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CBOT July 2021 corn (candlesticks) with MGEX, CBOT and K.C. July 2021 wheat (green, black and orange lines). (Barchart)
Crops, Markets, Reuters, Weather

U.S. grains: Corn, soy plunge on weather, broad commodities sell-off

CBOT wheat follows trend lower

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Chicago | Reuters — U.S. corn and soybean futures fell sharply on Thursday, pressured by outlooks for rain and cooler temperatures in the Midwest crop belt, as well as spillover from broad-based selling in the commodities sector, analysts said. Wheat followed the weaker trend, with seasonal pressure noted from the U.S. winter wheat harvest. Chicago […] Read more
CBOT July 2021 soybeans (candlesticks) with CME July 2021 crude palm oil and ICE July 2021 canola (green and yellow lines, left column). (Barchart)
Crops, Markets, Reuters

U.S. grains: Soybeans down with vegetable oil prices

Chicago July corn, wheat up

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Chicago | Reuters — U.S. soybean futures fell on Wednesday to their lowest level in nearly two months, pressured by a retreat in global vegetable oil prices from multi-year highs, analysts said. Corn and wheat futures ended mixed, with the nearby July corn and wheat contracts closing higher, while back months declined. Chicago Board of […] Read more
CBOT July 2021 soybeans (candlesticks) with 20-day moving average (dark green line) and CBOT July 2021 corn (orange line, left column). (Barchart)
Crops, Markets, Reuters, Weather

U.S. grains: Corn, soy drop; soyoil limit-down

Spring wheat futures guide wheat markets lower

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Chicago | Reuters — U.S. corn and soybean futures eased and soyoil futures plunged by their daily trading limit on Friday on concerns about demand for renewable fuel feedstocks after news the White House was considering offering fuel refiners relief from biofuel blending mandates. The Reuters report that the U.S. Environmental Protection Agency was pondering […] Read more
A pair of Bombardier C series jets. (Bombardier.com)
Crops, Reuters

U.S. lawmakers to propose tax credit for sustainable aviation fuel

Fuel from plant oils, animal fats would qualify

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New York | Reuters — U.S. lawmakers plan to introduce a bill on Thursday that would create a tax credit for lower-carbon sustainable aviation fuel, which they hope will slash emissions of greenhouse gases from the aviation industry. The legislation, seen by Reuters, would impose a tax incentive of up to US$2 for every gallon […] Read more
CBOT May 2021 soybeans (candlesticks) with 20- and 50-day moving averages and CBOT May 2021 soyoil (black line). (Barchart)
Crops, Markets, Reuters

U.S. grains: Soyoil leads soybean complex higher

Wheat follows corn, soy higher

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Chicago | Reuters — Chicago soybean futures climbed on Tuesday, led by rising soybean oil as global edible oil supplies tighten. Corn futures also moved higher, as traders weighed Brazil’s late-planted second crop against beneficial rains in Argentina. Wheat followed the markets higher, despite much-needed rainfall across the U.S. Plains production belt. The most-active soybean […] Read more
(Scharfsinn86/iStock/Getty Images)
Crops, Machinery, Reuters

U.S. oil industry seeks unusual alliance with Farm Belt against electric vehicle agenda

'We weren't born yesterday'

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New York | Reuters — The U.S. oil industry is seeking to forge an alliance with the nation’s corn growers and biofuel producers to lobby against the Biden administration’s push for electric vehicles, but is so far meeting a cool reception, according to multiple sources familiar with the discussions. The effort marks an unusual attempt […] Read more
The Big River Resources ethanol plant at West Burlington, Iowa, about 120 km southwest of Davenport. (Steven Vaughn photo courtesy ARS/USDA)
Crops, Machinery, Markets, Reuters

Trump administration mulls industry-wide biofuel waiver

Comment period would end after Trump's exit

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New York | Reuters — The Trump administration is considering requests from the oil refining industry and its backers for a sweeping nationwide waiver to exempt them from their obligations to blend biofuels, a measure they argue would help them weather the economic impact of the coronavirus pandemic. U.S. President Donald Trump’s Environmental Protection Agency […] Read more
(ThamKC/iStock/Getty Images)
Crops, Reuters

U.S. Supreme Court agrees to hear biofuel waiver case

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Reuters — The U.S. Supreme Court on Friday agreed to review a lower court ruling that severely limited the government’s powers to exempt small refineries from the nation’s biofuels law, rekindling a long-running dispute between the oil and corn industries. The decision came after appeals by refining companies that argued the 10th Circuit Court’s decision […] Read more
Photo: iStock
Reuters

Biden transition team holds talks with biofuel groups -sources

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New York | Reuters – U.S. President-elect Joe Biden’s transition team has held calls with biofuel groups on topics including compliance with U.S. biofuel blending laws and Biden’s low-carbon climate vision, according to two sources familiar with the conversations. The discussions with biofuel trade groups as well as POET, a top company in the cellulosic […] Read more
Husky Energy’s ethanol plant at Minnedosa, Man., about 45 km north of Brandon. (HuskyGrain.com)
Cereals, Crops, Reuters

Husky, Cenovus shareholders approve merger deal

Cenovus to be Western Canada's biggest ethanol, DDGS producer

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Reuters — Cenovus Energy’s $6.07 billion deal to buy Husky Energy was approved by the shareholders of the two companies on Tuesday, creating Canada’s No. 3 oil and gas producer in a rapidly consolidating industry. Cenovus said 93 per cent of shareholder votes were cast in favour of the merger at a special meeting, while […] Read more

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