Reading Time: < 1 minute Beijing | Reuters — China will increase its efforts to boost output of soybeans and edible oils, state media reported on Monday, citing a key rural policy document, as it continues to push for greater self-sufficiency in its key food supplies. The world’s top soybean buyer is trying to lower its heavy reliance on imports […] Read more
China to plant more soy, speed up GMOs to ensure food supply
Beijing reiterates goals to increase soy acres, intercrop with corn
ICE weekly outlook: March canola unchanged from last week
Loonie's relative strength seen as drag on values
Reading Time: < 1 minute MarketsFarm — The ICE Futures canola market was once again trading rangebound for the week ended Wednesday, as the March contract was left unchanged from one week earlier at $828.20. The contract oscillated between a range of $819.40 and $837 per tonne during the week, all the while seemingly immune from larger price ranges seen […] Read more
ICE weekly outlook: Choppy trading for canola, other oilseeds
Signals not pointing to course change for now
Reading Time: < 1 minute MarketsFarm — Expect canola and other oilseed markets to remain choppy for the time being, according to trader Ken Ball of PI Financial in Winnipeg. “All of the markets are very choppy and erratic. They’re very nervous markets,” Ball emphasized, noting war in Ukraine and drought in Argentina are having some of the biggest impacts […] Read more
Commodity merchant Louis Dreyfus creates food solutions unit
Company to draw on existing oilseeds processing portfolio
Reading Time: < 1 minute Paris | Reuters — Agricultural commodity merchant Louis Dreyfus Co. (LDC) has created a food and feed solutions business line as part of efforts to diversify its activities in step with consumer trends, the company said on Tuesday. The new unit will focus on developing LDC’s presence in the lecithin, glycerine and specialty feed protein […] Read more
CBOT weekly outlook: Soy futures find support, but upside limited
Corn activity mainly bearish
Reading Time: < 1 minute MarketsFarm — Solid export demand, a short squeeze by fund traders and production uncertainty in South America have all propped up Chicago soybean futures over the past week, with more gains possible ahead of the year-end before correcting lower, according to an analyst. With the South American harvest still some time away, “you might have […] Read more
ICE weekly outlook: Canola’s sideways market nears low end of range
January down last six sessions
Reading Time: < 1 minute MarketsFarm — ICE Futures canola contracts slid lower during the week ended Wednesday but remain stuck in a sideways trading range overall. The January contract has held within a range from $800 to $900 per tonne for the past five months, with the market still well within that range despite losing over $50 per tonne […] Read more
Black Sea grain export deal extended
Deal's terms unchanged; Moscow to still seek removal of obstacles to grain, fertilizer exports
Reading Time: 3 minutes Reuters — A deal aimed at easing global food shortages by helping Ukraine export its agricultural products from Black Sea ports was extended for four months on Thursday, though Russia said its own demands were yet to be fully addressed. The agreement, initially reached in July, created a protected transit corridor and was designed to […] Read more
ICE weekly outlook: Premium showing in front-month canola
'Surge' of farmer selling expected in January
Reading Time: < 1 minute MarketsFarm — The ICE Futures canola market held rangebound during the week ended Nov. 16, with the widening premium of the nearby January contract over the March futures seen as a sign of good nearby demand. ICE January canola settled Wednesday at $882.40 per tonne, a $10.50 per tonne premium over the March contract. That […] Read more
Reasons for optimism seen on renewal for Ukraine grain deal
Deal set to roll over on Saturday
Reading Time: 2 minutes Reuters — A United Nations source on Wednesday said they have reasons to be “cautiously optimistic” on the renewal of a Black Sea grains export agreement, which is set to roll over on Saturday unless there are objections. The U.N.-backed agreement on July 22 allowed grain shipments to resume from certain Ukrainian ports on the […] Read more
ICE weekly outlook: Trader sees canola topping $900 mark soon
Crush margins at 'very, very extreme levels'
Reading Time: 2 minutes MarketsFarm — Despite surpassing the $900 per tonne mark at times during the week ended Wednesday, ICE Futures’ January canola contract never settled above that psychological level. Rising prices prior to the weekend later gave away to selling pressure after the weekend due to a correction in vegetable oil prices, according to broker Ken Ball […] Read more
A message from April Stewart, Country Guide's Associate Editor
