GFM Network News

Pulse weekly outlook: Turkey’s record-level lentil imports expected to decrease

Country's domestic acreage expected up in 2021

Reading Time: 2 minutes MarketsFarm — Canadian lentil exports to Turkey reached unprecedented numbers in 2020. According to Statistics Canada data, Turkey imported 534,160 tonnes worth $355 million during the calendar year, making it the second-largest buyer of Canadian lentils behind India. Last year’s total nearly equalled the amount of lentils Canada exported to Turkey over the previous three […] Read more

ICE Canola Midday: Canadian oilseed again showing independent strength

Volatility in global vegetable oil market

Reading Time: < 1 minute By Glen Hallick, MarketsFarm WINNIPEG, March 3 (MarketsFarm) – Intercontinental Exchange (ICE) Futures canola contracts were higher at midday Wednesday in another show of independent strength, according to a Calgary-based analyst. “The United States side is actually wobbling a bit, so canola is kind of going at it alone right now,” he said. The analyst […] Read more

Canadian Dollar and Business Outlook: Loonie dips as greenback gains

And despite higher crude prices

Reading Time: < 1 minute Compiled by Glen Hallick, MarketsFarm WINNIPEG, March 3 (MarketsFarm) – The Canadian dollar was lower Wednesday morning, as its United States counterpart was higher. As of 8:49 CST, the Canadian dollar was at US$0.7902 or C$1.2647, compared to Tuesday’s close of US$0.7920 or C$1.2626. On the U.S. Dollar Index, the greenback was up 0.205 at […] Read more

Global Markets: OPEC+ considers production increase

Reading Time: < 1 minute WINNIPEG, March 3 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally. – Crude oil prices are rallying again on reports that the OPEC+ alliance could continue their production cuts into April rather than boosting production. However, due to increased demand, OPEC+ could increase production to reap revenue […] Read more

ICE canola mixed early Wednesday

Reading Time: < 1 minute By Phil Franz-Warkentin, MarketsFarm WINNIPEG, March 3 (MarketsFarm) – The ICE Futures canola market was narrowly mixed Wednesday morning, seeing some consolidation after Tuesday’s rally. Strong demand for tight old crop supplies remained the key supportive influence in canola, as the market continues to work to ration that buying interest. A move to fresh contract […] Read more

Farm cash receipts up in 2020

Crop receipts and direct payments up, livestock slightly lower

Reading Time: < 1 minute MarketsFarm — New data from Statistics Canada on Tuesday showed Canadian farm cash receipts went up in 2020, despite the COVID-19 pandemic, on the strength of rising crop prices and exports. The total value of farm cash receipts in the country totalled $71.7 billion in 2020, an 8.1 per cent increase from the previous year. […] Read more

U.S. grains: Soy, corn up on unfavourable South American weather

USDA lowers ratings for Kansas, Texas wheat crops

Reading Time: 2 minutes Chicago | Reuters — U.S. grain and soybean futures rose on Tuesday in a turnaround from losses the previous session, as concerns increased about unfavorable weather in crop-growing regions of South America. Traders are watching the effects of heat and dryness in Argentina and rains in Brazil amid worries about potential yield losses. The countries […] Read more

U.S. livestock: Lean hogs down off recent gains

April live cattle end up off five-week low

Reading Time: < 1 minute Chicago | Reuters — Chicago Mercantile Exchange lean hog futures dropped 2.7 per cent on Tuesday as the market retreated from recent surges. Profit-taking has weighed on prices since most-active April hog futures reached a life-of-contract high on Thursday. Still, traders said robust Chinese demand for pork imports is underpinning the futures market. Traders are […] Read more

Canadian Financial Close: Loonie, Canada’s GDP climb

Reading Time: < 1 minute WINNIPEG, March 2 (MarketsFarm) – The Canadian dollar strengthened against the U.S. dollar on Tuesday after a Statistics Canada report showed that its gross domestic product (GDP) increased 0.5 per cent in January. In 2020, the economy contracted by 5.4 per cent. The loonie finished at US$0.7920 or US$1=C$1.2626, compared to Monday’s close of US$0.7898 […] Read more

North American Grain and Oilseed Review: Strong gains for canola

A turnaround Tuesday for U.S. markets

Reading Time: 2 minutes By Glen Hallick, MarketsFarm WINNIPEG, March 2 (MarketsFarm) – Intercontinental Exchange (ICE) Futures canola contracts finished higher on Tuesday, gleaning strength from gains in the Chicago soy complex. Additional support came from increases in European rapeseed, while declines in Malaysian palm oil weighed on values. Dwindling canola supplies remained supportive. The Prairie weather will soon […] Read more