Chicago Board of Trade soybean futures rose on Wednesday after a four-session slide, amid strength in crude oil markets and signs of continued U.S. export demand for the oilseeds, market analysts said.
Soybean and corn futures at the Chicago Board of Trade were pressured by losses in crude oil over the past week, but uncovered support and could see some choppiness ahead of the United States election. The commodities were in a 'tug-o-war' as large supplies were countered by good demand.
Brazilian soybean producers on Tuesday said there is good reason for products of Danone to be boycotted after the French dairy giant said it would stop sourcing soy from Brazil, while the Brazilian government criticized "unreasonable" moves by European companies.
China is willing to cooperate more closely with Russia in the soybean industry, its agriculture ministry quoted an official as saying on Wednesday, without giving any details.
Chicago wheat futures climbed on Tuesday after the U.S. Department of Agriculture reported that the U.S. winter wheat crop was in worse condition than the trade had expected, according to analysts.
Canadian renewable fuel producers are facing lower returns on new facilities due to a slump in British Columbia's low carbon fuel standard (LCFS) credit market, a trend expected to persist amid a flood of exports from the United States.
Chicago Board of Trade soybean futures fell on Monday as crude oil prices dipped and harvest pressure dragged down soy and corn prices, market analysts said.
The net fund short position in canola fell to its lowest level in six months during the week ended Oct. 22, as speculators covered bearish bets and put on new longs, according to the latest Commitments of Traders report from the United States Commodity Futures Trading Commission (CFTC).
Chicago Board of Trade soybean and corn futures fell on Friday, as hefty supply from a rapid U.S. harvest weighed heavily over contracts, market analysts said.
Voluntary country of origin labelling (vCOOL) for beef and pork, biofuel tax credit changes, and an impending U.S. farm bill are three U.S. agriculture trends worth watching according to recent analysis from Farm Credit Canada (FCC).