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CAD skidding

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    CAD skidding

    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.

    #2
    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 . . . .

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      #3
      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.

      Comment


        #4
        The Euro is now at its lowest level against the U.S. dollar since 2002. ECB key lending rate is still negative.

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          #5
          Originally posted by crusher View Post
          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!

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            #6
            CAD down to 76.34 currently, looks like it was as low as 75.605

            Gold down 24.40
            Last edited by beaverdam; Jul 14, 2022, 09:59.

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              #7
              Originally posted by beaverdam View Post
              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.

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                #8
                Should mean a nice bump in cattle prices too hopefully the yearlings

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                  #9
                  Originally posted by beaverdam View Post
                  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 . . . .

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                    #10
                    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.

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                      #11
                      Originally posted by sumdumguy View Post
                      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.
                      Wait a week. The end of canuckistan is nigh. The prospect of having to pay 100% of bankrupt canuckistan's bills will finally get AB motivated to achieve independence.

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                        #12
                        Originally posted by Old Cowzilla View Post
                        Should mean a nice bump in cattle prices too hopefully the yearlings

                        $1800USD for 1000# feeder steers in Nebraska yesterday.

                        Must be slowing up on the droughted out cows for short term

                        http://bassettlivestock.com/market-results/

                        Special yearling sale.
                        Add about 1/3 if buying with CAN$???

                        Guys with yearlings will be rich!
                        Last edited by shtferbrains; Jul 14, 2022, 16:10.

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