Markets
A new CoBank report suggests America’s renewable diesel craze could bring a halt to the country’s soybean exports by 2030. Renewable diesel capacity in the United States is on track to reach 24.6 billion litres by 2030, up from 5.7 billion litres in 2022. “Getting there means we need to crush an additional 3.4 billion […] Read more
Markets
Brazil Potash, Amaggi sign agreements for Amazon mines
SAO PAULO, (Reuters) - Toronto-based Brazil Potash and Brazilian farm conglomerate Amaggi have signed agreements aimed at the purchase, sale and shipping of 2.4 million tonnes of potash that the Canadian company plans to mine in the Amazon, according to a joint statement on Monday. Under the agreements, Amaggi will be legally required to buy 500,000 tonnes […] Read more
USDA takes ax to wheat production estimate
Wheat futures prices received a bullish bump after the release of the United States Department of Agriculture’s Small Grains 2022 summary report. The USDA is forecasting 1.65 billion bushels of total wheat production, down from its August estimate of 1.783 billion bu. Todd Hultman, lead market analyst with DTN, believes the lower production number is […] Read more
War delivers blow to snack food sector
The war in Ukraine dropped a bomb on snack food manufacturers, says an industry official. “The supply chain was already fragile,” said Christine Cochran, president of SNAC International, which represents various stakeholders in the industry. “What the war in Ukraine did was take a fragile system and further degrade it.” Ukraine accounts for nearly half […] Read more
Trouble lurks behind record wheat estimate
The world wheat supply and demand situation is deceiving, says a grain analyst. On paper supplies look very comfortable. The U.S. Department of Agriculture is now forecasting record world production. But dig a little deeper and plenty of reasons for concern will be found, said Masha Belikova, grains reporter with FastMarkets Agriculture. Russia has a […] Read more
CETA still not fully delivering
Agriculture sector wants feds to make progress on removing barriers, five years after deal was signed
Canadian and European officials celebrated five years of their trade agreement recently, but many in Canadian agriculture are still waiting to see the benefits. Canadian Cattle Association general manager Ryder Lee said beef producers are frustrated they haven’t been able to reach European markets. “There’s potential and there’s realizing it, and we’re still in that […] Read more
Will millet’s limelight give canaryseed an extra boost?
It is unclear whether canaryseed will benefit from the good fortunes of a related crop, says an industry official. The United Nations has declared 2023 as the International Year of Millet. Millet is often used in conjunction with canaryseed in birdseed mixes, so the fate of the two crops is intertwined in that market. But […] Read more
Chinese demand for grain imports takes tumble
Report says decline is attributed to the country’s slumping economy, but it also points out imports were high last year
There is some troubling demand news coming out of China, the world’s largest importer of grains and oilseeds. Reuters reports that the country’s January through August soybean imports are down nine percent compared to a year ago, corn purchases tumbled 21 percent, wheat fell 10 percent and barley plummeted 43 percent. Reuters attributes the declines […] Read more
War developments, rising U.S. dollar drive grain markets
The intensifying war in Ukraine and the rising value of the American dollar are two major factors driving crop markets as we enter fall. Wheat futures jumped higher last week as the Ukrainian counter offensive made strong gains against the Russian invaders, prompting Vladimir Putin to call up more fighters and rattle the nuclear threat. […] Read more
World given an opportunity to revive rules-based trade
A couple of years ago, rules-following free traders like Canada seemed to be sadly out of step with the march of history. China was beating down on countries like Canada and Australia for daring to anger it, nakedly weaponizing trade for political ends. The United States was coming to the end of the first term […] Read more
