GFM Network News

Prairie cash wheat: Bids post small gains across most of West

Reading Time: 2 minutes MarketsFarm — Bids were steady to higher this week in Western Canada for Canada Western Red Spring (CWRS), Canada Prairie Spring Red (CPRS) and Canada Western Amber Durum (CWAD) wheats. Gains in most U.S. wheat markets provided support as strength in the Canadian dollar kept a lid on further gains. Average CWRS (13.5 per cent […] Read more

Crop stocks forecasts mostly unchanged in AAFC supply/demand report

Corn carryout revised upward

Reading Time: < 1 minute MarketsFarm — Updated crop supply/demand tables from Agriculture and Agri-Food Canada, released Friday, included only minor changes from the previous month. Larger adjustments are expected after Statistics Canada releases its final production numbers for the year on Dec. 3. Canola and all-wheat ending stocks for the 2020-21 marketing year were both left unchanged at 2.25 […] Read more

Flax facing tightening supplies

Reading Time: 2 minutes MarketsFarm — Solid export demand has pushed Canadian flax prices up sharply over the past month, with the market working to ration demand amid expectations for tightening supplies. The flax market in general is “just gone crazy. We’re up 50 per cent since the start of harvest,” Scott Shiels of Grain Millers Canada at Yorkton, […] Read more

U.S. grains: Soybeans touch new four-year peak on supply concerns

Corn hits highest since July 2019, wheat ends mixed

Reading Time: 2 minutes Chicago | Reuters — U.S. soybean futures rose for a sixth consecutive session on Friday and hit a four-year high on dry conditions in key South American crop areas and concerns about dwindling U.S. supplies. Corn also gained on strong exports and worries about South American dryness, while wheat ended mixed. All three markets finished […] Read more

Canadian Financial Close: Loonie firm ahead of weekend

TSX tops 17,000

Reading Time: < 1 minute By MarketsFarm WINNIPEG, Nov. 20 (MarketsFarm) – The Canadian dollar was relatively steady on Friday, nudging up by less than a tenth of a cent. The dollar finished at US$0.7651 or US$=C$1.3071 compared to Thursday’s close of US$0.7644 or US$1=C$1.3083. Benchmark crude oil prices were higher on Friday, due to optimism towards coronavirus vaccine trials […] Read more

North American Grain/Oilseed Review: Canola hits fresh highs

Reading Time: 2 minutes By Phil Franz-Warkentin, MarketsFarm WINNIPEG, Nov. 20 (MarketsFarm) – The ICE Futures canola market was mostly stronger on Friday, hitting fresh highs in the nearby January contract for the fourth-straight session as speculators added to long positions and end-users bid up the market in order to secure supplies. Gains in Chicago Board of Trade soybeans […] Read more

Rising ICE canola running into resistance at midday

Reading Time: < 1 minute By Phil Franz-Warkentin, MarketsFarm WINNIPEG, Nov. 20 (MarketsFarm) – The ICE Futures canola market was stronger at midday Friday, but off its earlier highs as values ran into resistance and profit-taking came forward ahead of the weekend. Solid commercial demand remained a supportive feature, as end users bid up the front months in order to […] Read more

ICE canola futures: Prices higher Friday morning

Reading Time: < 1 minute By Marlo Glass, MarketsFarm WINNIPEG, Nov. 20 (MarketsFarm) – Intercontinental Exchange (ICE) Futures canola contracts were stronger on Friday morning, hitting fresh contract highs. Gains in comparable oilseed markets were supportive of canola values, with nearby Chicago soybean contracts also reaching contract highs in overnight trade. Nearby soyoil contracts were up by about a tenth […] Read more

Canadian Dollar and Business Outlook: Loonie moves higher against U.S. dollar

Reading Time: < 1 minute By MarketsFarm WINNIPEG, Nov. 20 (MarketsFarm) – The Canadian dollar was higher Friday morning as retail sales increased according to Statistics Canada. As of 8:45 CST, the Canadian dollar was at US$0.7669 or C$1.3041, compared to Thursday’s close of US$0.7644 or C$1.3083. The federal agency reported retail sales were up 1.1 per cent in September […] Read more