MarketsFarm — Statistics Canada reported very sizeable increases in the July canola crush when compared to a year ago. In fact, the month’s crush was not only a record for July but also for any month. Meanwhile, StatCan found the July soybean crush was slightly lower than in July 2022. The federal agency pegged the […] Read more
July canola crush sets new records
Soybean crush down slightly from last July
ICE weekly: Canola regains strength after days of declines
MarketsFarm — After a losing string of four straight sessions, the ICE Futures March canola contract regained some strength on Wednesday. Limited and choppy trading in nearby soybean contracts had pulled down canola for most of the week, according to Winnipeg-based independent trader Jerry Klassen. “When the March got up to $868-$870 (per tonne)… there […] Read more
ICE weekly outlook: Canola still rangebound but upside possible
Crush margins expected to stay high for now
MarketsFarm — The ICE Futures canola market traded within a certain range for the week ended Wednesday, but one trader believes that wide crush margins will take prices over the psychological resistance level. Since nearly hitting the $900 per tonne mark on Nov. 15, the January canola contract declined for eight straight sessions before going […] Read more
Pulse weekly outlook: Benchmark report out for fababeans, feed peas
MarketsFarm — Alberta Pulse Growers on Monday released Feed Benchmark Bi-Weekly Reports, providing “a consistent and unbiased estimate of the feeding value of low-tannin fababeans and feed peas” in central Alberta, central Saskatchewan and southern Manitoba. Comparing fababean and feed pea prices to other feed grains, the report stated, “Grains are softening further on the […] Read more
World crop briefs: China seeks cuts to soy in feed
CNS Canada — The China Feed Industry Association is proposing soybean meal in hog rations be reduced, to offset rising costs and reduced supplies caused by the U.S.-China trade war. China imported about 87 per cent of its soybean needs last year and one-third of that came from the U.S., according to a report in […] Read more
U.S. grains: Wheat lower on technicals, better weather
Chicago | Reuters — U.S. wheat futures fell to a one-week low on Monday on technical selling and an improving weather outlook, including beneficial moisture in parts of the Midwest winter wheat belt, analysts said. Soybean futures set a two-week low on forecasts for much-needed moisture in parts of Argentina, and corn sagged as well. […] Read more
First U.S. trader convicted of spoofing sentenced to jail
Chicago | Reuters — A U.S. judge sentenced futures trader Michael Coscia to three years in prison on Wednesday, a lighter punishment than prosecutors had sought for the first person criminally convicted of the manipulative trading practice of spoofing. Coscia also was sentenced to two years of supervised release from jail, in a case that […] Read more
U.S. grains: Hefty supply pushes soy to 10-week low
Chicago | Reuters — U.S. soybean futures fell on Friday, with the nearby contract touching its lowest level in more than 10 weeks, under pressure from hefty global supplies, while soybean meal futures approached a six-year low. Expanding inventories and concerns about sluggish demand also pushed front-month corn futures to their lowest price in more […] Read more
Philippines to challenge court-ordered GMO import ban
Manila | Reuters — The Philippine government said it will challenge a ban on GMO imports ordered by the country’s top court, after the ruling rattled global markets this week over the threat of disruption to millions of tonnes of soybean meal shipments. Last week, the Supreme Court struck down a 2002 government regulation that […] Read more
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