Photo: Greg Berg

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

Reading Time: 2 minutes 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.



Photo: Thinkstock

China approves seed firms for GMO corn and soybeans

The world's biggest buyer of soybeans and corn wants to reduce its reliance on imports

Reading Time: 2 minutes China has approved a first batch of seed companies to breed and sell genetically modified corn and soybean seeds, paving the way for commercial planting of GMO grains in a move that could cut its reliance on imports from the U.S. and Brazil.



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US reopens key rail crossings between Texas and Mexico

American, Mexican agriculture groups express relief

Reading Time: 2 minutes U.S. Customs and Border Protection (CBP) said operations resumed at 2 p.m. ET at the international railway crossing bridges in Eagle Pass and El Paso, Texas. The closures had prompted alarm from railroads, the agriculture industry and some lawmakers over the economic impact to halted export trade.