WINNIPEG, Manitoba, Dec 19 (Reuters) – The European Commission has approved Canadian canola for use in producing biodiesel in the European Union under its tougher environmental standard, the Canadian government said on Tuesday. The EU currently requires feedstocks used to produce biodiesel to emit 35 percent less greenhouse gases over their life cycle than fossil […] Read more
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European Commission approves Canadian canola for new biodiesel standard
Canola edges higher Tuesday on bargain buying
ICE Canada canola futures rose on Tuesday for just the second time in 10 sessions, on bargain-buying and a slowdown in technical selling. Higher Chicago soyoil prices added strength to canola. * January canola gained $2.60 to $493.80 per tonne. Most-active March canola rose $2.40 to $501.10. U.S. soybean futures fell for the ninth time […] Read more
Rapeseed to decline in EU as biofuel wanes, exports to boost wheat- report
PARIS, Dec 18 (Reuters) – Rapeseed will lose ground as a crop in the European Union in the next decade as biofuel demand wanes and other oilseeds capture more growth from edible oil and livestock feed markets, according to the EU’s executive forecast. Rapeseed is the most produced oilseed in the EU but its prospects […] Read more
Canola falls $10.10 per tonne on week on comfortable supply
ICE Canada canola futures edged higher on Friday, halting a seven-session skid on support from a weakening Canadian dollar. Canola’s slide began with a Dec. 6 Statistics Canada report that showed a much larger Canadian canola harvest than expected. January canola added $1 to close at $495 per tonne. Compared to the previous Friday, the […] Read more
Argentina rain dampens oilseed market Thursday
Expectations for improved soil moisture in Argentina with the forecast for weekend rain pressured oilseeds lower on Thursday. Soybeans were down a little more than one percent and canola fell a little less than one percent. The loonie has rallied back above US78 cents. Corn was basically unchanged and wheat rallied slightly on short covering […] Read more
Midwest lawmakers to consider biofuel proposals, but pledge to protect RFS
NEW YORK, Dec 13 (Reuters) – U.S. lawmakers from states that produce corn for ethanol plants said on Wednesday they would consider proposals from Senator Ted Cruz of Texas to help the oil refining industry cope with the nation’s biofuels regulation, but would never agree on anything that diminishes the program. The price of U.S. […] Read more
Strategie Grains sees stable EU wheat, durum crops in 2018, barley up
PARIS, Dec 14 (Reuters) – Farmers in the European Union will harvest about the same amount of soft wheat in 2018 as they did this year as higher projected yields compensate for a fall in area sown, consultancy Strategie Grains said on Thursday. Durum seeded area is expected to be the same year on year, […] Read more
La Niña likely lasts through winter
The forecast likelihood for weak or moderate La Niña conditions to persist through the Northern Hemisphere winter increased in a monthly U.S. government weather forecast update. The Climate Prediction Center (CPC), an agency of the National Weather Service, pegged the chance of La Nina persisting through the winter at about 80 percent, up from 65 […] Read more
Canola below $500 on technical weakness
Canola futures continued to slide on Wednesday but American crop futures edged higher on a round of short covering. The biggest market news of the day came from the Federal Reserve. As expected, it raised its interest rate by 25 basis points. Canola futures are under pressure as technical indicators are negative. And trading will […] Read more
Crop futures drift lower as USDA raises wheat, soy year end stocks
The USDA increased its forecast for U.S. year end stocks of soybeans and wheat due to disappointing pace of exports so far this crop year. Domestic corn ending stocks for 2017-18 were cut to 2.437 billion bu. from 2.487 billion bu. That was a little bullish for corn because analysts had expected corn ending stocks […] Read more
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