MarketsFarm — Early gains were followed by late losses on ICE Futures’ canola market during the week ended Wednesday. The November canola contract began the week at $704.60 per tonne before rising up to $725.80/tonne on Monday, then ending the week at $711.70. The January contract went in similar directions, starting at $710.10/tonne before moving […] Read more
Tag Archives biofuel — page 4
ICE weekly outlook: Upside seen for canola prices
'Aggressive manipulation' seen as a factor
GFO members bring land planning and protection concerns to annual meeting
Fertilizer and carbon tax relief remain ongoing issues
Grain farmer concerns on land use and planning gained traction against ongoing fertilizer pricing and carbon tax issues. Brendan Byrne, Grain Farmers of Ontario (GFO) chair, and CEO Crosby Devitt fielded questions on what measures the organization was taking toward agricultural land protection and intensification planning to address increasing housing pressure during the organization’s annual […] Read more
ICE weekly outlook: Canola ‘due for a bounce’
Weather co-operating, mostly, for Prairie harvesting
MarketsFarm — A month-long decline of ICE Futures canola prices, which saw the oilseed lose $110 per tonne, came to an end and was followed by a bounce-back. While the price of the November canola contract still declined by $10/tonne to $726.10 during the week ended Wednesday, it hit its lowest price since the end […] Read more
ICE weekly outlook: Canola market rising into summer
New StatCan acreage estimates out next week
MarketsFarm — ICE Futures canola contracts have climbed steadily higher since their late-May lows, nearing chart resistance to the upside on the first day of summer. Updated renewable fuel targets released by the U.S. Environmental Protection Agency failed to live up to expectations, sparking a speculative selloff in soyoil. While the limit-down move in soyoil […] Read more
ICE weekly outlook: Canola will follow soyoil up or down
Prairie weather another guiding factor
MarketsFarm — Although canola prices have been somewhat erratic over the last weeks, they along with other oilseeds have generally rebounded, according to trader Ken Ball of PI Financial in Winnipeg. Ball commented there has been a good amount of short-covering in soyoil at the Chicago Board of Trade, as markets positioned themselves for an […] Read more
CBOT weekly outlook: Weather market for soy, corn
U.S. targets for biofuel blending pending
MarketsFarm — With soybean and corn seeding nearing completion across the United States, attention in the futures markets is focused squarely on growing conditions. “We’re in a weather market, so look for traders to keep these prices chopping around over the next few weeks,” said Terry Reilly of Futures International in Chicago. Relatively dry conditions […] Read more
Bunge deal for Viterra to boost oilseed dominance, renewable diesel potential
Canada's Competition Bureau pledges to review deal
Chicago | Reuters — Bunge’s planned acquisition of Viterra would make the world’s biggest oilseed crusher even more dominant and secure a larger role in the expanding renewable diesel industry, although it may face competition hurdles. Under the deal to create an agricultural giant worth about $34 billion including debt, Bunge’s crushing capacity will increase […] Read more
Fuel makers look to winter canola for carbon neutral goals
New U.S. partnership aims to expand double-cropping acreage
Low-carbon fuel standards and other climate change-related government policy initiatives, along with a recent initiative to grow more winter canola for biofuel production, could see more winter canola grown in Ontario. North American energy companies are eyeing ways to reduce the long-term carbon footprint of what they sell. A recently-announced U.S. collaboration could benefit southern […] Read more
ICE weekly outlook: Upswings likely out of question for canola
Canada's exports expected to ebb
MarketsFarm — Don’t expect any large increases in canola prices any time soon, according to Ken Ball of PI Financial in Winnipeg. In fact, there’s a good chance seen that old-crop canola could fall below its support level of $800 per tonne. Ball said 2022-23 canola ending stocks in Canada could increase because of the […] Read more
Germany considering withdrawal from crop-based biofuels by 2030
Lawmakers seek to boost biofuel made from wastes
Hamburg | Reuters — Germany’s government is considering proposals to phase out the use of biofuels produced from food or animal feed crops by 2030, the German biofuels industry association (VDB) said on Tuesday, adding the measure could increase carbon emissions. German environment minister Steffi Lemke said Jan. 17 she will soon send proposals to […] Read more
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