Chicago | Reuters — U.S. soybean futures hit their highest in seven months on Wednesday on technical buying and as soyoil futures rallied with energy markets and historically high palm oil prices. Concerns about a reduced South American harvest and exports from top soy supplier Brazil offered further support, with strength spilling over into corn […] Read more
Tag Archives Oilseeds — page 10
U.S. grains: Soybeans reach seven-month peak
Oil strength, South American crop worries lift soy; CBOT corn up, wheat down
ICE weekly outlook: Choppy canola trade expected
Old-crop 'likely pushing the upper limits'
MarketsFarm — A speculative selloff weighed heavily on the ICE Futures canola market during the week ended Wednesday, before the selling subsided and prices regained much of their lost ground. “For prices this high, that’s pretty routine stuff,” said Ken Ball of PI Financial in Winnipeg on the $80 per tonne drop in the nearby […] Read more
AAFC adjusts grain, oilseed balance sheets slightly
MarketsFarm –– Updated supply and demand tables from Agriculture and Agri-Food Canada (AAFC), released late Friday, included only minor adjustments to balance sheets for the country’s major crops. The department’s projected ending stocks for wheat and canola were left unchanged from the previous month. Factoring in the official estimates from Statistics Canada, released Dec. 3, […] Read more
ICE weekly outlook: Canola futures bend under pressure
MarketsFarm — As the speculative longs for ICE Futures canola keep trying to defend their position, trader Ken Ball of PI Financial in Winnipeg said the pressure on canola continued to build. That’s especially so with declines over the last few weeks in Chicago soyoil, Malaysian palm oil and European rapeseed, he said. “No one […] Read more
U.S. grains: Soybeans up as soymeal gains sharply against soyoil
CBOT corn up, wheat lower
Chicago | Reuters — U.S. soybean futures rose about one per cent on Tuesday as soymeal futures soared on expectations of rising demand for the high-protein feed ingredient, analysts said. Chicago Board of Trade soymeal futures gained sharply against soyoil futures on meal/oil spreading, with soyoil falling to six-month lows on expectations that U.S. oil […] Read more
USDA expects canola, sunflowers elsewhere to offset Canada’s shortfalls
MarketsFarm –– Good canola and rapeseed crops in Australia and a number of other parts of the world along with large world sunflower seed production should help offset Canada’s smaller-than-expected production somewhat, according to the December oil crops outlook from the U.S. Department of Agriculture. Total global canola/rapeseed production is now forecast by USDA at […] Read more
ICE weekly outlook: Canola market strong but choppy
MarketsFarm — Nearby ICE Futures canola contracts climbed to fresh highs during the week ended Wednesday, while= deferred months moved lower. The new-crop November 2022 contract had overshot to the upside and was due for a correction, said Keith Ferley of RBC Dominion Securities in Winnipeg. Any weakness would likely be met by commercial buying, […] Read more
Repair work on B.C. rail lines expected for days yet
CP expects to resume service 'mid-week;' some highways open only for essential travel
Canada’s big two railways expect repair work to continue into at least next week before service can resume through storm-battered areas of British Columbia to export terminals at Vancouver. Both railways, along with several major B.C. highways, have been shut this week due to damage from flooding and landslides spurred by a major multi-day storm […] Read more
ICE weekly outlook: Canola’s trend line still pointed higher
MarketsFarm — The ICE Futures canola market strengthened during the week ended Wednesday, hitting fresh highs in many contract months. “The trend remains up,” analyst Mike Jubinville of MarketsFarm Pro said. “The price of canola needs to be put at a level that discourages exports, while the domestic crushers actively pursue attaining as much of […] Read more
Bunge raises 2021 profit outlook on higher food, renewable fuel demand
Bunge Ltd reported stronger-than-expected third-quarter results and raised its full-year profit outlook on Wednesday for a third time this year amid improved demand for food and renewable fuel as pandemic restrictions have eased. Although volumes in the U.S. agricultural commodities trader’s core agribusiness and its refined and specialty oils units were down, robust oilseed processing […] Read more
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