WINNIPEG, Man., (Reuters) – ICE canola futures tumbled on Friday to a nearly three-month low, reflecting a continued plunge of its fellow oilseeds, soyoil and palm. Fears that the spread of coronavirus could lead to a global slowdown have weakened commodities. March canola lost $5.90 to $450.50 per tonne. The contract fell as low as $450.10, the lowest nearby […] Read more
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Canola drops to nearly three-month low
China’s biggest potash producer risks delisting amid 3rd annual loss forecast
SHANGHAI, (Reuters) – China’s Qinghai Salt Lake Potash Co Ltd, the country’s largest producer of potash, has forecast its third consecutive annual loss, an outcome that could result in the company’s delisting from the Shenzhen Stock Exchange. In a stock exchange filing on Saturday, the state-owned firm forecast an operating loss for the fiscal year […] Read more
Canola futures end down on U.S. soy weakness, long liquidation
(Reuters) – ICE canola futures fell more than one percent on Wednesday on spillover weakness from allied U.S. soy futures along with long liquidation by speculators and lackluster export demand, traders said. A firmer Canadian dollar added to bearish sentiment, making Canadian products less competitive on the global market. January canola settled down $5.30 at $453.50 per tonne, while […] Read more
From phone makers to farmers, the toll of Trump’s trade wars
(Reuters) – U.S. President Donald Trump on Thursday said he would impose a 10 percent tariff on the remaining $300 billion of Chinese imports as tensions with China spiked again, the latest salvo in a yearlong trade war between the world’s two largest economies. The levies, due to begin on Sept. 1, would hit a […] Read more
ICE canola futures rise on short covering, halt skid
Manitoba (Reuters) – ICE canola futures rose on Friday, halting a four-day skid on short-covering and strength in soyoil. Funds covered part of their short position after the November contract bounced off the support level of $440 on Thursday, a trader said. Lack of export demand, with China not buying Canadian canola, overhangs the market, […] Read more
Energy prices, trade tensions weigh on Canada producer prices
OTTAWA – Canadian producer prices fell by 1.4 percent in June, the biggest decline in nearly two years, on lower prices for energy and petroleum goods, Statistics Canada data showed on Wednesday. Analysts in a Reuters poll had predicted a decline of 0.1 percent in June following an initially reported boost of 0.1 percent in […] Read more
IGC cuts forecasts for 2019/2020 world wheat, corn crops
LONDON, (Reuters) – The International Grains Council (IGC) cut its forecast on Thursday for world wheat production in the 2019/2020 season, reflecting diminished crop outlooks in Russia, the European Union and Canada. The inter-governmental body lowered its 2019/20 global wheat crop forecast by 6 million tonnes to 763 million tonnes. Top wheat exporter Russia was […] Read more
France triggers disaster fund for drought-hit farmers
France, Europe’s biggest grain producer, announced aid on Friday for farmers hit by the severe drought that has afflicted the country since the summer, along with much of northern Europe. The government will tap an agricultural disaster fund for farmers as part of a broader aid package unveiled by Agriculture Minister Didier Guillaume during a […] Read more
Indonesia’s 2018 food wheat imports to rise 6% despite cost hike
JAKARTA, (Reuters) – Indonesia’s imports of wheat for flour are expected to reach 8.5 million tonnes this year, an industry body said, up from 8 million tonnes in 2017, despite increasing prices of the grain. Indonesian demand for noodles, biscuits and snacks like martabak, a local version of a pancake, has climbed steadily in recent […] Read more
Louis Dreyfus CEO, finance chief quit in latest shake-up
PARIS, (Reuters) – Louis Dreyfus Company announced the surprise departures of its chief executive and head of finance on Tuesday, triggering another reshuffle at the commodities giant as it strives to recover from weak agricultural markets. The group said in a statement that Gonzalo Ramirez Martiarena had resigned as CEO after three years in the […] Read more
