MarketsFarm — China has largely been behind the current upticks in global crude oil prices, according to Tom Kloza, global head of energy analysis for Oil Price Information Services in Lakewood, NJ. He suggested that China’s economy will begin to pick up steam in 2023 after the government loosened its super-tight COVID-19 restrictions. “You can […] Read more
Tag Archives china — page 25
China driving crude oil price increases
Bulls on crude oil expect a 'very shallow' recession
ICE weekly outlook: Canola’s steady week takes late turn
Outlook 'neutral to bearish'
MarketsFarm — While canola prices turned lower Wednesday, the week ending that day was full of rangebound trade activity with little movement. The March canola contract traded within a range of $832-$846.70 per tonne during the week, settling at the low end of the range after falling $5.20 on Wednesday to close at $832.70/tonne. Winnipeg-based […] Read more
CBOT weekly outlook: Soy, corn markets’ eyes on South America
Wheat market remains sensitive to Ukraine news
MarketsFarm — Soybean and corn futures at the Chicago Board of Trade were boosted by last Thursday’s bullish supply/demand estimates from the U.S. Department of Agriculture, but attention has since shifted back to South American growing conditions. “The primary thing right now is South American weather,” said market analyst Tom Lilja of Progressive Ag at […] Read more
China’s 2022 pork output highest in eight years
Average hog weights remain relatively high
Reuters — China’s pork output increased 4.6 per cent in 2022 from 2021 to reach its highest level since 2014, official data showed on Tuesday, confounding some expectations for a smaller rise. Pork output in the world’s top producer of the meat reached 55.41 million tonnes, the highest since 56.71 million tonnes recorded eight years […] Read more
CBOT weekly outlook: Bullish USDA report lifts grain markets
MarketsFarm — The bulls were off and running Thursday after the U.S. Department of Agriculture (USDA) released its monthly supply/demand estimates, which showed underwhelming grain production and ending stock figures for the 2022-23 marketing year. U.S. corn production was estimated at 13.73 billion bushels, 192 million below the lower end of trade expectations despite a […] Read more
Prairie cash wheat: Bids lower despite supportive factors
March CBOT, K.C. wheats up on week
MarketsFarm — Despite concerns related to cold weather in the U.S., war in Ukraine and rising numbers of COVID-19 infections in China, most western Canadian wheat bids were lower for the week ended Thursday. Profit-taking in wheat futures was evident on the Chicago Board of Trade (CBOT), as March contracts for both Kansas City hard […] Read more
China to launch grain reserves company in 2023
Reuters — China’s state-owned grains trader COFCO said on Thursday a new joint venture it has set up with state stockpiler Sinograin to manage the country’s huge grain reserves will officially begin operations next month. The China Enterprise United Grain Reserve Co. Ltd. was established in September, according to the COFCO statement on its public […] Read more
U.S. grains: Soybeans firm as investors track Argentine weather
Wheat, corn drift lower after multi-week highs
Chicago | Reuters — Chicago soybean futures rose on Thursday, after rallying earlier in the day to the highest price since June, as investors tracked forecasts for much-needed rain across Argentine crops and China’s dropping of strict COVID-19 measures. But the price rally was capped by investors looking to capture profits and adjust their positions […] Read more
U.S. grains: Soy firm on Argentina weather, China demand hopes
Wheat market awaits U.S. winterkill assessment
Chicago | Reuters — Chicago soybean futures rose for a third consecutive session on Wednesday as traders watched weather forecasts in Argentina for signs of much-needed rainfall, while China’s dismantling of COVID-19 restrictions raised hopes for improved demand. Corn also found support from uncertain weather in South America, while wheat lifted as trade kept monitoring […] Read more
U.S. grains: Soybeans end higher
Traders weigh Argentine dryness, U.S. exports; winter wheat underpinned by fears of winterkill damage; corn up on export news
Chicago | Reuters — Chicago soybean futures ended slightly higher on Tuesday after jumping to six-month highs earlier in the day, supported by continued dryness in major soymeal exporter Argentina. Corn lifted after U.S. exporters reported a daily sale of 177,500 tonnes of corn for delivery to Japan, the U.S. Department of Agriculture said. Wheat […] Read more
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