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Tag Archives Palm oil

CBOT July 2022 soyoil (candlesticks, right column) with 20-day moving average (dark green line) and July 2022 soybeans (yellow line, left column). (Barchart)
Crops, Markets, Reuters

U.S. grains: Soyoil surges on Indonesia export ban

Soybean, corn futures sag on profit-taking

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Chicago | Reuters — U.S. soyoil futures surged to all-time highs on Friday after Indonesia blocked exports of palm oil, a competing vegetable oil, but soybean and corn futures fell on profit-taking ahead of the weekend. Wheat futures ended modestly lower after a choppy session as brokers weighed tightening global grain stocks against sluggish export […] Read more
File photo of fresh palm fruits and palm oil. (Slpu9945/iStock/Getty Images)
Crops, Markets, Reuters

Indonesia bans palm oil exports as global food inflation spikes

Government under pressure to control cooking oil prices

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Jakarta | Reuters — Indonesia, the world’s top palm oil producer, announced plans to ban exports of the most widely used vegetable oil on Friday, in a shock move that could further inflame surging global food inflation. The halting of shipments of the cooking oil and its raw material, widely used in products ranging from […] Read more
ICE November 2021 canola (candlesticks) with 20-day moving average (yellow line) and CBOT December 2021 soyoil (green line, left column). (Barchart)
Canola, Crops, Markets

ICE weekly outlook: Canola rally keeps going

Not yet back at $1K, but it's possible

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MarketsFarm — With good gains from other edible oils, canola has remained on the rise so far during the week of Oct. 18. It’s uncertain as to how much longer the rally could press on, but analyst David Derwin of PI Financial in Winnipeg said canola punching through $1,000 per tonne again is possible. “Never […] Read more
ICE January 2022 canola (candlesticks) with Bollinger bands (20,2). (Barchart)
Canola, Crops, Markets

ICE weekly outlook: Canola still rangebound

Selling pressure seen from U.S. soy

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MarketsFarm — ICE Futures canola contracts held rangebound during the week ended Wednesday, climbing to their strongest levels in two months at one point before running into resistance and retreating to trade well off those highs. “We’re still stuck in a trading range,” said Keith Ferley of RBC Dominion Securities in Winnipeg. Activity in outside […] Read more
ICE November 2021 canola (candlesticks) with Bollinger bands (20,2). (Barchart)
Canola, Crops, Markets

ICE weekly outlook: Canola remains rangebound

Trade predicts even smaller production

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MarketsFarm — At least for the foreseeable future, ICE Futures canola is likely to remain rangebound, according to analyst David Derwin of PI Financial in Winnipeg. The November canola contract has support at $850 per tonne and when it bumps up to around $900 it’s quickly pulled back, he said. “Sideways is not very exciting, […] Read more
CBOT December 2021 corn (candlesticks) with CBOT September 2021 wheat and corn (green and yellow lines). (Barchart)
Crops, Markets, Reuters

U.S. grains: Corn up on supply worries

Soy futures follow veg oils higher

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Chicago | Reuters — U.S. corn futures rose on Tuesday on concerns about tightening grain supplies while soybean futures advanced on strong global vegetable oil markets, analysts said. Wheat futures turned lower on profit-taking after rallying on supply concerns a day earlier. Chicago Board of Trade September corn futures settled up six cents at $5.51-1/4 […] Read more
CBOT July 2021 soybeans (candlesticks) with 20- and 50-day moving averages (yellow and green lines) and CME July 2021 crude palm oil (purple line). (Barchart)
Crops, Markets, Reuters, Weather

U.S. grains: Soybean futures fall, corn firm ahead of USDA report

CBOT, MGEX July wheats down; K.C. wheat up

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Chicago | Reuters — U.S. soybean futures dropped 1.2 per cent on Wednesday, pressured by a round of profit-taking and weakness in the cash market, traders said. Wheat futures also were mostly lower after rain in the northern U.S. Plains eased some concerns about parched soils limiting the size of the crop. Corn futures were […] Read more
A corn crop west of Grunthal, Man. on Aug. 17, 2019. (Dave Bedard photo)
Crops, Markets, Reuters

U.S. grains: Corn highest since 2013

Soy tops US$15, wheat over US$7 on supply fears

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Chicago | Reuters — U.S. corn, wheat and soybean futures hit multi-year highs on Thursday as concerns about tightening global grain supplies triggered short-covering and fund-driven buying, analysts said. Nearby Chicago Board of Trade corn futures closed up their daily 25-cent limit (all figures US$). Front-month CBOT wheat rose above $7 a bushel and soybeans […] Read more

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