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

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

White House to host fresh biofuels talks to help refiners -sources

Dec 12 (Reuters) – The White House will host talks between the rival oil and ethanol industries on Wednesday hoping to broker a deal to help refiners struggling to meet the country’s biofuels policy, according to sources familiar with the matter. The meeting comes after the White House last week pressured Midwest lawmakers to take […] Read more

U.S. soybean, wheat ending stocks up as exports fall -USDA

WASHINGTON, Dec 12 (Reuters) – The forecast for U.S. year end stocks of wheat and soybeans were raised due to dwindling export demand for U.S. supplies in the monthly supply and demand report from the USDA. The government also trimmed its supply view for corn due to rising usage from the ethanol sector. There was […] Read more

U.S. soy processors build new capacity at fastest rate in 20 years

CHICAGO, Dec 11 (Reuters) – U.S. agricultural cooperatives are building new soybean crushing plants at the fastest rate in two decades as farmers in the world’s top producer prepare to sow another record area with soy. The growth worldwide in the number of consumers with income to spend on pork and chicken has led to […] Read more

Brazil soy crop might post new record

BRASILIA, Dec 11 (Reuters) – Brazil’s 2017-18 soy harvest may be equal to or greater than last year’s record production, Deputy Agriculture Minister Eumar Novacki told Reuters on Monday. The crop is all seeded and will be harvested in a few months. “We have been talking to farmers, and I think we may have a […] Read more