GFM Network News

U.S. livestock: Hog futures weaken, cattle futures advance

Cattle values rise as corn values drop

Chicago | Reuters — U.S. hog futures on Friday pulled back from a rally the previous session as large supplies and doubts about Chinese imports weighed on the market, analysts said. Chicago Mercantile Exchange (CME) August lean hog futures settled down 0.35 cent at 49.875 cents/lb. (all figures US$). The contract has rebounded slightly since […] Read more

U.S. grains: Corn, soybeans drop on favourable weather

Chicago wheat jumps

Chicago | Reuters — U.S. corn and soybean futures prices fell on Friday on expectations for beneficial rains in crop-growing areas and as President Donald Trump said the country’s relationship with trading partner China was severely damaged. A monthly U.S. Department of Agriculture (USDA) report pegged America’s harvests below analysts’ expectations, although the estimates were […] Read more

Canadian Financial Close: Loonie slides back ahead of weekend

Cdn. economy adds nearly 1 million jobs

By MarketsFarm WINNIPEG, July 10 (MarketsFarm) – The Canadian dollar fell on Friday despite a Statistics Canada report that said nearly one million jobs were added to the country’s economy in June. The loonie finished at US$0.7356 or US$1=C$1.3594, compared to Thursday when it closed at US$0.7377 or US$1=C$1.3555. The jobs report saw the TSX […] Read more

USDA’s July WASDE has little effect on markets

U.S. Midwest weather likely having greater effect

MarketsFarm — There were some notable changes in the carryovers for corn, soybeans and wheat in the July supply and demand report from the U.S. Department of Agriculture released Friday. However, the monthly world agriculture supply and demand estimates (WASDE) had very little effect on the markets, according to MarketsFarm analyst Mike Jubinville. “I think […] Read more

ICE canola mostly higher ahead of USDA report

By Phil Franz-Warkentin, MarketsFarm WINNIPEG, July 10 (MarketsFarm) – The ICE Futures canola market was mostly stronger at midday Friday, hitting fresh three-month highs in the November contract as bullish technical signals underpinned the market and speculators continued to cover short positions. The November contract closed above the 200-day moving average on Thursday, and remained […] Read more

Canadian dollar and business outlook

WINNIPEG, July 10 (MarketsFarm) – The Canadian dollar was lower on Friday, despite strong employment data from June.      At 8:45 CDT Friday morning the Canadian dollar was at US$0.7362 or US$1=C$1.3558, which compares with Thursday’s North American close of US$0.7377 or US$1=C$1.3555. According to a recent report from Statistic Canada, the Canadian economy added […] Read more

ICE Canada Morning Comment: Canola searching for direction

CGC says deliveries, exports, usage down

By Glen Hallick, MarketsFarm WINNIPEG, July 10 (MarketsFarm) – Intercontinental Exchange (ICE) futures canola contracts were either side of steady on Friday morning, searching for direction. The Chicago soy complex was gaining strength, while European rapeseed and Malaysian palm oil were down. The Canadian dollar was slightly lower at 73.63 U.S. cents, compared to Thursday’s […] Read more

U.S. livestock: Ham prices lead lean hog futures higher

Chicago live cattle book slight gain

Chicago | Reuters — U.S. lean hog futures rose on Thursday as firmer cash markets for hogs and some pork products supported thinking that the market may have bottomed out after declining for much of 2020, traders said. Chicago Mercantile Exchange (CME) August lean hog futures settled up 2.275 cents at 50.225 cents/lb., crawling back […] Read more