GFM Network News

U.S. grains: Corn, soy futures extend gains on China demand

CBOT September wheat eases

Reading Time: 2 minutes Chicago | Reuters — U.S. soybean and corn futures rose on Friday, with soybeans hitting a one-week top as a pick-up in export demand for both crops, primarily from China, sparked speculative buying and short-covering, analysts said. Soybeans got an additional boost from surging palm and soyoil futures. But forecasts for beneficial rains in the […] Read more

ICE weekly outlook: Canola nearing resistance

Reading Time: < 1 minute MarketsFarm — ICE Futures canola contracts have trended higher over the past month, but may be nearing the upper end of their nearby range. Solid demand, from both exporters and domestic crushers, has kept canola well supported, while a firmer tone in world energy and vegetable oil markets should also add some upside momentum, according […] Read more

Bunge profit tops estimates on South American results

Reading Time: 2 minutes Chicago | Reuters — Agricultural commodities trader Bunge reported a stronger-than-expected quarterly profit on Wednesday as rising crop prices boosted farmer sales in South America and swelled margins in its large agribusiness segment, sending shares up more than three per cent in pre-market trading. But uncertainty about global trade and demand for Bunge’s food and […] Read more

ICE weekly outlook: Canola gives back gains at midweek

Reading Time: < 1 minute MarketsFarm — Canola was bolstered by strong trade activity and profit-taking at midweek, though values remained rangebound. As of Wednesday, 144,500 canola contracts had traded hands, with the most activity concentrated in the January/March contracts. Spreading accounted for 124,790 contracts traded, which is about 86 per cent of the activity. Keith Ferley of RBC Dominion […] Read more

ICE weekly outlook: Weak export data holds back canola market

Reading Time: 2 minutes The Canadian dollar and vegetable oil are the main supports for canola contracts on the futures markets, but sluggish exports are holding it back from further gains, said a market analyst. Other than being down on Monday, canola has finished up in five of its last six sessions, according to Pro Farmer Canada’s Mike Jubinville. […] Read more

Richardson to buy Wesson cooking oil brand

Reading Time: 2 minutes A household name in U.S. cooking oils is set to become part of Canadian grain handler and oilseed processor Richardson International. Chicago-based Conagra Brands said Tuesday it will sell its Wesson oil brand and related assets — including a 280,000-square foot U.S. processing plant at Memphis — to Richardson for an undisclosed sum. Wesson-branded retail […] Read more

ICE weekly outlook: Canola awaits acreage report

Reading Time: < 1 minute CNS Canada — This week’s acreage estimates from Statistics Canada could bring an end to canola’s recent chart surge upward — or could give futures the impetus to move even higher. The dominant July contract closed Wednesday at $535 per tonne, a gain of $8 from the previous Wednesday’s close. Prairie farmers on Friday will […] Read more