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Tag Archives biofuel

ICE November 2023 canola with 20-, 50- and 100-day moving averages. (Barchart)
Canola, Crops, Markets

ICE weekly outlook: Canola ‘due for a bounce’

Weather co-operating, mostly, for Prairie harvesting

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MarketsFarm — A month-long decline of ICE Futures canola prices, which saw the oilseed lose $110 per tonne, came to an end and was followed by a bounce-back. While the price of the November canola contract still declined by $10/tonne to $726.10 during the week ended Wednesday, it hit its lowest price since the end […] Read more
ICE July 2023 canola with 20-day moving average (yellow line, right scale) and CBOT July 2023 soybean oil (dark green line, left scale). (Barchart)
Canola, Crops, Markets

ICE weekly outlook: Canola market rising into summer

New StatCan acreage estimates out next week

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MarketsFarm — ICE Futures canola contracts have climbed steadily higher since their late-May lows, nearing chart resistance to the upside on the first day of summer. Updated renewable fuel targets released by the U.S. Environmental Protection Agency failed to live up to expectations, sparking a speculative selloff in soyoil. While the limit-down move in soyoil […] Read more
ICE July 2023 canola with 20- and 50-day moving averages. (Barchart)
Canola, Crops, Markets

ICE weekly outlook: Canola will follow soyoil up or down

Prairie weather another guiding factor

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MarketsFarm — Although canola prices have been somewhat erratic over the last weeks, they along with other oilseeds have generally rebounded, according to trader Ken Ball of PI Financial in Winnipeg. Ball commented there has been a good amount of short-covering in soyoil at the Chicago Board of Trade, as markets positioned themselves for an […] Read more
Soil cracks around corn plants below knee-high at Manchester Township, about 130 km west of Philadelphia in southern Pennsylvania, on June 6, 2023. (Photo: Paul Kuehnel/USA Today Network via Reuters)
Crops, Markets

CBOT weekly outlook: Weather market for soy, corn

U.S. targets for biofuel blending pending

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MarketsFarm — With soybean and corn seeding nearing completion across the United States, attention in the futures markets is focused squarely on growing conditions. “We’re in a weather market, so look for traders to keep these prices chopping around over the next few weeks,” said Terry Reilly of Futures International in Chicago. Relatively dry conditions […] Read more
Viterra’s oilseed crush plant at Becancour, Que. (Viterra.com)
Crops, Machinery, Markets, Reuters

Bunge deal for Viterra to boost oilseed dominance, renewable diesel potential

Canada's Competition Bureau pledges to review deal

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Chicago | Reuters — Bunge’s planned acquisition of Viterra would make the world’s biggest oilseed crusher even more dominant and secure a larger role in the expanding renewable diesel industry, although it may face competition hurdles. Under the deal to create an agricultural giant worth about $34 billion including debt, Bunge’s crushing capacity will increase […] Read more
ICE May 2023 canola with Bollinger bands (20,2). (Barchart)
Canola, Crops, Markets

ICE weekly outlook: Upswings likely out of question for canola

Canada's exports expected to ebb

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MarketsFarm — Don’t expect any large increases in canola prices any time soon, according to Ken Ball of PI Financial in Winnipeg. In fact, there’s a good chance seen that old-crop canola could fall below its support level of $800 per tonne. Ball said 2022-23 canola ending stocks in Canada could increase because of the […] Read more
File photo of a combine at work during a harvest in Germany. (Abadonian/iStock/Getty Images)
Crops, Machinery, Reuters, Weather

Germany considering withdrawal from crop-based biofuels by 2030

Lawmakers seek to boost biofuel made from wastes

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Hamburg | Reuters — Germany’s government is considering proposals to phase out the use of biofuels produced from food or animal feed crops by 2030, the German biofuels industry association (VDB) said on Tuesday, adding the measure could increase carbon emissions. German environment minister Steffi Lemke said Jan. 17 she will soon send proposals to […] Read more
(Scharfsinn86/iStock/Getty Images)
Crops, Machinery, Markets

U.S. EPA proposes revamp of biofuel program to include EVs

Mandated biofuel levels to rise through 2025

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New York | Reuters — U.S. President Joe Biden’s administration on Thursday unveiled a three-year proposal to expand the U.S. biofuels policy with bigger volume mandates and — for the first time — to include a pathway for electric vehicle manufacturers to generate lucrative credits. Biden wants to fight climate change by reducing fossil fuel […] Read more
CBOT January 2023 soybeans (candlesticks, right column) with 20- and 100-day moving averages and CBOt January 2023 soyoil (blue line, left column). (Barchart)
Crops, Markets, Reuters

U.S. grains: Soy snaps win streak on disappointing biofuel mandates

Wheat falls on export sale data; soy weakness weighs on corn

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Winnipeg | Reuters — Chicago soybeans fell on Thursday, snapping five days of gains as soybean oil sold off sharply after the U.S. government proposed smaller-than-expected biofuels blending requirements. Wheat slid on disappointing export sales, while soybean weakness dragged corn lower. The most-active soybean contract on the Chicago Board of Trade (CBOT) settled down 39-3/4 […] Read more
ICE January 2023 canola with 20-, 50- and 100-day moving averages. (Barchart)
Canola, Crops, Markets

ICE weekly outlook: Canola still rangebound but upside possible

Crush margins expected to stay high for now

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MarketsFarm — The ICE Futures canola market traded within a certain range for the week ended Wednesday, but one trader believes that wide crush margins will take prices over the psychological resistance level. Since nearly hitting the $900 per tonne mark on Nov. 15, the January canola contract declined for eight straight sessions before going […] Read more

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