Markets
CHICAGO, June 27 (Reuters) – U.S. farmers have cut back on using common weedkillers, hunted for substitutes to popular fungicides and changed planting plans over persistent shortages of agricultural chemicals that threaten to trim harvests. Spraying smaller volumes of herbicides and turning to less-effective fungicides increase the risk for weeds and diseases to dent crop […] Read more
Markets
U.S. Midwest forecast spells bad news for corn, soybeans
A summer forecast calling for hot and dry weather in the United States Midwest will keep the corn and soybean bulls running if it comes to fruition, says an analyst. “It’s hard to rule out some kind of crazy prices this summer,” said DTN lead analyst Todd Hultman. A U.S. drought would add “another layer […] Read more
New plant opens doors for camelina
A new camelina facility has opened in Montana, which may allow the Cinderella crop to finally get to the ball. Sustainable Oils officially unveiled its headquarters in Great Falls on June 23. The company, a subsidiary of a California firm called Global Clean Energy, promotes itself as the largest camelina breeder, seed producer and grain […] Read more
Wet weather likely reduced dry bean acres
Manitoba’s dry bean growers likely planted less of the crop than originally anticipated, says an industry official. Dennis Lange, provincial pulse crop specialist with Manitoba Agriculture, was initially forecasting about 125,000 acres of the crop, down from last year’s 175,000 acres. He now thinks it will be closer to 100,000 to 110,000 acres as growers […] Read more
U.S. wheat set for second weekly fall as economic worries grow
June 24 (Reuters) – Chicago wheat futures on Friday hit their lowest in nearly four months and headed to a second consecutive weekly slump, dragged down by growing concerns over a global economic downturn, while an improved outlook for U.S. crops also added pressure. Ongoing talks over a shipping corridor for Ukrainian grain exports trapped […] Read more
Canola futures take unprecedented plunge
November canola futures have plummeted about $200 per tonne in the last 10 days. “I don’t know if we’ve ever seen a drop quite that large in that short a period of time,” said Ken Ball, an adviser with PI Financial. It took about a month and a half for the market to fall that […] Read more
Drought slashes EU durum production
The extent of the damage in the European Union is not yet known because harvest is just getting underway
The durum crop in the European Union is in trouble, says an analyst from that region. The European Commission is forecasting 7.6 million tonnes of production, down two percent from last year and five percent below the five-year average. But industry groups think it could be a lot worse. Coldiretti, an Italian farm organization, is […] Read more
Hot mustard market will ensure it finds a path to buyers
The Black Sea region will continue to be a force in the mustard market in 2022-23, says a processor of the crop. Scott Cunningham, chief operating officer of Schlüter & Maack Canada, said his company is estimating that Russian growers increased acres by 30 percent this year in response to sky-high prices. There could be […] Read more
Canola enjoys U.S. soybeanoil’s success
Canadian canola seed prices are linked to American soybean oil prices and that’s a good thing these days. United States soybean oil is selling at a premium of US$150 per tonne over South American soybean oil, up from $20 per tonne in April. That reflects a stronger domestic demand for the product in the U.S. […] Read more
Biodiesel filling gaps left by idled petroleum processing
I wonder if all the new renewable diesel projects announced across North America will be a solution to the shortage of oil-refining capacity or will they become the bad guys? Fuel prices are posting record highs and a large reason for the run up is the rally in crude oil but even then, fuels are […] Read more
