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
Market Wire
North American Grain and Oilseed Review: Old crop canola remains lower
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
ICE canola weakens ahead of USDA report
By Phil Franz-Warkentin, MarketsFarm WINNIPEG, Jan. 12 (MarketsFarm) – The ICE Futures canola market was mostly weaker Wednesday morning, as speculators continued to take profits on their large net-long positions. The United States Department of Agriculture releases its monthly supply/demand report at 11:00 CST, and any surprises in the data will likely dictate how the […] Read more
Global Markets: U.S. inflation climbs to 40-year high
Compiled by Glen Hallick, MarketsFarm WINNIPEG, Jan. 12 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally. – Inflation in the United States hit a 40-year high, according to the Bureau of Labor Statistics on Wednesday. The Consumer Price Index climbed 0.5 per cent in December, which pushed […] Read more
Canadian Dollar and Business Outlook: U.S. inflation rises to seven per cent
WINNIPEG – The Canadian dollar continued its rise on Wednesday due to higher oil prices and unwelcome economic data from the United States. As of 8:35 a.m. CST, the loonie was at US$0.7988 or US$1=C$1.2519 on Wednesday, compared to US$0.7933 or US$1=C$1.2606 on Tuesday. The U.S. Dollar Index was down 0.34 points at 95.28. The […] Read more
Canadian Financial Close: Markets climb after Powell comments
WINNIPEG – Comments from United States Federal Reserve chair Jerome Powell and greater demand for crude oil helped raise the markets and the Canadian dollar on Tuesday. The loonie was at US$0.7933 or US$1=C$1.2606 on Tuesday, up from Friday’s close of US$0.7887 or US$1=C$1.2679. The United States Dollar Index lost 0.38 of a point to […] Read more
North American Grain and Oilseed Review: Rapeseed, profit-taking pull down canola
By Glen Hallick, MarketsFarm WINNIPEG, Jan. 11 (MarketsFarm) – Intercontinental Exchange (ICE) canola futures finished with declines in the old crop positions on Tuesday, while new crop November was up. Losses in European rapeseed, especially a sharp drop in its February contract weighed on values. A trader noted that there was some profit-taking in canola […] Read more
ICE Canola Midday: Old crop down, new crop up
By Glen Hallick, MarketsFarm WINNIPEG, Jan. 11 (MarketsFarm) – Intercontinental Exchange (ICE) canola futures saw declines continue in the old crop positions at midday Tuesday. Meanwhile, the sparsely traded new crop November was slightly higher. A trader said there was some profit-taking going in canola as it remains expensive due to tight supplies. There was […] Read more
Global Markets: Powell admits inflation has taken a toll
Compiled by Glen Hallick, MarketsFarm WINNIPEG, Jan. 11 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally. – Prior to appearing before the United States Senate Banking Committee on Tuesday, U.S. Federal Reserve Chair Jerome Powell publicly acknowledged that inflation has exacted a toll on “those less able […] Read more
ICE canola weakens with profit-taking
By Phil Franz-Warkentin, MarketsFarm WINNIPEG, Jan. 11 (MarketsFarm) – The ICE Futures canola market was weaker Tuesday morning, retreating from overnight gains as speculative traders took profits on their large long positions. A downturn in the Chicago Board of Trade soy complex contributed to the softer tone in canola, with soyoil retreating from its own […] Read more
