U.S. Senate Republicans on Monday proposed a tax bill that would extend a clean fuel tax credit through 2031, but trim 20 per cent of the value of the credit for biofuels made from feedstocks produced outside of the United States.
U.S. Senate bill would shrink tax credit for biofuels made from foreign feedstocks
Canola sector sees tariff pain ahead
Industry groups pledge robust advocacy efforts on both sides of the border
Canada's two main canola sector groups say U.S. tariffs will be felt throughout the value chain, on both sides of the border.
ICE Weekly: ‘Soyoil scare’ fuels canola’s comeback
While the November contract fell below C$600 per tonne on June 26 for the first time since late February, it has since gained more than C$50 to close at C$652.70 on July 3. Earlier that day, the contract reached C$659.70, its highest level since June 7.
ICE Canada Weekly: Canola set to rise, but not a sure thing
After incurring sharp losses on Tuesday and Wednesday, canola futures on the Intercontinental Exchange were poised for a turnaround to swing higher. MarketsFarm analyst Mike Jubinville suggested that cash prices on the Canadian Prairies should soon return to C$14 per bushel and maybe push as high as C$15.
Funds back adding to shorts in canola after month of covering
Corn traders were on the other side of the market
After a month of covering short positions, fund traders were back adding to their bearish bets to start December, with the net short position in the oilseed growing by roughly 13,000 contracts, according to the latest Commitments of Traders report from the United States Commodity Futures Trading Commission (CFTC).
China accounting for bulk of Canadian canola exports so far
Chinese wheat imports roughly half of last years' at same time
China has done most of the heavy lifting when it comes to Canadian canola exports through the first three months of the 2023/24 marketing year (Aug/Jul), according to the latest international trade data released Dec. 6.
Statistics Canada reported canola exports through October at 1.566 million tonnes, with China accounting for 64 per cent of the total (1.006 million tonnes). Japan and Mexico followed at 273,300 tonnes and 196,900 tonnes respectively.
Canola dockage agreement with China expires, but limited exports to continue
Most remaining shipments meet Beijing's requirement
Exports of Canadian canola seed exports to China will continue, at the same reduced pace seen since March last year — but only if it contains less than one per cent dockage. A memorandum of understanding (MOU) between the two countries allowing higher dockage ends Tuesday (March 31), a Canadian government official said in an […] Read more
Canada, China both ‘furious’ over Huawei row, envoy says
Ottawa | Reuters — Canada and China are both “furious” over the case of a Huawei executive detained in Canada in 2018 and its aftermath, but there are signs the two sides can hold constructive talks, the Canadian ambassador to Beijing said Wednesday. Canadian police picked up Huawei Technologies chief financial officer Meng Wanzhou on […] Read more
Visible canola supplies largest in three years
MarketsFarm — Solid farmer deliveries into the commercial pipeline saw visible Canadian canola supplies hit their highest level in three years, according to the latest Canadian Grain Commission (CGC) data for the week ended Sunday. Total visible supplies of the oilseed came in at 1.584 million tonnes, which was the highest of the marketing year-to-date […] Read more
Trudeau optimistic about making progress to end China canola ban
Ottawa/Chicago | Reuters — Canada is optimistic it can make progress this year in talks to persuade China to allow imports of Canadian canola seed to resume, Prime Minister Justin Trudeau said on Friday, even as tensions between Ottawa and Beijing reach new highs. Trudeau spoke hours after an industry group said Chinese importers had […] Read more
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