowed in. Chart-based buying on ideas yesterday’s selloff was overdone contributed to the gains, as the November contract bounced off its […] Read more

ICE Midday: Canola back in the green after yesterday’s losses

Reading Time: < 1 minute WINNIPEG– The ICE Futures canola market is rebounding at midday Friday after suffering limit down losses on Thursday, forcing ICE canola contract limits to be expanded from C$30 per tonne to C$45. While the July canola contract has held mostly steady, new crop contracts are rising by nearly C$30/tonne. A Winnipeg-based trader said a combination […] Read more

Canadian dollar and business outlook

Reading Time: < 1 minute By MarketsFarm WINNIPEG, June 18 (MarketsFarm) – The Canadian dollar was weaker Friday morning, as ongoing strength for the United States dollar internationally continued to influence the world currency markets after the U.S. Federal Reserve took a more hawkish stance on future interest rate moves earlier this week. At 8:48 a.m. CDT Friday morning, the […] Read more

Global Markets: U.S. oil output to be limited: OPEC+

Reading Time: < 1 minute WINNIPEG, June 18 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally. – Reports state that oil industry experts have told OPEC+ members that oil output from the United States will remain limited this year despite rising prices, according to sources within the organization. This is in anticipation […] Read more

ICE Canada Morning Comment: Canola bouncing back, pushing higher

Strong gains on CBOT soy complex

Reading Time: < 1 minute By Glen Hallick, MarketsFarm WINNIPEG, June 18 (MarketsFarm) – Intercontinental Exchange (ICE) canola futures were mostly higher on Friday morning, making the first significant gains this week. Only the old crop July contract saw declines. The change of direction came after the most actively traded months closed at the daily limit of C$30 per tonne […] Read more