WINNIPEG – ICE Futures canola contracts were weaker on Monday, with the spread weighing on values especially for the front months. The May contract lost C$1.40 at C$438.10 per tonne and the July contract fell C$1.30 at C$444.90 per tonne. China’s ban on canola imports from Canada and farmers in the United States switching from […] Read more
Daily news
Canola bids slide further; wheat down on large supplies
Large spec short position overhanging canola market
Winnipeg – Speculators added to their large net short position in ICE Futures canola during the week ended April 23, according to the latest Commitment of Traders (CoT) report compiled by the United States Commodity Futures Trading Commission (CFTC). Managed money and other reportable speculators had a net short position of 58,004 contracts on April […] Read more
Canola still dropping; wheat weaker
WINNIPEG – ICE Futures canola contracts were weaker on Friday, with the spread weighing on values. A Winnipeg-based trader commented rolling out of May into July was a major feature. Also weighing on values were: China’s ban on canola imports from Canada, a huge South American soybean crop, and farmers in the United States switching […] Read more
Yara, IBM to offer digital services to farmers
OSLO, April 26 (Reuters) – Fertilizer maker Yara International and IBM plan to launch digital farming services later this year to help boost crop yields, eventually targeting 100 million hectares, or close to 7 percent of arable land worldwide, they said. Norway-based Yara is among the world’s largest fertiliser makers, reporting revenues of $12.9 billion […] Read more
Bayer shareholders vent ire over Monsanto-linked stock rout
BONN, April 26 (Reuters) – Bayer shareholders vented their anger over its stock price slump on Friday as litigation risks mount from the German drugmaker’s $63 billion takeover of seed maker Monsanto. Several large investors said they will not support aspirin invesotr Bayer’s management in a key vote scheduled for the end of its annual […] Read more
Archer Daniels Midland 1st-qtr profit falls 41 pct
April 26 (Reuters) – U.S. grains merchant Archer Daniels Midland Co reported a 41 percent drop in first-quarter profit on Friday, following floods and severe weather conditions that hit the U.S. Midwest earlier this year. Net earnings attributable to the company fell to $233 million, or 41 cents per share, in the three months ended […] Read more
ADM considers ethanol spinoff as Q1 profit falls on severe weather
CHICAGO/BENGALURU, April 26 (Reuters) – Archer Daniels Midland Co said on Friday it was considering spinning off its ethanol business after slim biofuel margins and Midwestern floods slammed the U.S. grains merchant’s profit, which tumbled 41% in the first quarter. A major cause was the “bomb cyclone” blizzards that devastated the Midwest and Great Plains […] Read more
Dollar, stronger soy and lower acreage boost canola futures
WINNIPEG – ICE Futures canola contracts were stronger on Thursday, getting support from a number of factors in trading that had a good deal of volume. One of those factors was spillover from soybeans on the Chicago Board of Trade, which were up four U.S. cents on Thursday. Another was a bounce from the Statistics […] Read more
Floods stall fertilizer shipments in latest blow to U.S. farmers
NEW YORK, April 24 (Reuters) – A U.S. biofuels trade group asked a federal court on Wednesday to stop the Environmental Protection Agency from giving refiners new waivers from the country’s biofuels law until the agency reverts to the tougher criteria it used to assess applications before Donald Trump’s presidency, according to court papers. The […] Read more
Russia tightens grip over grain exports with state-led association
MOSCOW, (Reuters) – Major grain traders in Russia have agreed to create a new exporters’ association led by a state-controlled firm, increasing the government’s influence over supplies from the world’s biggest wheat exporter. Russia’s agriculture ministry has been meeting regularly with big exporters since September to monitor exports amid a lower 2018 crop. In February, […] Read more
