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Markets

Volatile oil market most likely to improve says analyst 

Israel-Gaza war, Red Sea attacks having less impact than expected

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As the global oil market continued to ready itself for 2024, one analyst stated it’s more likely prices will increase than to drop further. Phil Flynn of the Price Futures Group in Chicago said one’s outlook on crude oil is predicated on their economic view. 
CBOT May 2020 corn with 20-, 50- and 100-day moving averages. (Barchart)
Crops, Markets

U.S. grains: Corn, soy, wheat slide with financial markets

Drop in oil prices adds pressure on corn

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Chicago | Reuters — U.S. grain and soybean futures fell on Friday as the spread of the new coronavirus triggered broad selling in commodities and equities. Wall Street tumbled as fears of economic damage intensified with the global tally of cases crossing 100,000. Financial markets view the virus, which causes a flu-like illness, as the […] Read more
(Dave Bedard photo)
Machinery, Markets

Oil sanctions on Venezuela could benefit Canada

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How Canada benefits from the oil sanctions the United States plans to place on Venezuela is contingent on the country’s ability to move its Western Canadian Select crude oil to U.S. refineries, said two oil industry experts. As part of an effort to effect regime change in Venezuela, U.S. President Donald Trump announced this week […] Read more
(Dave Bedard photo)
Markets

Ag seen gaining on slightly weaker loonie in 2019

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CNS Canada — Farm Credit Canada (FCC) predicts the Canadian dollar will spend the year around the 75-U.S. cent mark — slightly softer than last year’s average of 76. “We’re going to see volatility throughout the year obviously but when we look at that season, or the full year average, we’re looking for it to […] Read more
(Dave Bedard photo)
Markets

Tight supplies could see diesel prices rise

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CNS Canada – As supply tightens, farmers should consider stocking up on diesel before it’s too late, according to an analyst. “We think the market’s getting kind of overdone down here and this might be your best chance…if we do get a cold winter I think we’ll see these prices really pop,” said Phil Flynn […] Read more
Farmers worldwide are feeling the pinch as fuel costs rise to near four-year highs, eroding agricultural income already hamstrung by depressed crop prices.
News

Farmers worldwide struggle with rising fuel costs

It’s leading some farmers to change their management practices or lock in prices months in advance

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The agricultural sector, from Canada and the United States, to Russia, Brazil and Europe, is seeing profits harmed by the rise in diesel prices. The global oil benchmark, Brent crude, touched US$80 a barrel for the first time since late 2014 in mid-May. In the U.S., fuel accounts for about five per cent of farmers’ […] Read more
(Dave Bedard photo)
Crops, Machinery, Markets

Crude’s slide hampers demand for Canadian biofuel

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CNS Canada — The trickle-down effect of slumping crude oil prices is being felt in the Canadian biofuel market and softening demand for corn and soybeans. Traditionally, ethanol is cheaper than gasoline, which encouraged processors to blend more than the mandated amount, according to Andrea Kent, president of the Canadian Renewable Fuels Association (CRFA). “When […] Read more
(Dave Bedard photo)
Crops, Markets

Canola crush margins hit best levels in months

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CNS Canada –– Canola crush margins have improved considerably over the past few weeks, hitting levels not seen in over six months, as vegetable oil prices rose and the Canadian dollar dropped. Crush margins provide an indication of the profitability of the product values relative to the seed cost when processing canola, with exchange rates […] Read more
(Barry Wilmore photo courtesy NASA)
Crops, Markets

Global markets: Japan, Germany cut economic forecasts

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CNS Canada –– The following is a glance at the news moving markets globally. JAPAN CUTS INDUSTRIAL PRODUCTION, ECONOMIC OUTLOOK – The Japanese government downgraded its assessment of industrial production and identified some areas of weakness in a monthly government report released on Wednesday. The reduced forecast for industrial production is due to weaker demand […] Read more

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