Speculators were back adding to their large net short position in canola to start 2024, taking the bearish bet to a new record, according to the latest Commitments of Traders report from the United States Commodity Futures Trading Commission (CFTC).
Speculative short position hits new record in canola
Soybeans hit largest net short position since March 2020
IGC raises wheat, corn, cuts soybeans
IGC upped projected total grain ending stocks to 590.2 million tonnes
As the world’s supply of grain for 2023/24 was increased to 2.307 billion tonnes, the International Grain Council bumped its projections for wheat and corn, while trimming those for soybeans.
Argentina farm exports halved in 2023
Reading Time: < 1 minute Argentine farm exports totalled about US$19.7 billion in 2023, data from the country’s major oilseeds crushing and export body show. That is a 51 per cent drop from the previous year, largely because bad weather reduced agricultural output. December data from industry body CIARA-CEC showed in a monthly report that companies in the sector exported […] Read more
StoneX slashes Brazil soy outlook
Reading Time: 2 minutes Agribusiness consultancy StoneX on Jan. 2 cut its estimate for Brazil’s soybean crop in 2023-24 due to lack of rain in key farmlands. It now forecasts a 152.8 million tonne harvest, down from its previous estimate of 161.9 million tonnes. The cut means StoneX no longer forecasts a record crop in Brazil, the world’s largest […] Read more
USDA Brazil attaché cuts soybean projections for 2023/24
Several firms have dropped Brazil soybean projections on seeding delays, weather
With Brazil having faced opposing weather extremes, there’s little surprise the United States Department of Agriculture attaché cut their soybean production estimate for 2023/24. The Brasilia desk reduced its call from a record 162 million tonnes to 158.5 million in its latest report.
Brazil’s soybean harvest kicks off with low yields in Mato Grosso
Crops suffered from lack of humidity; now rains are hampering harvest in some areas
Brazilian soybean farmers have begun to reap their 2023/24 soybean crop, covering some 0.6 per cent of the national planted area as of last Thursday, agribusiness consultancy AgRural said on Monday.
ICE weekly outlook: More room to the downside for canola
Vegetable oil markets also became weaker
Even though selling activity for canola could be slowing down, according to an analyst, there are too many bearish indicators to predict a boost to prices.
USDA November soy crush estimated at 199.7 million bushels
The U.S. crush topped 200 million bushels in October for the first time ever
The U.S. soybean crush likely eased slightly to 5.991 million short tons in November, or 199.7 million bushels, while soyoil stocks rose, according to analysts surveyed by Reuters ahead of a monthly U.S. Department of Agriculture (USDA) report.
Where are public sector gene editing projects?
Regulatory differences and lack of funding constrain gene editing in academic research
Reading Time: 4 minutes Glacier FarmMedia – In 2022, Health Canada and Agriculture and Agri-Food Canada announced that crop varieties developed with gene editing technology will not be subject to the same regulatory requirements as genetically modified organisms. Though many within the agriculture industry praised the decision as a win for crop breeders, and Canadians more generally, some academic […] Read more
ICE weekly outlook: No reason for strong rally in canola
Canola likely to pull back once trading gets back into full swing in New Year
There were strong gains for canola on the Intercontinental Exchange on Dec. 27, as trading resumed after being closed for Christmas and Boxing Day. However, the gain will likely not be the prelude to a major upswing in the oilseed’s prices. Rather, canola is likely to pull back once trading gets back into full swing after the New Year, according to analyst Bruce Burnett of MarketsFarm.
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