WINNIPEG – The ICE Futures canola market was weaker Thursday morning, testing nearby support as speculators continued to liquidate long positions and book profits. The November contract dipped below the 20-day moving average, which was bearish from a chart-standpoint. A firm tone in the Canadian dollar, which moved above 80 United States cents, also weighed […] Read more
Market Wire
ICE canola continues lower, testing support
Global Markets: U.S. economy grows in second quarter
WINNIPEG – The following is a glance at the news moving markets in Canada and globally. – The United States economy showed growth in the fiscal second quarter as the country’s gross domestic product (GDP) increased at an annualized rate of 6.5 per cent, according to an advanced estimate released Thursday from the U.S. Commerce […] Read more
Canadian Financial Close: C$ strengthens
By MarketsFarm WINNIPEG, July 28 (MarketsFarm) – The Canadian dollar was slightly stronger on Wednesday, finding some support from the latest interest rate announcement from the United States Federal Reserve. The Canadian dollar closed at US$0.7958 or US$1=C$1.2566 on Wednesday, which compares with Tuesday’s North American close of US$0.7950 or US$1=C$1.2578. The Fed left its […] Read more
North American Grain/Oilseed Review: Canola continues lower
By Phil Franz-Warkentin, MarketsFarm WINNIPEG, July 28 (MarketsFarm) – The ICE Futures canola market was weaker for the second session in a row on Wednesday, with thin volumes exaggerating the move as investors liquidated long positions. While hot and dry Prairie weather conditions remain a supportive influence, those drought concerns have been largely priced into […] Read more
ICE canola weakens in thin trade at midday
By Phil Franz-Warkentin, MarketsFarm WINNIPEG, July 28 (MarketsFarm) – The ICE Futures canola market was weaker at midday Wednesday in thin and choppy activity. The market was holding range-bound overall, with traders waiting to get a better handle on the size of this year’s crop. While hot and dry Prairie weather conditions remain a supportive […] Read more
ICE canola weaker Wednesday morning
By Phil Franz-Warkentin, MarketsFarm WINNIPEG, July 28 (MarketsFarm) – The ICE Futures canola market was weaker Wednesday morning, seeing some follow-through selling after Tuesday’s late turn lower. Speculative positioning was a feature, with the underlying fundamentals still supportive for canola. Scattered thunderstorm activity was bringing moisture to some dry areas of the Prairies, although the […] Read more
Canadian Dollar and Business Outlook: Loonie drops after inflation report
WINNIPEG – The Canadian dollar retreated on Wednesday after Statistics Canada reported the annual inflation rate in June was 3.1 per cent, lower than the 3.6 per cent reported for May. As of 8:49 a.m. CDT, the loonie was at US$0.7940 or US$1=C$1.2594, compared to US$0.7950 or US$1=C$1.2578 when markets closed on Tuesday. Crude oil […] Read more
Global Markets: Canada’s inflation rate 3.1 per cent in June
WINNIPEG – The following is a glance at the news moving markets in Canada and globally. – Statistics Canada announced on Wednesday that the annual rate of inflation was 3.1 per cent in June, lower than the 3.6 per cent recorded in May. Excluding gasoline prices, which increased 32 per cent year-to-year in June, the […] Read more
Canadian Financial Close: C$ weakens ahead of Fed announcement
By MarketsFarm WINNIPEG, July 27 (MarketsFarm) – The Canadian dollar was slightly weaker on Tuesday, as weakness in Chinese equity markets and general economic uncertainty had investors booking profits. The Canadian dollar closed at US$0.7950 or US$1=C$1.2578 on Tuesday, which compares with Monday’s North American close of US$0.7969 or US$1=C$1.2549. Positioning ahead of Wednesday’s interest […] Read more
North American Grain/Oilseed Review: Canola ends lower after choppy day
By Phil Franz-Warkentin, MarketsFarm WINNIPEG, July 27 (MarketsFarm) – The ICE Futures canola market settled with small losses on Tuesday after posting gains for most of the session. Hot and dry Prairie forecasts provided underlying support, but those weather concerns have been priced into the market for some time and canola ran into resistance. Production […] Read more
