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Soybeans

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Crops, Markets, Reuters, Soybeans

China to buy more homegrown soybeans for reserves

State-owned firms urged to prioritize domestic soy

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Beijing | Reuters — China will step up buying of domestic soybeans by state reserves to encourage farmers to keep planting the crop, the agriculture ministry said on Thursday, as Beijing continues to push for greater self-sufficiency in oilseed. China started to increase soybean planting a year ago amid worries about its heavy reliance on […] Read more
The skeleton of a fish is seen in the Navarro lagoon, which dried up due to the climate phenomenon La Nina, in Navarro in Argentina’s Buenos Aires province on Dec. 5, 2022. (File photo: Reuters/Agustin Marcarian)
Corn, Crops, Markets, Soybeans, Weather

Argentina soybeans go from ‘worse to worser,’ expert says

Heatwave now crisping early-planted crops

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MarketsFarm — Extreme heat and drought throughout most of Argentina have taken a huge toll on that country’s soybean crop. Dr. Michael Cordonnier of Soybean and Corn Advisor said the forthcoming soybean harvest is now likely to produce 25 million to 30 million tonnes, a far cry from the 40 million to 45 million tonnes […] Read more
(Richardson International video screengrab via YouTube)
Canola, Crops, Markets, Soybeans

Canola crush of 2022 smallest in five years

Meanwhile, soybean crush rose on the year

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MarketsFarm — Statistics Canada (StatCan) reported that 2022 had the smallest domestic canola crush for a calendar year since 2017. As well, 2022 marked the smallest canola oil production in five years and the least amount of canola meal produced in four years. The sharp reduction of canola being crushed was due to the 2021 […] Read more
File photo of young plants in a soybean field in Argentina. (Gracieross/iStock/Getty Images)
Crops, Markets, Soybeans, Weather

Argentina soybean crop smaller than expected, USDA attaché says

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MarketsFarm — Argentina’s 2022-23 soybean crop is likely much smaller than official projections as high temperatures and a lack of moisture cut into yields, according to an update from the U.S. Department of Agriculture’s Buenos Aires attaché. The USDA post from the South American country pegged the soybean crop at only 36 million tonnes, which […] Read more
A view of Imperial Oil’s Strathcona fuel refinery from the North Saskatchewan River. (Imperial Oil photo via BusinessWire)
Canola, Crops, Machinery, Soybeans

Imperial Oil clears Edmonton renewable diesel plant for construction

Quick decision motivated in part by need for feedstocks such as canola oil, company says

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Reuters — Imperial Oil on Thursday announced approval for an investment of $720 million to build Canada’s largest renewable diesel facility at its Strathcona refinery near Edmonton. The Calgary-based company said the facility will produce 20,000 barrels per day of renewable diesel and is expected to start production in 2025. Imperial expects regulatory approval for […] Read more
The skeleton of a fish is seen in the Navarro lagoon, which dried up due to the climate phenomenon La Nina, in Navarro in Argentina’s Buenos Aires province on Dec. 5, 2022. (File photo: Reuters/Agustin Marcarian)
Corn, Crops, Markets, Reuters, Soybeans, Weather

Worst drought in decades sees Argentina exchange slash soy, corn forecasts

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Buenos Aires | Reuters — Argentina’s Rosario Grains exchange sharply cut its forecast for the 2022-23 soybean harvest to 37 million tonnes from a previous forecast of 49 million, it said on Wednesday, as the country faces its worst drought in 60 years. The exchange also slashed its 2022-23 corn harvest estimate to around 45 […] Read more
(Greg Berg photo)
Crops, Markets, Pulses, Soybeans, Weather

Pulse weekly outlook: 2022 a ‘good year’ for Manitoba pulses, soy

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MarketsFarm — Despite a rough start to southern Manitoba’s growing season, Manitoba Pulse and Soybean Growers executive director Daryl Domitruk was content with how 2022 came to pass. “For pulses and soybeans, it was generally a good year as a result of some very good yields in soybeans and some quite good yields in dry […] Read more
(Greg Berg photo)
Corn, Crops, Markets, Soybeans

CBOT weekly outlook: Soy futures find support, but upside limited

Corn activity mainly bearish

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MarketsFarm — Solid export demand, a short squeeze by fund traders and production uncertainty in South America have all propped up Chicago soybean futures over the past week, with more gains possible ahead of the year-end before correcting lower, according to an analyst. With the South American harvest still some time away, “you might have […] Read more
Corn seedlings in southern Ontario in 2021. (Farmtario photo by John Greig)
Corn, Crops, Soybeans

StatCan trims Canadian corn, soy acreage estimates

Grain corn acreage still expected up from 2021 level

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New Statistics Canada projections show the country’s grain corn and soybean growers have slightly curbed their enthusiasm for those crops compared to their intentions earlier in the year. StatCan on Tuesday released the results of its 2022 June field crop survey, conducted between May 13 and June 12, projecting Canadian corn area at 3.633 million […] Read more

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