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Prairie cash wheat: Rising loonie cuts into bids

Reading Time: 2 minutes MarketsFarm — Hard red spring wheat bids in Western Canada lost ground during the week ended Thursday, as the bearish influence of a strengthening Canadian dollar more than offset supportive influence from gains in U.S. futures. Average Canada Western Red Spring (CWRS, 13.5 per cent protein) wheat prices were down $5.50-$10 per tonne, according to […] Read more

U.S. grains: Wheat firm on Russia export quota plan

Chicago corn ends lower

Reading Time: 2 minutes Chicago | Reuters — U.S. wheat futures rose on Friday on optimism about export prospects as a Russian plan to cap grain exports for the rest of the season shifted attention back to potential supply tensions during the coronavirus pandemic. However, futures pared gains on profit-taking ahead of the weekend and worries that the rally […] Read more

U.S. livestock: Hog, cattle futures dive as volatile trade continues

Reading Time: 2 minutes Chicago | Reuters — U.S. lean hog futures tumbled on Friday, with several contracts falling the expanded daily limit of 4.5 U.S. cents/lb. on worries about a slowdown in demand for pork and fears that the coronavirus could shutter slaughterhouses, potentially backing up hog supplies, traders said. Chicago Mercantile Exchange June lean hog futures settled […] Read more

Funds reduce net short position in canola

Reading Time: < 1 minute MarketsFarm — Fund traders were covering short positions in canola during the week ended Tuesday, according to the latest commitment of traders (CoT) report from the U.S. Commodity Futures Trading Commission (CFTC). The net managed money short position in ICE Futures canola came in Tuesday at 48,614 contracts (886 long/49,500 short), a decrease of about […] Read more

Canadian Financial Close: Loonie finishes the week strong

Reading Time: < 1 minute By MarketsFarm WINNIPEG, March 27 (MarketsFarm) – The Canadian dollar was slightly stronger following an unscheduled interest rate cut from the Bank of Canada. The dollar finished the day at US$0.7114 or US$1=C$1.4056, compared to Thursday when it closed at US$0.7104 or US$1=C$1.4077. The Bank of Canada cut its key interest rate by 50 basis […] Read more

North American Grain and Oilseed Review: Canola finishes week on steady note

Positioning ahead of USDA reports

Reading Time: 3 minutes By Glen Hallick, MarketsFarm WINNIPEG, March 27 (MarketsFarm) – Intercontinental Exchange (ICE) Futures canola contracts were steady to higher on Friday, due to gains in Chicago soyoil and European rapeseed. Malaysian palm oil remained lower. Although farmer deliveries of canola were down for the week ended March 22, they remained strong. The Canadian Grain Commission […] Read more

Burnett on Markets: Suddenly agriculture is important

COVID-19 is putting food security in the spotlight

Reading Time: 2 minutes MarketsFarm — A trend has developed in the business news channels over the past week that has not been hard to miss. Suddenly the CEOs of big agriculture and food concerns are being featured front and centre during the business segments. Usually these companies are noted only when they release quarterly results and even then […] Read more

ICE Canola Midday: Prices steady to higher

Farmer deliveries steady, exports up

Reading Time: < 1 minute By Glen Hallick, MarketsFarm WINNIPEG, March 27 (MarketsFarm) – ICE Futures canola contracts were steady to higher on Friday, getting support from Chicago soyoil, said a Winnipeg-based trader. There was also support from European rapeseed, but Malaysian palm oil was slightly lower. The trader noted that farmer deliveries remained strong, although slightly down from the […] Read more

Global Markets: U.S. now leads world in COVID-19 cases

U.K. PM announces he has COVID-19

Reading Time: 2 minutes By MarketsFarm WINNIPEG, March 27 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally. – The United States surpassed Italy and China on Thursday as the country with the most reported cases of COVID-19. As of Friday morning, the U.S. had approximately 86,000 cases and more than 1,300 […] Read more

ICE canola futures: canola in the green on Friday

Reading Time: < 1 minute By Marlo Glass, MarketsFarm WINNIPEG, March 27 (MarketsFarm) – Intercontinental Exchange (ICE) futures canola contracts were slightly stronger on Friday morning, taking direction from Malaysian palm oil, European rapeseed, and soybeans on the Chicago Board of Trade. Due to the COVID-19 pandemic, Argentina has slowed vessel transit, including soybean shipments. That has provided support to […] Read more