GFM Network News

Wittal: Speculators’ profit-taking weighs on grains

Dec. 17 — Outside markets gave back everything they gained yesterday and then some. An aggressive U.S. dollar started a domino effect as speculators with long positions scrambled to take profits out of the markets, which helped to further feed the downward spiral. Gold ended with double-digit losses today and energies were down as well. […] Read more

Wittal: Long-term investors eyeing U.S. grains

Dec. 14 — Outside markets showed some rebound today with news that Dubai World has been able to secure some short-term financing to pay down some of its staggering debt. Gold closed up $3.90 at $1,123.40 today. The U.S. dollar was down two-10ths of a cent today. The Canadian dollar finished down 0.94 cents, closing […] Read more

Wittal: USDA South American figures higher than expected

December 10, 2009 Market Update Outside markets rebounded a little today while grains were mixed after a lacklustre USDA crop production report. Financial markets finished up slightly with gold up $5.30 to close at $1125.80.  The U.S. dollar was basically unchanged today and the energy sector was mixed with crude down and natural gas up […] Read more

Wittal: Farmer selling pressures canola

Dec. 7 — Gold dropped today, which may be the beginning of a retracement after the recent multi-week surge to all-time highs. The U.S. dollar fell 15/100ths of a cent today. Financial markets were down with no real economic news to stimulate anything; energy markets were mixed with crude down and natural gas up today. […] Read more

Wittal: Colder weather may boost feed demand

Dec. 4 — Gold dropped hard and the U.S. dollar jumped up over 1.175 cents today. Financial markets were mixed while energy markets were down today. Grains came under pressure from the rising U.S. dollar and ended with losses across the board both for the day and for the week. Canola followed beans lower to […] Read more

Wittal: StatsCan sees more canola, wheat

Dec. 3 — Financial and energy markets were mixed today. Gold continues to climb slow and steady, and the U.S. dollar dropped slightly. Grains showed mixed results, as beans posted gains on the day primarily due to speculative interest, while corn and wheat ended with losses as there was very limited trade happening today, which […] Read more

Wittal: Market corrections expected for holidays

Dec. 1 –– Outside markets showed good strength, with gold reaching new all-time highs and the Dow Jones hitting its highest level so far for 2009. The U.S. dollar continued to drop, which helped spur buying of commodities. Grains followed the momentum, but that soon stalled out and sent things back down, with some grains […] Read more

Wittal: Even more canola expected in StatsCan data

Nov. 30 — Markets were mixed at the open, but as the day went on, buying interest seemed to improve and we saw some nice gains in most markets, especially grains. The trade seemed to put the Dubai news aside and ignored it as the day went on, which hopefully is a good sign that […] Read more

Wittal: Dubai default could cause grains meltdown

Nov. 27 — Alarming news out of Dubai that Dubai World could default on some of  its estimated US$59 billion debt sent financial markets tumbling, pulling all other markets down as well. As the day went on we did see a retracement in grains, as the U.S. dollar backed down off its highs for the […] Read more

Wittal: Wheat, corn futures drop

Nov. 24 — A typical turnaround Tuesday had financial and energy markets falling back slightly from yesterday’s positive close. U.S. grain markets were mixed, with beans being the only grain to show gains on the day as continued new sales helped support the futures. Corn and wheat took some hard hits today, with wheat seeing […] Read more