By Phil Franz-Warkentin, MarketsFarm WINNIPEG, Jan. 14 (MarketsFarm) – The ICE Futures canola market remained pointed lower Friday morning, as speculators continued to liquidate their long positions and book profits. Weakness in the Chicago Board of Trade soy complex put some additional spillover pressure on the Canadian oilseed. However, European rapeseed and Malaysian palm oil […] Read more
Market Wire
ICE canola continues downtrend Friday morning
Canadian Financial Close: Loonie closes above 80 United States cents
WINNIPEG – For the first time since Nov. 10, the Canadian dollar closed the day above the 80 United States cent mark as the greenback continued to falter. The loonie was at US$0.8010 or US$1=C$1.2484 on Thursday, up from Wednesday’s close of US$0.7994 or US$1=C$1.2510. The U.S. Dollar Index lost 0.05 of a point to […] Read more
North American Grain and Oilseed Review: Canola tumbles hard with comparable oils
By Glen Hallick, MarketsFarm WINNIPEG, Jan. 13 (MarketsFarm) – Intercontinental Exchange (ICE) canola futures were sharply lower on Thursday in the heaviest trading session in a number of weeks. There was significant weakness in the old crop months, as new crop positions saw more modest declines. At the center of the sharp reductions in the […] Read more
ICE Canola Midday: Rain for South America flushing out specs
By Glen Hallick, MarketsFarm WINNIPEG, Jan. 13 (MarketsFarm) – Intercontinental Exchange (ICE) canola futures were weaker at midday Thursday, especially in the old crop contracts with losses in the crop positions not as severe. A trader said that spec money was “flushing out” of soybeans on ideas that dry conditions in South America could improve […] Read more
Global Markets: Unexpected trucker vaccine mandate reversal
Compiled by Glen Hallick, MarketsFarm WINNIPEG, Jan. 13 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally. – In a sudden about-face, the Canadian government backed away on Wednesday afternoon from its strong assertion that truckers crossing the border with the United States would need to quarantined for […] Read more
ICE canola down sharply Thursday morning
By Phil Franz-Warkentin, MarketsFarm WINNIPEG, Jan. 13 (MarketsFarm) – The ICE Futures canola market was posting large losses Thursday morning, seeing a continuation of Wednesday’s selloff as speculators booked profits on their large long positions. Losses in the Chicago Board of Trade soy complex and strength in the Canadian dollar contributed to the weakness in […] Read more
Canadian Dollar and Business Outlook: Loonie above 80 United States cents
WINNIPEG – The Canadian dollar has surpassed the 80 United States cent mark on Thursday. As of 8:39 a.m. CST, the loonie was at US$0.8027 or US$1=C$1.2458 on Thursday, compared to US$0.7994 or US$1=C$1.2510 on Wednesday. The U.S. Dollar Index was down 0.20 points at 94.72. The U.S. Labor Department announced on Wednesday the consumer […] Read more
Canadian Financial Close: Loonie approaches 80 United States cents
WINNIPEG – The Canadian loonie closed Wednesday just shy of 80 United States cents, after hitting a high of US$0.8002. The loonie was at US$0.7994 or US$1=C$1.2510 on Wednesday, up from Tuesday’s close of US$0.7933 or US$1=C$1.2606. In a report to clients on Tuesday, J.P. Morgan expects the Bank of Canada to raise its benchmark […] Read more
North American Grain and Oilseed Review: Old crop canola remains lower
By Glen Hallick, MarketsFarm WINNIPEG, Jan. 12 (MarketsFarm) – Intercontinental Exchange (ICE) canola futures dropped back in the old crop months on Wednesday, while new crop November had a modest increase. A sharp drop in European rapeseed combined with profit-taking weighed on canola values. Meanwhile gains in Malaysian palm oil and a positive turnaround in […] Read more
ICE Canola Midday: Prices taking a step back
By Glen Hallick, MarketsFarm WINNIPEG, Jan. 12 (MarketsFarm) – Intercontinental Exchange (ICE) canola futures were weaker at midday Wednesday, with double-digit losses in the old crop months. An analyst said profit-taking could be part of the reason for the pull back, but noted moves of C$15 per tonne either way in canola aren’t too significant […] Read more
