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ICE weekly outlook: Canola trade’s eyes on StatsCan report

MarketsFarm — Although Agriculture and Agri-Food Canada (AAFC) released its production forecast Wednesday, markets are focused on next week’s production report from Statistics Canada — a survey-based report which should provide a clearer picture of what’s to come. AAFC’s August report kept the canola production estimate at July’s 18.575 million tonnes. “Maybe we’ll see if […] Read more

U.S. grains: Soybeans up on yield uncertainty

Chicago | Reuters — U.S. soybean futures closed higher on Wednesday on technical buying and uncertainty about U.S. yield prospects, analysts said. Corn and wheat futures also firmed, steadying after the benchmark contracts for both grains dipped to three-month lows. Chicago Board of Trade November soybean futures settled up 4-3/4 cents at $8.73 per bushel […] Read more

Canadian Financial Close: Canadian dollar remains strong

By MarketsFarm WINNIPEG, Aug. 20 (MarketsFarm) – The Canadian dollar was stronger on Wednesday. The dollar finished the day at US$0.7531 or US$1=C$1.3278, which compares with Friday’s close of US$0.7506 or US$1=C$1.3323. Global equities finished mostly higher, after minutes from the United States Federal Reserve meeting in July showed the central bank’s reticence to cut […] Read more

Canada boosts 2019-20 wheat production estimate

MarketsFarm — Canadian wheat production in 2019-20 is forecast to come in at 500,000 tonnes above an earlier forecast, according to updated supply/demand tables released Wednesday from Agriculture and Agri-Food Canada. Wheat ending stocks were also raised in the report, while adjustments to the canola tables led a slight reduction to the still record-large carryout […] Read more

ICE canola midday: Bids on the rise ahead of harvest

By Glen Hallick, MarketsFarm WINNIPEG, August 21 (MarketsFarm) – ICE Futures canola contracts were stronger at midday Wednesday, which was a surprise to one Winnipeg-based trader. “The markets are at the stage of not knowing where to go. We’re on the verge of harvest and we really don’t know what the crop looks like,” he […] Read more

Global Markets: Canadian inflation steady at 2.0%

By MarketsFarm WINNIPEG, Aug. 21 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally. – Canada’s annual rate of inflation held steady at 2.0 per cent in July, according to updated data from Statistics Canada. Pre-report market expectations had been for a slight dip in the Consumer Price […] Read more