New York / Reuters – The U.S. government may have to require more biofuels to be blended into the country’s fuel supply after a court ruled on Friday that the mandates must be reconsidered, a decision that boosted renewable fuel credits to seven-month highs on financial markets. The decision sank stock prices of independent refiners […] Read more
Court decision may boost biofuels, hit refiners
CBOT weekly outlook: Corn, soy seen rising
CNS Canada — Corn and soybean futures at the Chicago Board of Trade are moving in turbulent trade with each U.S. weather forecast. “It’s all on raindrops right now,” said Scott Capinegro of Barrington Commodity Brokers. Recent forecasts for rain have pressured corn and soybean markets, though declining crop conditions could provide support moving forward. […] Read more
China approves two more GMO crops for import
Beijing | Reuters — China has approved two more genetically modified (GMO) crops for import, the Ministry of Agriculture said, the second such move in the past month to expand access to biotech seeds as part of Beijing’s 100-day trade talks with Washington. The two new crops, approved from July 16 for a period of […] Read more
CBOT weekly outlook: December corn looks pricey above $4 mark
CNS Canada — A larger than expected carryout of U.S. corn supplies has cast a bearish tint over the market. In the U.S. Department of Agriculture’s monthly supply and demand report, the agency pegged domestic corn stockpiles for 2017-18 at 2.325 billion bushels, which exceeded the June projection of 2.11 billion. Futures quickly plunged lower, […] Read more
Dow to sell part of Brazil corn seed business
Reuters — Dow Chemical said it had agreed to sell a portion of its corn seed business in Brazil to a unit of China’s CITIC Ltd. for US$1.1 billion as it seeks to gain approval for its merger with DuPont from the country’s antitrust regulator. The divestiture includes seed processing plants and seed research centers, […] Read more
CBOT weekly outlook: Soy, corn enter summer weather market
CNS Canada — Soybean and corn futures posted solid gains over the past week, and may have more room to the upside as the U.S. Midwest enters the heat of summer. “It’s still early July, and we have the bulk of the important growing weather ahead of us,” said Rich Feltes, of RJ O’Brien in […] Read more
U.S. farmers running out of opportunities to sell corn at profit
Washington | Reuters — U.S. farmers who have been holding out for higher prices for their corn may finally sell their grain below target levels in the next few weeks as a government report released Friday underscores the huge supplies left in storage bins around the country, analysts said. The U.S. Agriculture Department said that […] Read more
CBOT weekly outlook: Corn, soy move with trader positioning
CNS Canada –– Corn and soybean futures at the Chicago Board of Trade are moving in trader-positioning with technical features and ahead of key data. Investors in CBOT corn and soybean markets are rolling out of positions in the July contract into more deferred months. “With that said, we’re seeing a lot of shorts shore-up […] Read more
Syngenta ordered to pay Kansas farmers in GM corn case
Reuters — A U.S. jury on Friday ordered Syngenta to pay US$217.7 million to more than 7,000 Kansas farmers over its decision to commercialize a genetically modified strain of corn before China approved importing it. The verdict by a federal jury in Kansas City, Kansas, was announced by lawyers for the farmers, who blamed the […] Read more
CBOT weekly outlook: Corn, soy set for major move on acres
CNS Canada — Corn futures on the Chicago Board of Trade could be set for a major move depending on what the U.S. Department of Agriculture reveals in next week’s acreage estimates, according to an analyst. “We’ll find out, did we really plant the 90 million (acres) or are we under?” said Scott Capinegro, president […] Read more
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