Winnipeg,(MarketsFarm) – Sharp losses in Chicago Board of Trade soybeans over the past month are looking overdone, according to an analyst who expects the lows may be in for the time being. March soybeans lost roughly 60 cents per bushel since the beginning of January, with the latest concerns over the coronavirus in China contributing […] Read more
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CBOT soybeans oversold, lows may be in for now
Canola futures rebound, but indications of high carryout
WINNIPEG, (MarketsFarm) – Intercontinental Exchange (ICE) Futures canola contracts finished higher on Tuesday, recovering slightly after sharp losses incurred yesterday. One trader noted that spreading activity indicated that there is a large amount of canola in the system, with the widening July/November suggesting that there will be high carryout from the 2019 growing season. Rebounding […] Read more
Canola futures drop with financial markets
WINNIPEG, (MarketsFarm) – Intercontinental Exchange (ICE) Futures canola contracts were lower on Monday, as the outbreak of a coronavirus in China hampered financial markets by calling future demand needs into question. The trader noted that although canola values dropped significantly, canola is doing rather well compared to United States markets. But canola “can’t resist being […] Read more
Grain Growers of Canada calls for quick passage of USMCA
WINNIPEG, (MarketsFarm) – The Grain Growers of Canada (GGC) have called upon the federal government to ratify the United States-Mexico-Canada Agreement (USMCA) as soon as possible. The USMCA is also known as the Canada-U.S.-Mexico Agreement (CUSMA). “Our farmer members across Canada need a stable market to succeed and to grow. By signing this historic agreement, […] Read more
Virus concerns add more uncertainty to cattle market
Winnipeg,(MarketsFarm) – Cattle futures in Chicago dropped hard over the past few days, as mounting concerns over the coronavirus in China triggered a broad-based selloff in global equities and commodities. While the virus adds an extra layer of uncertainty to the North American cattle market, expectations for solid beef demand should remain supportive for prices […] Read more
Louis Dreyfus plans fish farming, bio-energy in Chinese venture
PARIS, (Reuters) – Agricultural commodity merchant Louis Dreyfus Company (LDC) said on Friday it will develop aquaculture and plant-based energy production as part of an industrial joint venture in China. The partnership with Donlink Group to create a food industry park near the southern port of Nansha marks a further diversification by LDC in China […] Read more
Veg oils a drag on canola futures
WINNIPEG, (MarketsFarm) – Intercontinental Exchange (ICE) Futures canola contracts finished weaker on Friday, as declines in other vegetable oils continued to weigh on values. A trader said there was profit-taking in Chicago soyoil. Also, reports stated the lack of Chinese demand for United States soybeans has also been an issue. It’s a similar case for […] Read more
ICE Canola Weekly: Don’t expect China to buy if Huawei exec goes free
WINNIPEG, (MarketsFarm) – Intercontinental Exchange canola traders have been keeping a close eye on the extradition hearing for Huawei executive Meng Wanzhou in Vancouver. The hearing is to determine whether Meng will be extradited to the United States, where she is facing charges related to violating U.S. sanctions against Iran. Meng was arrested by Canadian […] Read more
Canola futures following soy’s seesaw
WINNIPEG (MarketsFarm) – Intercontinental Exchange (ICE) Futures canola contracts finished weaker on Thursday, getting caught in declines in Chicago soyoil. However, a trader pointed out that isn’t necessarily a bad thing. Canola often lags behind changes to soyoil and in this case that’s good. The trader also noted soyoil has bounced around a great deal […] Read more
Canola futures finish slightly higher
WINNIPEG, Jan. 22 (MarketsFarm) – Intercontinental Exchange (ICE) Futures canola contracts finished slightly higher on Wednesday, regaining some of the values lost yesterday. Support came from improved Chicago soyoil prices, as well as from stronger European rapeseed. However, lower Malaysian palm oil prices and the South American soybean harvest, which is just underway, weighed on […] Read more
