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U.S. grains: Wheat, soy futures fall on bearish supply view

Chicago corn steadies

Chicago | Reuters — Chicago Board of Trade wheat futures sank 1.9 per cent on Thursday to their lowest in nearly a month, their third decline in four sessions, with expectations for rising global supplies pushing prices lower, traders said. Corn futures steadied after hitting fresh contract lows on Tuesday, with the outlook for massive […] Read more

Canadian Financial Close: C$ weakens off nearby highs

By MarketsFarm WINNIPEG, Aug. 6 (MarketsFarm) – The Canadian dollar was slightly weaker on Thursday, backing away from the five-month highs hit the previous session. Positioning ahead of the latest jobs data from the United States, due out on Friday, accounted for some of the activity. The Canadian dollar closed at US$0.7523 or US$1=C$1.3292, which […] Read more

North American Grain and Oilseed Review: Canola gains back some of Wednesday’s losses

Beans, corn steady ahead of S&D report

By Glen Hallick, MarketsFarm WINNIPEG, Aug. 6 (MarketsFarm) – Intercontinental Exchange (ICE) Futures canola contracts were steady to higher on Thursday, as technical and commercial buying provided support. There were small gains in Chicago soyoil and European rapeseed to help underpin canola as lower Malaysian palm oil weighed on values. The Saskatchewan weekly crop report […] Read more

ICE Canola Midday: Buying nudges up prices

Support also from soyoil, rapeseed

By Glen Hallick, MarketsFarm WINNIPEG, Aug. 6 (MarketsFarm) – ICE Futures canola contracts were steady to higher at midday Thursday, due to “a mixture of technical and commercial buying,” according to a Winnipeg-based trader. He said there had been support from other vegetable oils in the overnight trading. However, Malaysian palm oil retreated to finish […] Read more

Global Markets: Cost of food rises globally in July

Index increases from 93.1 to 94.2

By MarketsFarm WINNIPEG, Aug. 6 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally. – The world food price index increased in July, according to a report from the United Nations Food and Agriculture Organization on Thursday. The FAO said a basket of cereals, oilseeds, dairy products, meat […] Read more

ICE canola correcting higher early Thursday

By Phil Franz-Warkentin, MarketsFarm WINNIPEG, Aug. 6 (MarketsFarm) – The ICE Futures canola market was stronger Thursday morning, taking back Wednesday’s losses. Gains in Chicago Board of Trade soyoil accounted for some of the spillover buying interest, with Malaysian palm oil and European rapeseed futures also firm overnight. However, chart resistance held to the upside, […] Read more

Canadian Dollar and Business Outlook: Loonie retreats a little

Crude oil, TSX begin higher

By MarketsFarm WINNIPEG, Aug. 6 (MarketsFarm) – The Canadian dollar eased back on Thursday morning, despite increases in crude oil and the TSX. As of 8:37 CDT, the Canadian dollar was at US$0.7527 or C$1.3284, compared to Wednesday’s close of US$0.7540 or C$1.3262. Benchmark crude oil prices were slightly higher on Thursday morning, following news […] Read more

Corteva posts weak revenue, disappointing outlook

Reuters — Corteva Inc. on Wednesday missed analysts’ expectations for second-quarter revenue and its reinstated full-year forecast came in below estimates, sending the seed and pesticide producer’s shares down as much as nine per cent in extended trade. Good weather and higher planted area shifted corn volumes in North America to the first quarter, while […] Read more

Crop tour suggests record-large wheat harvest ahead

Winnipeg | Reuters — Canadian farmers are on track to harvest a record-large all-wheat crop, and more canola than last year, due mainly to favourable crop conditions, advisory service FarmLink Marketing Solutions estimated Wednesday. The Winnipeg-based company’s staff toured western Canadian fields during the last two weeks of July. “We expected a big crop and […] Read more