CNS Canada — It’s a wait-and-see game for traders who deal in corn and soybeans on the Chicago Board of Trade (CBOT). “It looks like we’re going to be concerned a lot about what happens with our friends from China here in the short term,” said Jack Scoville, of Price Futures Group in Chicago, on […] Read more
CBOT weekly outlook: Soy market waiting on trade war
ICE weekly outlook: Canola to face pressure from northbound U.S. soy
CNS Canada — As Friday’s deadline nears for Chinese tariffs to be imposed on imports of U.S. soybeans, so too does the idea that eastern crushers could soon be bringing those unwanted beans into Canada. “Soybeans have become so cheap we’re going to find them leaking across the border, especially into Ontario,” said Mike Jubinville […] Read more
Brazil judge orders Monsanto to deposit royalties related to GMO seed
Sao Paulo | Reuters — A Brazilian judge has ordered local units of Monsanto to put royalties related to a GMO soy seed technology in an escrow account, in a decision likely to hinder the U.S. seed company’s ability to collect royalties from the business. The July 3 ruling relates to a patent dispute between […] Read more
CBOT weekly outlook: Soybeans should benefit as China lifts tariffs
CNS Canada — The $9 a bushel mark seems like a distant memory for soybeans as import tariffs between China and the U.S. continue to sap buying interest in the crop. China buys roughly 60 per cent of the United States’ annual soy exports — and there’s no telling when or how that shortfall will […] Read more
China drops import tariffs on feed ingredients from Asian neighbours
Beijing | Reuters — China on Tuesday said it would remove import tariffs on animal feed ingredients including soybeans from five Asian neighbours, in a sign that Beijing wants to boost foreign supplies of the commodities as a trade dispute with the U.S. escalates. The Ministry of Finance said it would drop tariffs on soybeans, […] Read more
Argentina’s grain exports halt in strike against Macri
Buenos Aires | Argentina — A strike called by Argentina’s largest trade union federation in protest over President Mauricio Macri’s market-friendly economic policies brought the country to a standstill on Monday, freezing grains exports and halting banking and public transit. The CGT umbrella labour union demanded wage hikes to keep up with inflation rates running […] Read more
CBOT weekly outlook: Tariff spats put markets in precarious spot
CNS Canada — The Chicago Board of Trade soybean market is in recovery mode following a wild day where contracts hit nearly a 10-year low. “It was one of the craziest days we’ve seen in recent memory yesterday. And volume was just absolutely through the roof,” said Terry Reilly, a senior commodity analyst with Futures […] Read more
U.S. soybeans stay on China’s retaliation list for Trump tariffs
Washington/Beijing | Reuters — U.S. President Donald Trump said he was pushing ahead with hefty tariffs on US$50 billion of Chinese imports on Friday, and the smoldering trade war between the world’s two largest economies showed signs of igniting as Beijing immediately vowed to respond in kind. Trump laid out a list of more than […] Read more
CBOT weekly outlook: Corn, soybeans try to halt slide
CNS Canada — The future looks hot and dusty for corn and soybeans in the U.S. Midwest and central Plains over the next week or so. While crops in the U.S. are generally off to a good start so far this year, the heat could still bring some much-needed support to both commodities. The July […] Read more
CBOT weekly outlook: U.S./China trade uncertainty weighs on soy
CNS Canada — Trade uncertainty between China and the U.S., along with good U.S. growing conditions, is pressuring the soybean market on the Chicago Board of Trade (CBOT). During the week ended Wednesday, the July CBOT soybean contract dropped about 30 cents to $9.9425 per bushel (all figures US$). “The trade uncertainty is a major […] Read more
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