By Glen Hallick Glacier Farm Media | MarketsFarm – Intercontinental Exchange canola futures were higher on Friday morning, despite getting mixed spillover from outside markets. While the Chicago soy complex and Malaysian palm oil were lower, European rapeseed was mostly higher. Crude oil was tacking on small increases, underpinning the vegetable oils. The November canola […] Read more
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ICE Canada Morning Comment: Canola on the rise
November canola challenging $700/tonne
Canadian Financial Close: Loonie retreats, crude oil jumps
Glacier FarmMedia | MarketsFarm – The Canadian dollar took a step back after the release of economic news from Statistics Canada. The loonie ended Thursday at US$0.7337 or US$1=C$1.3630, compared to US$0.7348 or US$1=C$1.3609 on Wednesday. StatCan reported this morning that retail sales in Canada shrank by 1.1 per cent in May with losses led by […] Read more
North American Grain/Oilseed Review: Canola down, corn rises
Glacier FarmMedia | MarketsFarm – Canola futures on the Intercontinental Exchange ended slightly lower on Thursday after an up-and-down day of trade. Variable weather pressured the oilseed as did the November contract meeting resistance at the C$700 per tonne mark, as the contract remained near its 20- and 50-day averages. Chicago soyoil was higher, but […] Read more
ICE Midday: Canola slips in up-and-down trade
Glacier FarmMedia | MarketsFarm – Canola futures on the Intercontinental Exchange were declining in choppy trading mid-session Thursday amid mixed sentiment in vegetable oils. Chicago soyoil was slightly higher, but European rapeseed and Malaysian palm oil were lower. Meanwhile, crude oil made gains as trade optimism and a draw in U.S. stockpiles supported prices. A […] Read more
Global Markets: Retail sales down in May
Glacier FarmMedia | MarketsFarm – The following is a glance at the news moving markets in Canada and globally. – Statistics Canada reported on Thursday that retail sales decreased 1.1 per cent at C$69.2 billion in May, largely due to a 3.6 per cent decline at motor vehicle and parts dealers, as well as a […] Read more
ICE Canada Morning Comment: Canola slipping back
Spillover from Chicago soy
By Glen Hallick Glacier Farm Media | MarketsFarm – Intercontinental Exchange canola futures slipped back on Thursday morning, unable to retain overnight increases. The Prairies continue to expect rain over the weekend. Those areas that recently received precipitation are likely see their crops maintained. However, crops in dry areas will need rain very soon. Support […] Read more
Canadian Dollar and Business Outlook: Loonie steps back, crude oil rises
Glacier FarmMedia | MarketsFarm – The Canadian dollar took a small step back on Thursday morning. The loonie was at US$0.7340 or US$1=C$1.3624 as of 8:28 a.m. CDT, compared to Wednesday’s close at US$0.7348 or US$1=C$1.3609. The United States Dollar Index was up 0.14 of a point at 97.35. Crude oil prices were climbing on trade […] Read more
Canadian Financial Close: Loonie rises higher, gold falls
Glacier FarmMedia | MarketsFarm – The Canadian dollar continued its rise on Wednesday with its best close in nearly three weeks. The loonie ended Wednesday at US$0.7348 or US$1=C$1.3609, compared to US$0.7334 or US$1=C$1.3635 on Tuesday. The United States Dollar Index dropped 0.19 of a point at 97.20. U.S. President Donald Trump announced new trade deals […] Read more
North American Grain/Oilseed Review: Canola rebounds, grains retreat
Glacier FarmMedia | MarketsFarm – Canola futures on the Intercontinental Exchange were higher on Wednesday. This was despite the November contract finding resistance at the C$700 per tonne psychological level as it closed in on its 20- and 50-day moving averages. Chicago soyoil, European rapeseed and Malaysian palm oil were also higher, supporting canola prices. Crude […] Read more
ICE Midday: Canola rises to end downturn
Glacier FarmMedia | MarketsFarm — Canola futures on the Intercontinental Exchange rebounded from recent losses in the middle of Wednesday trading, gaining strength from vegetable oils. The November contract was slightly below its 20- and 50-day averages. Chicago soyoil, European rapeseed and Malaysian palm oil made gains today. However, crude oil showed declines as the […] Read more