Glacier FarmMedia — Canola futures on the Intercontinental Exchange could not hang onto gains from this morning and ended the session lower on Monday. An analyst said the early increases were due to tight old crop carryout. However, dry conditions for the Prairies will allow for harvest progress, while the widening November/January spread was also […] Read more
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North American Grain/Oilseed Review: Canola loses momentum, grains up-and-down
ICE Midday: Canola, crude oil move higher
Glacier FarmMedia — Canola futures on the Intercontinental Exchange were higher on Monday, deriving strength from crude oil, while the November canola contract hovered near its 20-day moving average. Crude oil made gains after Ukraine attacked Russian energy infrastructure on Monday morning. Chicago soyoil and Malaysian palm oil were lower, but European rapeseed was higher. […] Read more
Global Markets: Ukraine attacks Russian power plants
Glacier FarmMedia – The following is a glance at the news moving markets in Canada and globally. – After Ukraine celebrated its Independence Day on Sunday, Russia accused the country of drone attacks at a nuclear power plant overnight in the western Kursk region. Russian officials said several power and energy facilities were targeted in […] Read more
Canadian Dollar and Business Outlook: Loonie, crude oil on the rise
Glacier FarmMedia — The Canadian dollar stepped up on Monday morning, getting support from increases in crude oil. The loonie was at US$0.7227 or US$1=C$1.3837 as of 8:30 a.m. CDT, compared to Friday’s close at US$0.7218 or US$1=C$1.3854. The United States Dollar Index added 0.18 of a point at 97.90. Crude oil prices were higher on […] Read more
ICE Canada Morning Comment: Canola on the rise
Spillover support pushing up prices
By Glen Hallick Glacier FarmMedia | MarketsFarm – Intercontinental Exchange canola futures were higher on Monday morning, gleaning support from comparable oils. There were gains in the Chicago soy complex and European rapeseed, but Malaysian palm oil was lower. Moderate increases in crude oil spilled over into the vegetable oils. The canola harvest across the […] Read more
Canadian Financial Close: Loonie returns above 72 U.S. cents
Greenback falls hard
By Glen Hallick Glacier Farm Media | MarketsFarm – The Canadian dollar on Friday finally turned around to close higher, following the Statistics Canada retail sales report and that the federal government will remove some tariffs on the United States. StatCan reported June retail sales were up 1.5 per cent at C$70.2 billion with increases […] Read more
North American Grain and Oilseed Review: Canola higher after turning around
EPA announcement spins U.S. soyoil around
By Glen Hallick, MarketsFarm Glacier Farm Media MarketsFarm – Intercontinental Exchange canola futures closed with modest gains on Friday, after starting the session with sharp declines. The main reason for the turnaround was Chicago soyoil, which had its own about-face on Friday. The United States Environmental Protection Agency made its long-awaited decision on biofuel exemptions […] Read more
ICE Canola Midday: Futures turn positive
Soyoil erases its losses, pulling canola along
By Glen Hallick Glacier FarmMedia | MarketsFarm – Intercontinental Exchange canola futures were attempting to recover from earlier losses on late Friday morning, as Chicago soyoil turned positive. Soyoil started Friday sharply lower after posting strong gains yesterday and it pulled along canola. A trader said the Trump administration was close to making an announcement […] Read more
Global Markets: Retail sales improve in June
Food and beverages sales led the way
By Glen Hallick Glacier Farm Media | MarketsFarm – The following is a glance at the news moving markets in Canada and globally. Statistics Canada said on Friday that June retail sales improved 1.5 per cent at $70.2 billion, with gains in all nine subsectors. Food and beverage retail sales led with an […] Read more
ICE canola reverses direction
Glacier FarmMedia – Canola futures on the Intercontinental Exchange were lower on Friday morning with mixed sentiment in comparable oils. Agriculture and Agri-Food Canada raised its production estimate for new crop canola by more than two million tonnes at 20.1 million in its monthly report on Thursday. Statistics Canada will release its satellite and model-based […] Read more
