MarketsFarm — Not many major divergences can be seen between the U.S. Department of Agriculture’s data (USDA) on Argentina’s soybean crop and data from the department’s attaché in Buenos Aires. What may bring changes to the country’s soybean industry are tax increases imposed by the new federal government, according to Benjamin Boroughs, the USDA attaché. […] Read more
Argentine soybeans facing tax increases
Brazil to become top soybean producer, USDA says
MarketsFarm — Brazil is set to pass the United States as the world’s top producer of soybeans during the 2019-20 marketing year, according to a report from the U.S. Department of Agriculture (USDA). As soybean production in both countries has risen dramatically over the last 10 years, the U.S. continued to lead the world in […] Read more
ICE weekly outlook: Canola could break out of range
MarketsFarm — With canola now near the top end of its range, prices could break out of being rangebound in the next several days, according to an analyst. Canola has made gains over the last month or so, largely due to spillover from increasing prices for soyoil on the Chicago Board of Trade. Soyoil has […] Read more
Palm oil 101: Sought-after crop holds sway over oilseed trade
MarketsFarm — Palm oil may be grown halfway around the world in conditions much different than on the Canadian Prairies, but the outsized influence of the crop on world oilseed markets makes it an important factor to watch when considering canola prices. Indonesia and Malaysia are the world’s largest producers of the crop, with futures […] Read more
U.S. grains: Soy, corn, wheat rise for fourth straight day
Chicago | Reuters — U.S. soybean futures rose for the fourth session in a row on Tuesday, hitting their highest level since Nov. 8, following the soyoil market’s rally to its highest in nearly two years, traders said. Corn and wheat futures also extended their winning streaks as funds unwound bearish bets on hopes for […] Read more
ICE weekly outlook: Palm oil shortage leads to canola rally
MarketsFarm — As Malaysian palm oil continues to increase in price due a shortage, it has led to a rally in canola on ICE Futures, said Wayne Palmer of Exceed Grain in Winnipeg. The shortage stems from dry conditions in Indonesia and Malaysia, the world’s top two palm oil producers. While the dryness has been […] Read more
ICE weekly outlook: Canola waits on trade talks, USDA reports
ICE canola futures are quiet at the end of January, but could see some movement from outside influences in the coming weeks, according to Exceed Grain senior marketing analyst Wayne Palmer. “Everybody is waiting to see what’s going to happen with the Chinese/United States (trade) talks,” he said. Two days of high-level trade negotiations between […] Read more
ICE weekly outlook: Canola at mercy of U.S. soy
CNS Canada — The ICE canola market is currently at the mercy of the soybean market as it awaits this week’s G20 meeting between Chinese President Xi Jinping and U.S. President Donald Trump. “We’ve got the big pop in the soybeans in anticipation of some positive developments at this weekend’s G20 meetings… we are getting […] Read more
ICE weekly outlook: Soyoil, not weather, main influence on canola
CNS Canada — Wet and snowy weather now plaguing the Prairies isn’t to blame for the canola market’s recent upswing, according to one trader. “Canola’s been firm but it really hasn’t shown any reaction whatsoever to the weather; it’s going up because bean oil’s going up and it’s lagging the bean oil gains by quite […] Read more
Argentina’s grain exports halt in strike against Macri
Buenos Aires | Argentina — A strike called by Argentina’s largest trade union federation in protest over President Mauricio Macri’s market-friendly economic policies brought the country to a standstill on Monday, freezing grains exports and halting banking and public transit. The CGT umbrella labour union demanded wage hikes to keep up with inflation rates running […] Read more
Cyber-Savvy Farmer
