Chicago | Reuters — U.S. soybean futures dropped two per cent on Thursday, the steepest decline in 2-1/2 months, on profit-taking tied to lower veg oil prices and extended weather outlooks for rainfall in Argentina, traders and analysts said. U.S. President-elect Donald Trump’s nomination of Oklahoma Attorney General Scott Pruitt to run the nation’s Environmental […] Read more
U.S. grains: Soybeans down on profit-taking before USDA data
ICE weekly outlook: ‘Toppy’ canola could still go higher
CNS Canada — Canola futures have trended higher in the most active nearby contracts in recent weeks, but still remain underpriced compared to soybeans. From a chart perspective, ICE Futures Canada’s January contract is trading at the highest levels for the front month in two and a half years. However, while “the charts may be […] Read more
CBOT weekly outlook: Technicals trump recent support in soy
CNS Canada — Soybean futures at the Chicago Board of Trade look technically bearish, one U.S. analyst says, but spec-longs may keep support in the market. Corn futures, meanwhile, are expected to continue in a rangebound trend. “Corn is still basically in a trading range; it doesn’t excite people. Beans, they’re all over the place,” […] Read more
ICE weekly outlook: Traders look to StatsCan, U.S. veg oil
CNS Canada — With questions about the size of Western Canada’s canola crop remaining, ICE Futures Canada traders are looking to an upcoming Statistics Canada report for indications on where to move next. Sharp advances in the Chicago Board of Trade soyoil market underpinned canola on the week, and investors are waiting to see if […] Read more
CBOT weekly outlook: Soy, corn still rangebound despite recent gains
CNS Canada — Soybean and corn futures at the Chicago Board of Trade moved higher during the week ended Wednesday, but have little fundamental reason to continue in that direction, according to an analyst. Looking at corn, that market will be stuck in a sideways trading range for the foreseeable future, according to Preston Zacharias, […] Read more
U.S. grains: Soyoil jumps on new U.S. biofuel targets
Chicago | Reuters — Chicago Board of Trade soyoil futures surged nearly seven per cent on Wednesday after the U.S. government released final requirements for biofuel use for next year, analysts said. The strength in soyoil lifted soybeans, but CBOT wheat closed lower and corn was narrowly mixed, pressured by a stronger U.S. dollar and […] Read more
U.S. ups biofuel requirements in win for Big Corn
New York | Reuters — The U.S. government on Wednesday announced finalized targets for biofuel use for next year, requiring that energy companies blend 19.28 billion gallons of renewables into the nation’s fuel supply. The Environmental Protection Agency (EPA) in a statement set the target for conventional biofuel, or ethanol, at 15 billion gallons and […] Read more
U.S. agency seeks proof of criminal use of dicamba
Chicago | Reuters — The U.S. Environmental Protection Agency executed search warrants in parts of southeastern Missouri earlier this month to look for signs of improper use of the herbicide dicamba, the agency said on Tuesday. The searches stemmed from complaints that dicamba, which has only been approved for application on fields before planting season […] Read more
U.S. EPA says glyphosate likely not carcinogenic
Chicago | Reuters — The U.S. Environmental Protection Agency on Friday said its current position on glyphosate, the key ingredient in Monsanto’s Roundup herbicide, is that the chemical is not likely carcinogenic to humans. The agency’s “proposed” position on the controversial chemical was outlined in a 227-page paper it published on the regulations.gov website, which […] Read more
U.S. EPA draft report calls out atrazine for risk to animals
Chicago | Reuters — One of the most popular herbicides in U.S. agriculture can be dangerous to animals and fish and leaves behind worrisome residue levels, the U.S. Environmental Protection Agency said on Thursday in a draft report that sparked outrage among farmers. The agency’s assessment of atrazine could lead to tighter regulatory limits on […] Read more
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