CNS Canada — ICE Futures Canada canola contracts moved higher over the past week, but may be running into resistance to the upside. “I’m sensing that canola is at the top end of the range,” said Errol Anderson of ProMarket Communications in Calgary, noting much of the recent strength was tied to advances in Chicago […] Read more
ICE weekly outlook: Canola hits resistance
ICE weekly outlook: Rain in Argentina could provide direction
CNS Canada — ICE Futures Canada canola contracts finally broke through the psychologically-important $500 per tonne mark during the week ended Wednesday. That could be a fleeting achievement, however, depending on the chances for rainfall in Argentina and the next U.S. Department of Agriculture report. “If rain comes, soybeans could go down to US$9.60 a […] Read more
With sorghum warning shot, Beijing targets Trump’s core farm base
Beijing | Reuters — In launching a probe into U.S. sorghum imports, China has fired a warning shot across its top trading partner’s bow that shows farmers in states that voted for U.S. President Donald Trump may be Beijing’s top retaliatory target in the event of a trade war. On Sunday, the Ministry of Commerce […] Read more
COPA ends weekly canola, soybean crush reports
CNS Canada — The Canadian Oilseed Processors Association (COPA) announced Friday it will stop publishing its weekly report on member crushings. The report detailed how much canola and soybeans were crushed in Canada. The report was issued weekly and followed by different industry professionals across the country. Ken Ball of PI Financial in Winnipeg was […] Read more
ICE weekly outlook: Sideways canola seeks spark
CNS Canada — ICE Futures Canada canola contracts remain stuck within a sideways trading range awaiting a spark that would push values one way or the other. “We could have had this conversation two months ago… canola is refusing to budge from a range,” analyst Mike Jubinville of ProFarmer Canada said of the lack of […] Read more
U.S. soy cargo to China traded using blockchain
London | Reuters — A cargo of U.S. soybeans shipped to China has become the first fully-fledged agricultural trade conducted using blockchain, participants said Monday. Louis Dreyfus, Shandong Bohi Industry Co., ING, Societe Generale and ABN Amro took part in the trade where the sales contract, letter of credit and certificates were digitalized on the […] Read more
Cargill to expand western Manitoba elevator
Agrifood firm Cargill expects to provide more marketing opportunities for western Manitoba growers — particularly of soybeans — with a major elevator expansion. The U.S. company’s Winnipeg-based Canadian arm on Thursday announced it will put up $15 million to add 9,000 tonnes of storage capacity to its 13,500-tonne capacity elevator at Oakner, Man., about 70 […] Read more
Brazil’s 2017/18 soybean crop seen second-biggest in history
Sao Paulo | Reuters – Benefited by good weather, Brazil’s 2017/18 soybean crop, which farmers are now beginning to harvest, is expected to surpass 110 million tonnes, the second-largest in history, according to the average of 11 forecasts in a Reuters poll on Friday. Farmers here are likely to collect 110.19 million tonnes of the […] Read more
Argentina begins phasing in cuts to soybean export tax
Buenos Aires | Reuters – Argentina has cut its soybean export tax to 29.5 percent from a previous 30 percent, the first step in a plan to gradually reduce the levy to 18 percent over two years, the agriculture ministry said in a statement on Tuesday. The plan will see the tax cut by one […] Read more
Wheat storage a winner, says analyst
Winnipeg | CNS – As yields grow throughout North America and the physical size of the crop becomes larger, farmers who invest in storage bins now, stand to reap the rewards later. “Guys with space are winning,” said Kurt Ahrens, founder of Grainbot in Omaha, Nebraska. Speaking at the Grain World Conference in Winnipeg, he […] Read more