MarketsFarm — ICE Futures canola contracts saw a sharp downward correction in early trading days of May, after setting all-time highs in April. While the correction was long overdue, underlying supportive influences remain in place and the market could be due for some sideways trade as participants now wait to get a better handle on […] Read more
Tag Archives Oilseeds — page 8
ICE weekly outlook: Jittery spring market for canola
Elevator declarations changing Aug. 1
CGC says the move won't harm Canada's grain quality assurance system
The declarations of eligibility western Canadian farmers sign before delivering to elevators, effective Aug. 1, will no longer include crops that don’t require end-use quality assessment as part of the variety registration process. “It’s not a big change,” Canadian Grain Commission (CGC) spokesman Remi Gosselin said in an interview Thursday. Wade Sobkowich, executive director of […] Read more
ICE weekly outlook: Canola books steep rise in prices
MarketsFarm — Canola prices, along with other edible oils, received a strong boost on Wednesday due to sharp upticks in Malaysian palm oil values. Canola futures have also received support from a bullish forecast this week from Statistics Canada on planted acres for this spring. Despite the Indonesian government stating Monday its export ban on […] Read more
U.S. grains: Soyoil futures rally to record high
Corn hits highest since August 2012
Chicago | Reuters — U.S. soyoil futures surged to a record high on Wednesday after Indonesia broadened its export ban on raw materials for cooking oil to fight food inflation, traders said. “The move dramatically tightens an already tight global supply of edible oils that saw global prices surge when the Russian invasion of Ukraine […] Read more
Indonesia’s palm oil export ban seen short-lived on limited storage
Jakarta/Mumbai | Reuters — Indonesia’s ban on palm oil exports is unlikely to last more than a month as Jakarta has limited infrastructure to store the surplus oil and the country faces mounting pressure from buyers to resume shipments, industry officials said. The world’s top palm oil exporter announced plans to ban exports on Friday, […] Read more
ADM, Bunge expected to post strong results as Ukraine war ignites demand
Chicago | Reuters – A string of strong quarterly profits by global agribusinesses Archer-Daniels-Midland Co ADM.N and Bunge Ltd BG.N likely continued in the first quarter despite surging crop costs and global supply chain disruptions triggered by Russia’s invasion of Ukraine, analysts said ahead of earnings releases this week. Both companies capitalized on good oilseed […] Read more
EU’s oilseed yields expected to decline in 2022-23
USDA's attaches predict uptick in EU's oilseed acres
MarketsFarm — The U.S. Department of Agriculture’s (USDA) attachés in Europe have projected oilseed production in the 27-member European Union to increase just slightly in 2022-23. The 18 attachés involved in the report expect about 31.07 million tonnes in total, for a 0.4 per cent bump in total oilseed output from 2021-22. The oilseeds included […] Read more
U.S. grains: Soyoil surges on Indonesia export ban
Soybean, corn futures sag on profit-taking
Chicago | Reuters — U.S. soyoil futures surged to all-time highs on Friday after Indonesia blocked exports of palm oil, a competing vegetable oil, but soybean and corn futures fell on profit-taking ahead of the weekend. Wheat futures ended modestly lower after a choppy session as brokers weighed tightening global grain stocks against sluggish export […] Read more
Indonesia bans palm oil exports as global food inflation spikes
Government under pressure to control cooking oil prices
Jakarta | Reuters — Indonesia, the world’s top palm oil producer, announced plans to ban exports of the most widely used vegetable oil on Friday, in a shock move that could further inflame surging global food inflation. The halting of shipments of the cooking oil and its raw material, widely used in products ranging from […] Read more
ICE weekly outlook: Trend remains pointed higher for canola
MarketsFarm — The ICE Futures canola market climbed to fresh contract highs once again during the week ended Wednesday, although profit-taking at those highs did slow the advances. While additional corrections are possible, both the underlying fundamentals and technical remain supportive. “This is the bull market of all time in canola,” said analyst Mike Jubinville […] Read more
Cyber-Savvy Farmer
