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Farm cash receipts up in 2020

Crop receipts and direct payments up, livestock slightly lower

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

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

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

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

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

ICE Canola Midday: Stronger U.S. markets pushing up canola

Higher loonie tempering gains

By Glen Hallick, MarketsFarm WINNIPEG, March 2 (MarketsFarm) – Intercontinental Exchange (ICE) Futures canola contracts were pushing higher at midday Tuesday, following a “snap-back in the United States markets,” according to a Winnipeg-based trader. In a turn-around Tuesday at the Chicago Board of Trade (CBOT), the soy complex was stronger with additional support for canola […] Read more

ICE canola up Tuesday morning

By Phil Franz-Warkentin, MarketsFarm WINNIPEG, March 2 (MarketsFarm) – The ICE Futures canola market was stronger Tuesday morning, underpinned by the ongoing need to ration tight old crop supplies. European rapeseed futures hit contract highs overnight, lending spillover support to the Canadian oilseed as well. However, Malaysian palm oil was softer and the Chicago Board […] Read more

Canadian Dollar and Business Outlook: Loonie above 79 U.S. cents

Canadian economy expands in January

Compiled by Glen Hallick, MarketsFarm WINNIPEG, March 2 (MarketsFarm) – The Canadian dollar was higher Tuesday morning, buoyed by good economic news from Statistics Canada and by rising crude oil prices. As of 8:47 CST, the Canadian dollar was at US$0.7907 or C$1.2650, compared to Monday’s close of US$0.7898 or C$1.2661. Statistics Canada issued a […] Read more