By Phil Franz-Warkentin, MarketsFarm WINNIPEG, Feb. 2 (MarketsFarm) – The ICE Futures canola market was narrowly mixed at Wednesday’s close, managing to turn higher in the most active months late in the day after posting losses for most of the session. Gains in Chicago Board of Trade soybeans and soyoil provided underlying support throughout the […] Read more
Market Wire
North American Grain/Oilseed Review: Canola mostly higher after early losses
ICE canola mixed in choppy trade
By Phil Franz-Warkentin, MarketsFarm WINNIPEG, Feb. 2 – (MarketsFarm) – The ICE Futures canola market was mixed at midday Wednesday, with losses in the most active old crop contracts and a firmer tone in the more deferred months. While a firmer tone in Chicago Board of Trade soybeans and soyoil provided some underlying support, a […] Read more
Global Markets: Euro zone inflation hits record high
By MarketsFarm WINNIPEG, Feb. 2 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally. – Inflation in the Euro zone rose to a record high or 5.1 per cent in January, according to a report from Eurostat. The growth was up from 5.0 per cent the previous month […] Read more
Canadian Dollar and Business Outlook: OPEC+ commits to gradual supply hike
WINNIPEG – The Canadian dollar slightly rose on Wednesday along with crude oil prices. As of 8:42 a.m. CST, the loonie was at US$0.7886 or US$1=C$1.2681 on Wednesday, compared to US$0.7878 or US$1=C$1.2694 on Tuesday. The United States Dollar Index was down 0.43 points at 95.96. Benchmark crude oil prices are rising yet again after […] Read more
ICE Canada Morning Comment: More gains for canola
WINNIPEG, Feb. 2 (MarketsFarm) – Intercontinental Exchange (ICE) canola futures were mostly higher on Wednesday morning, with gains in the old crop months. Spillover came from strong upticks in the Chicago soy complex, as well as increases in European rapeseed. The Malaysian palm oil market remained closed for the Lunar New Year celebrations. Further upswings […] Read more
Canadian Financial Close: Loonie, TSX rise after release of economic data
WINNIPEG – The Canadian dollar continued its recent upturn after the release of new economic data from Statistics Canada on Tuesday. The loonie was at US$0.7878 or US$1=C$1.2694 on Tuesday, up from Monday’s close of US$0.7862 or US$1=C$1.2719. The country’s central data agency reported that the gross domestic product (GDP) grew by 0.6 per cent […] Read more
North American Grain/Oilseed Review: Canola strengthens with soy complex
By Phil Franz-Warkentin, MarketsFarm WINNIPEG, Feb. 1 (MarketsFarm) – The ICE Futures canola market was stronger on Tuesday, finding spillover support from a rally in the Chicago Board of Trade soy complex. Chart-based buying contributed to the gains, as speculators adjusted positions and added to their long positions. Ongoing concerns over tight old crop supplies […] Read more
ICE canola climbing higher with soy complex
By Phil Franz-Warkentin, MarketsFarm WINNIPEG, Feb. 1 – (MarketsFarm) – The ICE Futures canola market was stronger at midday Tuesday, recovering from earlier losses as gains in the Chicago Board of Trade soy complex provided support. Soybeans climbed to fresh contract highs on the back of production worries out of South America. Soyoil was also […] Read more
Global Markets: Conservatives face internal revolt
By MarketsFarm WINNIPEG, Feb. 1 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally. – Internal disagreements in Canada’s opposition Conservative Party could see a leadership vote on Erin O’Toole as early as Wednesday, according to reports. A vote of 50 per cent plus one of the 119 […] Read more
Canadian Dollar and Business Outlook: Canada’s economy rises above pre-pandemic levels
WINNIPEG – The Canadian dollar was mostly steady on Tuesday while Statistics Canada released its monthly economic report. As of 8:35 a.m. CST, the loonie was at US$0.7869 or US$1=C$1.2708 on Tuesday, compared to US$0.7862 or US$1=C$1.2719 on Monday. Canada’s central data agency reported that the country’s gross domestic product (GDP) grew 0.6 per cent […] Read more
