NYMEX March 2023 West Texas Intermediate crude oil (candlesticks) with 100-day moving average (black line) and ICE March 2023 Brent crude oil (blue open/high/low/close). (Barchart)

China driving crude oil price increases

Bulls on crude oil expect a 'very shallow' recession

MarketsFarm — China has largely been behind the current upticks in global crude oil prices, according to Tom Kloza, global head of energy analysis for Oil Price Information Services in Lakewood, NJ. He suggested that China’s economy will begin to pick up steam in 2023 after the government loosened its super-tight COVID-19 restrictions. “You can […] Read more


ICE March 2023 canola with 20-, 50- and 100-day moving averages. (Barchart)

ICE weekly outlook: Sideways canola market watching macros

USDA report may offer nearby direction

MarketsFarm — ICE Futures canola contracts remain stuck in a sideways trading range to start the New Year, with bearish outside forces countered by relatively supportive fundamentals. From a chart standpoint, March canola is stuck in a sideways range between $800 and $900, with little to suggest a break one way or the other for […] Read more

CBOT December 2022 soft red winter wheat (candlesticks) with 20-day moving average (green line), MGEX December 2022 hard red spring wheat (yellow line) and K.C. December 2022 hard red winter wheat (orange line). (Barchart)

U.S. grains: Wheat, corn, soybeans sag on recession fears

Projections raised for Russian wheat crop

Chicago | Reuters — U.S. wheat futures fell more than two per cent and corn and soybeans followed the weaker trend on Monday, as fears of a global economic downturn, a rising dollar and expectations of a bumper wheat crop in Russia weighed on commodity markets, analysts said. Forecasts for favourably dry weather for the […] Read more


A canola field near Pincher Creek, Alta. (Laughingmango/E+/Getty Images)

Ag industry a potential ‘bright spot,’ post-pandemic

Agriculture could lead economic rebuild, ATB official says

Alberta’s ag sector will be key in rebuilding the province’s economy once the pandemic is over, says the director of research for economics at ATB Financial. “Overall, I think one of the bright spots in a really dark economic situation in the province is our agriculture and agri-food sector,” Rob Roach said. “It’s still producing. […] Read more




Global markets: Clinton opposes TPP, Chinese stocks gain

CNS Canada — The following is a glance at the news moving markets globally. HILLARY CLINTON SAYS SHE DOES NOT SUPPORT PACIFIC TRADE DEAL — U.S. democratic presidential candidate Hillary Clinton said Wednesday she does not support the Trans-Pacific Partnership. The deal doesn’t do enough to protect consumers from high drug prices and currency manipulation, […] Read more