CAD skidding

[beaverdam]

This morning BNN is posting it at 76.75 , wtf!

Wasn't just a week or so back it was 79-80

Keep an eye on the exchange/basis, graincos don't need to take more.

[errolanderson]

U.S. dollar has been on an amazing rally with U.S. treasury yields rising and safe-haven buying. This has contributed selling pressure on other currencies, including commodity-based. Gold also impacted . . . .

[crusher]

Bad Canadian Dollar helps wheat basis. It should also help canola futures, but charts don't show that. Maybe I shouldn't get my market advise from Agriville.

[errolanderson]

The Euro is now at its lowest level against the U.S. dollar since 2002. ECB key lending rate is still negative.

[beaverdam]

Bad Canadian Dollar helps wheat basis.

Let me help you,

Bad Canadian Dollar should help wheat basis.

but that is only contingent if the graincos pass the slide in exchange back to you, in their basis charges!

[beaverdam]

CAD down to 76.34 currently, looks like it was as low as 75.605

Gold down 24.40

[errolanderson]

CAD down to 76.34 currently, looks like it was as low as 75.605

Gold down 24.40

Crude oil heaving pressuring loonie. WTI broke below $89 per barrel this morning. Diesel prices now dropping, good news.

BOC 1 percent rate hike did nothing to support the loonie. Fallout in Canada’s economy gaining momentum.

[Old Cowzilla]

Should mean a nice bump in cattle prices too hopefully the yearlings

[errolanderson]

CAD down to 76.34 currently, looks like it was as low as 75.605

Gold down 24.40

Silver leader to the downside for precious metals . . . . Sept Silver approaching $18 per oz, down 20% in the past three (3) weeks. A meltdown . . . .

[sumdumguy]

A massive US interest rate hike in on the horizon when inflation hit 9.1%. Anticipation of the hike is boudin good the American against the limp rag Canadian and others. We needed a 2+ percent move here last week. But really with the government we have I am surprised the CDN is not in the 60’s. Shush my mouth.