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Oilseeds

ICE January 2023 canola with Bollinger bands (20,2). (Barchart)
Canola, Crops, Markets

ICE weekly outlook: Canola’s sideways market nears low end of range

January down last six sessions

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MarketsFarm — ICE Futures canola contracts slid lower during the week ended Wednesday but remain stuck in a sideways trading range overall. The January contract has held within a range from $800 to $900 per tonne for the past five months, with the market still well within that range despite losing over $50 per tonne […] Read more
CBOT January 2023 soybeans with 20-, 50- and 100-day moving averages. (Barchart)
Crops, Markets, Reuters

U.S. grains: Soybeans, grains turn higher ahead of U.S. Thanksgiving

Wheat rises as investors position ahead of holiday

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Chicago | Reuters — Chicago soybean and grain futures ended higher on Wednesday, as traders looked to even up their positions before the market closes for the U.S. Thanksgiving holiday and ahead of a short trading day on Friday, analysts said. Corn futures strengthened, as the market eyed dry weather forecasts that may cause more […] Read more
A freighter is loaded with grain from a terminal at Vancouver’s Burrard Inlet. (Maxvis/iStock/Getty Images)
Crops, Markets

Ocean freight rates under pressure

Container rates also lower

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MarketsFarm — Ocean freight rates have come under pressure over the past month, nearing their lowest levels of 2022 as mounting COVID-19 cases in China, along with increased restrictions in the country, have contributed to concerns over declining demand. The Baltic Dry Index (BDI), a major indicator of bulk shipping rates, settled at 1,149 points […] Read more
CBOT March 2023 soft red winter wheat (candlesticks) with 20-day moving average (green line), MGEX March 2023 hard red spring wheat (yellow line) and K.C. March 2023 hard red winter wheat (orange line). (Barchart)
Crops, Markets, Reuters

U.S. grains: Futures slip on rail strike threat, EU wheat talk

U.S. winter crop ratings at lowest since at least 1986

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Chicago | Reuters — Chicago Board of Trade grain futures fell on Tuesday, amid growing concern over a possible U.S. rail strike and market speculation that U.S. grain buyers were purchasing European Union wheat, traders said. French wheat sales to China and the prospect of Polish or German wheat being booked in the United States […] Read more
(Dave Bedard photo)
General, Reuters

Cargill names new CEO

Former proteins boss to lead firm

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Reuters — Cargill Inc. said on Monday Brian Sikes will take over as the global commodities trader’s new president and CEO effective Jan. 1. Sikes will succeed Dave MacLennan, who has served as Cargill’s CEO and chairman since 2013. MacLennan will now assume the role of executive chair of Cargill’s board of directors and will […] Read more
CBOT March 2023 corn with 20-, 50- and 100-day moving averages. (Barchart)
Crops, Markets, Reuters

U.S. grains: Corn, wheat ease on firm U.S. dollar, export concerns

U.S. rail union votes against tentative contract deal

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Chicago | Reuters — Chicago Board of Trade grain futures eased on Monday as a stronger dollar and worries about U.S. exports weighed on prices, analysts said. The dollar advanced against most major currencies, making U.S. commodities look less attractive to importers, as tightened COVID-19 rules in China fuelled worries over the global economic outlook. […] Read more
(Dave Bedard photo)
Crops, Markets

AAFC report sees another series of tweaks

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MarketsFarm — As expected, Agriculture and Agri-Food Canada (AAFC) avoided making any major revisions to its November supply and demand estimates, waiting until Statistics Canada issues its next production report on Dec. 2. AAFC released its latest monthly report late Friday afternoon. While AAFC tweaked its November supply and demand estimates from October, most of […] Read more
BNSF crews clear track near Lemmon, S.D., about 300 km northeast of Rapid City, in late December 2016. (BNSF.com)
Crops, Machinery, Reuters

Biggest U.S. rail union rejects tentative deal, raising threat of strike

Union digs in on paid sick time

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Washington/Los Angeles | Reuters — Workers at the largest U.S. rail union voted against a tentative contract deal reached in September, raising the possibility of a year-end strike that could cause significant damage to the U.S. economy and strand vital shipments of food and fuel. Train and engine service members of the transportation division of […] Read more
Wagyu beef on skewers at a Tokyo market. (Michal_Staniewski/iStock/Getty Images)
General, Markets

Feds pledge agriculture office for Indo-Pacific export support

Ottawa aims to tighten ties with region

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Updated Nov. 23 — Canada’s latest round of federal efforts to boost economic ties with the Indo-Pacific region will include its first dedicated agriculture and agri-food office in the region. Prime Minister Justin Trudeau’s tour through the region last week included a pledge of $31.8 million over five years for a regional agriculture office, to […] Read more
CBOT January 2023 soybeans with Bollinger (20,2) bands. (Barchart)
Crops, Markets, Reuters

U.S. grains: Soy firms on bargain buying but posts weekly decline

December wheat ends down, corn up

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Chicago | Reuters — U.S. soybean futures rose on Friday on bargain buying after a two-session slide, but still ended the week down about one per cent on uncertainty about demand from China, traders said. Wheat futures turned lower, retreating from early advances, with the benchmark December contract on the Chicago Board of Trade declining […] Read more

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