GFM Network News

ICE weekly outlook: Don’t expect China to buy if Huawei exec goes free

Reading Time: 2 minutes MarketsFarm — ICE Futures canola traders have been keeping a close eye on this week’s extradition hearings for Huawei executive Meng Wanzhou in Vancouver. The hearing is to determine whether Meng will be extradited to the U.S., which requested her arrest by Canadian authorities in December 2018. China, in the wake of that arrest, detained […] Read more

Rising protein demand expected in 2020

Canada able to serve both plant- and animal-based protein markets

Reading Time: 2 minutes MarketsFarm — Demand for plant- and animal-based proteins alike is likely to increase in the coming year. Since 2017, pea protein demand increased by about 13 per cent, Craig Klemmer, chief agriculture economist at Farm Credit Canada, said at Ag Days in Brandon, Man. Over the same time period, demand for canola protein increased by […] Read more

U.S. livestock: Cattle stumble to two-month low ahead of USDA report

Lean hogs follow cutout values higher

Reading Time: 2 minutes Chicago | Reuters — U.S. live and feeder cattle futures dropped to their lowest prices in about two months on Thursday as traders adjusted positions before a government report that is expected to show an increase in supplies. Hog futures, meanwhile, advanced to their highest prices in about two weeks. The U.S. Department of Agriculture […] Read more

Canadian Financial Close: Loonie slipping towards 76 U.S. cents

Reading Time: < 1 minute By MarketsFarm WINNIPEG, Jan. 22 (MarketsFarm) – The Canadian dollar continued lower at market close on Thursday, as crude oil prices declined. The loonie finished the day at US$0.7609 or US$1=C$1.3143, which compares with Wednesday’s close of US$0.7624 or C$1.3116. Benchmark crude oil prices were down on Thursday after the World Health Organization said it […] Read more

U.S. grains: Corn futures hit three-month high on export demand

Profit-taking sparks pullback in CBOT wheat

Reading Time: 2 minutes Chicago | Reuters — U.S. corn futures topped a three-month high on Thursday on improved export demand, while wheat futures traded near a 1-1/2 year high reached a session earlier. Soybeans eased to a one-month low as traders awaited signs of Chinese purchases of U.S. crops in the wake of last week’s initial trade agreement […] Read more

North American Grain and Oilseed Review: Sharp soyoil losses pulls down canola

Reading Time: 3 minutes By Glen Hallick, MarketsFarm WINNIPEG, Jan. 23 (MarketsFarm) – Intercontinental Exchange (ICE) Futures canola contracts finished weaker on Thursday, getting caught in declines in Chicago soyoil. However, a trader pointed out that isn’t necessarily a bad thing. Canola often lags behind changes to soyoil and in this case that’s good. The trader also noted soyoil […] Read more

ICE canola midday: Soyoil continues to weigh on values

Reading Time: < 1 minute By Glen Hallick, MarketsFarm WINNIPEG, Jan. 23 (MarketsFarm) – ICE Futures canola contracts were lower at midday Thursday, following declines in Chicago soyoil. A Winnipeg-based trader noted that soyoil has shifted 40 to 50 points either way over the last several days, which he said was “pretty bizarre.” The expectation had been that soyoil had […] Read more

ICE canola slightly lower Thursday morning

Reading Time: < 1 minute By Marlo Glass, MarketsFarm WINNIPEG, Jan. 23 (MarketsFarm) – The ICE Futures canola market was lower on Thursday, taking back most of the gains made yesterday. A weaker tone for soyoil on the Chicago Board of Trade kept pressure on canola values this morning. Promises of China increasing soybean purchases have yet to materialize. The […] Read more

Canadian dollar and business outlook

Reading Time: < 1 minute By MarketsFarm WINNIPEG, Jan. 23 (MarketsFarm) The Canadian dollar was weaker Thursday morning, dipping below psychological support as the currency saw a continuation of Wednesday’s declines. At 8:53 CST Wednesday morning the Canadian dollar was at US$0.7597 or C$1.3163 which compares with Wednesday’s North American close of US$0.7624 or C$1.3116. The Bank of Canada’s decision […] Read more