Reading Time: 2 minutes CNS Canada — Weak exports and improving growing conditions in South America are casting a bearish tint over near-future prospects for corn and soybeans. One market analyst in Illinois noted the corn market was also extremely oversold. “A good technical close for December corn this week would be over $3.36” a bushel, said Scott Capinegro, […] Read more
CBOT weekly outlook: Rangebound corn, soy watch South America, exports
Ontario to back baby formula plant
Reading Time: 2 minutes A baby formula plant proposed for eastern Ontario has got a major boost from the Ontario government. The $225 million plant is being built at Kingston by Canada Royal Milk ULC, a subsidiary of Chinese company Feihe International. The Ontario government has committed up to $24 million to the project, which will export baby formula […] Read more
China to subsidize grain transportation, storage
Reading Time: < 1 minute Beijing | Reuters — China plans to subsidize grain transportation and storage facilities in the latest push by Beijing to modernize the world’s largest agriculture sector. Beijing will subsidize projects upgrading or building facilities to load and receive grains along main railways and ports for major waterways including the Yangtze and Pearl rivers, a document […] Read more
Canadian flax prospects dimmed by China’s silk road
Reading Time: 2 minutes Winnipeg | CNS – China’s construction of a new “silk road” connecting the country to Europe isn’t likely to be good news for Canadian flax exporters. For several years, Canada has been the main exporter of flax to China but that could likely change if Kazakhstan ever has a direct link to the China. “We […] Read more
Chinese protein preference becoming big obstacle for canola
Reading Time: 2 minutes Winnipeg | CNS Canada — As China’s consumption of higher-protein foods continues to grow, so too does its selectiveness for which oilseeds it will pursue on the open market. So far, it’s a race canola does not seem to be winning. “The big demand factor in China is protein, rather than vegetable oil,” said Felix […] Read more
China’s Cofco seeks larger Canadian canola volumes
Reading Time: < 1 minute Winnipeg | Reuters — State-owned Chinese agribusiness Cofco Corp. looks to buy 2.5 million tonnes of Canada’s canola crop next year, a boost of more than one-third over its expected purchases this year as its Canadian office gets established, said the company’s global head of softseeds on Wednesday. Cofco opened its Canadian trading office in […] Read more
U.S. grains: Soybeans climb on seasonal strength, bullish soyoil data
Reading Time: 2 minutes Chicago | Reuters — U.S. soybean futures firmed on Wednesday on seasonal strength as the Midwest harvest wound down and a jump in soyoil tied to an unexpected monthly drawdown in domestic supplies, traders said. Chicago Board of Trade wheat futures fell nearly two per cent, nearing contract lows, in a technical sell-off. Corn futures […] Read more
MacAulay to visit China on trade mission to boost food exports
Reading Time: < 1 minute Agriculture and Agri-Food Minister, Lawrence MacAulay, will lead a trade mission next week to China as part of Canada’s efforts to double bilateral trade with that country and grow global agri-food exports to $75 billion by 2025. A news release distributed on Nov. 9, said, “with a population of 1.4 billion people, and a growing appetite for high-quality Canadian food products, […] Read more
ADM, Cargill still pursue Syngenta over corn rejections
Reading Time: 2 minutes Chicago | Reuters — Syngenta moved closer to putting a troubled biotech corn seed launch behind it with a US$1.5 billion settlement with farmers this week, but grain traders who filed two remaining lawsuits may be less ready to compromise, legal experts said. The company was sued three years ago by the farmers and traders […] Read more
Syngenta agrees to settle GMO corn litigation
Reading Time: 2 minutes Reuters — Syngenta has agreed to pay close to US$1.5 billion to resolve lawsuits stemming from its decision to commercialize a genetically modified strain of corn before China approved importing it, a person familiar with the matter said on Tuesday. The Swiss company confirmed that it has reached a settlement, without confirming the financial terms. […] Read more
A message from April Stewart, Country Guide's Associate Editor
