GFM Network News

North American Grain/Oilseed Review: Canola hits fresh highs

By Phil Franz-Warkentin, MarketsFarm WINNIPEG, Nov. 20 (MarketsFarm) – The ICE Futures canola market was mostly stronger on Friday, hitting fresh highs in the nearby January contract for the fourth-straight session as speculators added to long positions and end-users bid up the market in order to secure supplies. Gains in Chicago Board of Trade soybeans […] Read more

Rising ICE canola running into resistance at midday

By Phil Franz-Warkentin, MarketsFarm WINNIPEG, Nov. 20 (MarketsFarm) – The ICE Futures canola market was stronger at midday Friday, but off its earlier highs as values ran into resistance and profit-taking came forward ahead of the weekend. Solid commercial demand remained a supportive feature, as end users bid up the front months in order to […] Read more

ICE canola futures: Prices higher Friday morning

By Marlo Glass, MarketsFarm WINNIPEG, Nov. 20 (MarketsFarm) – Intercontinental Exchange (ICE) Futures canola contracts were stronger on Friday morning, hitting fresh contract highs. Gains in comparable oilseed markets were supportive of canola values, with nearby Chicago soybean contracts also reaching contract highs in overnight trade. Nearby soyoil contracts were up by about a tenth […] Read more

Feed weekly outlook: Export demand supports grain prices

MarketsFarm — There continues to be a very strong demand for feed grains with large amounts headed for export, according to Saskatoon-based trader Evan Peterson of JGL Commodities. “It’s driven the prices up and made a massive competition between feed for Alberta versus shipping it overseas,” Peterson said, noting China has been the main driver […] Read more

U.S. grains: Soybeans slip off peak, end mostly firm

Corn, wheat dip; strong demand, tight supply limit losses

Chicago | Reuters — U.S. soybean futures ended mostly firmer on Thursday as late-session buying amid worries over tightening supplies offset earlier profit-taking and technical selling that had dragged prices down from four-year peaks. Corn and wheat retreated after prior-day increases as investors pocketed some gains. Chicago Board of Trade (CBOT) January soybean futures ended […] Read more

U.S. livestock: Cattle, hog futures tumble on demand worries

Corn values also weigh on feeder cattle, hogs

Chicago | Reuters — U.S. cattle and hog futures tumbled on Thursday on worries about demand for beef and pork as soaring coronavirus infections across the country threatened more restaurant and food service closures and forced more Americans to shelter at home. Investors also fear a repeat of the livestock processing disruptions seen in the […] Read more

Canadian Financial Close: Loonie steps back a little

WCS down, COVID-19 cases rising

By MarketsFarm WINNIPEG, Nov. 19 (MarketsFarm) – The Canadian dollar was lower on Thursday, due to weaker domestic crude oil prices and market concerns over the growing number of COVID-19 cases in the country. Declines were limited by a relatively steady United States Dollar Index coupled with small gains in major world benchmark crude oils. […] Read more