New York | Reuters — U.S. lawmakers from states that produce corn for ethanol plants said on Wednesday they would consider proposals from Senator Ted Cruz of Texas to help the oil refining industry cope with the nation’s biofuels regulation, but would never agree on anything that diminishes the program. The price of U.S. renewable […] Read more
U.S. Midwest lawmakers will consider biofuel changes
CBOT weekly outlook: Corn, soy look vulnerable to downside
CNS Canada — Soybean and corn futures both suffered losses over the past week as improving weather patterns in South America have pushed the commodities below their recent support levels. CBOT March corn dipped below the psychologically-important $3.50 a bushel level on Tuesday (all figures US$). The market was pressured by the U.S. Department of […] Read more
Feed barley in sync with Manitoba corn
CNS Canada — This year’s bumper harvest of Manitoba corn is making an impact at Alberta feedlots. According to Market Place Commodities at Lethbridge, feed barley prices are near the $215 per tonne mark, down $5 from a few weeks ago. “Corn is filling some of the volume demand, so it is keeping the price […] Read more
CBOT weekly outlook: Soybean markets excite while corn settles
CNS Canada — Soybean prices on the Chicago Board of Trade (CBOT) are finding support from Argentina weather while corn markets remain stuck in sideways trading, according to a Chicago trader. “The corn markets have kind of been left out of the Argentina weather equation with heavy fund selling here and there… and then might […] Read more
CBOT weekly outlook: Rangebound corn, soy watch South America, exports
CNS Canada — Weak exports and improving growing conditions in South America are casting a bearish tint over near-future prospects for corn and soybeans. One market analyst in Illinois noted the corn market was also extremely oversold. “A good technical close for December corn this week would be over $3.36” a bushel, said Scott Capinegro, […] Read more
Mexico court rejects appeal to lift GM corn ban
Mexico City | Reuters –– A Mexican court has rejected a company’s appeal to lift a ban on commercial planting of transgenic corn in Mexico, passing the matter to the Supreme Court, a lawyer for the firm said Friday. A federal court in Mexico City rejected the suit by PHI Mexico, a unit of U.S. […] Read more
CBOT weekly outlook: Soybeans excite ahead of holiday
CNS Canada — While corn futures sat quietly this week on the Chicago Board of Trade (CBOT), soybean futures were another story ahead of the U.S. Thanksgiving weekend. On Tuesday, “there was a lot of talk that Argentina was going to have some very good rains; the (soybean) market was understanding of that,” said Steve […] Read more
CBOT weekly outlook: Investors look for quick buys in corn
CNS Canada — Pressure continues to build on the Chicago Board of Trade corn market but there could be a glimmer of hope as traders look for places to park money ahead of next week’s U.S. Thanksgiving Day holiday. “I think people are looking for a place to buy the market here in a short-term […] Read more
CBOT weekly outlook: Corn and soybeans down after USDA report
CNS Canada – Corn and soybean futures at the Chicago Board of Trade fell following the United States Department of Agriculture’s crop production report which raised corn estimates and kept soybeans at previous estimates. “I expect the low volatility environment to continue with soybeans remaining in tight trading short term. And for corn prices eventually […] Read more
Monsanto halts U.S. seed treatment launch after complaints of rashes
Chicago | Reuters — Monsanto put on hold the launch of a seed treatment on Wednesday, following reports it causes rashes on people, in the latest instance of complaints about a company product that was approved by U.S. environmental regulators. Monsanto froze plans for commercial sales of the product called NemaStrike, which can protect corn, […] Read more