CNS Canada — Even though news out of Beijing regarding the trade talks between the U.S. and China were reported as ending on a positive note Wednesday morning, one broker watching the Chicago Board of Trade didn’t see it having much effect on commodities. “The only thing that would be a real positive announcement would […] Read more
CBOT weekly outlook: Trade news having little effect
Assure herbicide’s active ingredient under new ownership
Now being put to work in Enlist corn, the active ingredient in Assure II herbicide has a new owner. California-based American Vanguard Corp., the owner of ag chemical producer Amvac Chemical, announced Thursday it has bought the quizalofop-p-ethyl (QPE) product line of herbicides from DowDuPont’s ag division, Corteva Agriscience, for an undisclosed sum. A Group […] Read more
CBOT weekly outlook: Soybeans wait on China news
CNS Canada — Soybean futures at the Chicago Board of Trade started 2019 on a firm note, bouncing higher on rumours of fresh Chinese buying interest. However, with the U.S. government still in partial shutdown mode, confirmation of that business was lacking and additional advances remain questionable. “We’re basically buying the rumour at this point,” […] Read more
CBOT weekly outlook: Higher prices don’t jibe with corn, soy production
CNS Canada — Trade is starting to slow down for the holiday season at the Chicago Board of Trade, which has corn and soybean traders looking at the larger picture. Scott Capinegro, a broker with Barrington Commodities at Barrington, Ill., believes prices for corn and soybeans are currently too high. “(The world) continues to plant, […] Read more
Richardson to buy Wesson cooking oil brand
A household name in U.S. cooking oils is set to become part of Canadian grain handler and oilseed processor Richardson International. Chicago-based Conagra Brands said Tuesday it will sell its Wesson oil brand and related assets — including a 280,000-square foot U.S. processing plant at Memphis — to Richardson for an undisclosed sum. Wesson-branded retail […] Read more
U.S. confirms China soybean purchase, but no clarity over more sales
Chicago/Washington | Reuters — U.S. government officials on Thursday hailed China’s first meager purchase of U.S. soybeans since its trade war with the United States began in July and said they hoped for, but could not guarantee, more to come. The U.S. Department of Agriculture (USDA) announced private sales of 1.13 million tonnes of U.S. […] Read more
CBOT weekly outlook: Soybeans trend up, but trade off headlines
CNS Canada — Speculative short-covering and optimism over trade with China helped soybean and corn futures at the Chicago Board of Trade move higher over the week ended Wednesday. While additional gains are possible, both markets will take more short-term direction from the day-to-day headlines. Conflicting headlines, tweets and other commentary lead to a choppy […] Read more
CBOT weekly outlook: Soy left hanging on changing trade truce views
CNS Canada — The initial positive outlook U.S. futures markets had toward a 90-day truce in the U.S.-China trade war is fading, leaving traders with opposing views on where Chicago soybeans are heading. In an effort to resolve their countries’ trade war, U.S. President Donald Trump and Chinese President Xi Jinping agreed to the truce […] Read more
China’s action on tariffs uncertain, USDA’s Perdue says
Chicago | Reuters — China will probably resume buying U.S. soybeans around Jan. 1 because of limited supplies in South America, after halting purchases due to the trade war between Washington and Beijing, U.S. Agriculture Secretary Sonny Perdue said on Monday. However, it has “yet to be determined” whether China will remove tariffs on imports […] Read more
CBOT weekly outlook: Volatile markets await G20 meeting
CNS Canada — Chicago soybean and corn markets are expected to remain volatile over the next few days, ahead of the G20 summit in Argentina, said one commodities expert. That volatility is fueled by a much-talked-about meeting between U.S. President Donald Trump and Chinese President Xi Jinping scheduled for Saturday. “What is going to be […] Read more
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