GFM Network News


CBOT November 2021 soybeans (candlesticks) with 20-, 50- and 100-day moving averages (yellow, green and black lines). (Barchart)

U.S. grains: Soybeans up on firm cash markets, vegoils

Corn, wheat futures sputter

Chicago | Reuters — U.S. soybean futures ended higher on Tuesday for a fourth straight session, with the benchmark November contract touching a one-week top on firm cash markets and global demand for vegetable oils, analysts said. But Chicago Board of Trade corn and wheat futures closed lower, sagging after a choppy session. CBOT November

ICE November 2021 canola (candlesticks) with 20-, 50- and 100-day moving averages (yellow, dark green and black lines). (Barchart)

ICE weekly outlook: Canola feeling the energy

Canola riding on fuels' bullish momentum

MarketsFarm — ICE Futures canola contracts moved steadily higher over the week ended Wednesday, hitting the top-end of a three month trading range. While tight Canadian supplies due to a Prairie drought have underpinned the market for some time, the latest strength and any future direction may be more closely tied to movement in energy


(ThamKC/iStock/Getty Images)

U.S. EPA recommends lowering 2020 biofuel mandates retroactively

Agency not confirming or denying sources' statements

Reuters — The U.S. Environmental Protection Agency has recommended retroactively lowering biofuel blending mandates for 2020, two sources familiar with the matter said, after the agency on Thursday sent a proposal on the mandates to the White House for review. The move could provide immediate relief to oil refiners that have to comply with the

A view of Imperial Oil’s Strathcona fuel refinery from the North Saskatchewan River. (Imperial Oil photo via BusinessWire)

Imperial Oil lays out Alberta renewable diesel plan

Company would use 'locally grown' canola, soybean oils

Reuters — Imperial Oil, one of Canada’s biggest oil producers and refiners, on Wednesday outlined a plan to process vegetable oil into renewable diesel at its 191,000-barrel-per-day Edmonton-area refinery. The project, which still requires final approval, is part of majority-owner Exxon Mobil’s goal of producing more than 40,000 barrels per day of low-emissions fuels by

CBOT December 2021 soybeans (candlesticks) with Bollinger bands (20,2). (Barchart)

U.S. grains: Soy, corn slide on macroeconomic fears, biofuel worries

CBOT, MGEX December wheats also down

Chicago | Reuters –– U.S. soybean futures fell to their lowest in nearly two months on Friday and corn set a near one-month low on macroeconomic concerns along with beneficial rains in the western Midwest and Plains, analysts said. Soyoil futures fell more than five per cent on reports that the U.S. Environmental Protection Agency


(Marathonpetroleum.com)

Fuel firm Marathon buys in on ADM soy crush plant

Marathon to process biodiesel from North Dakota plant's soy oil

Reuters — Marathon Petroleum and ADM announced on Thursday a joint venture to produce soybean oil that will be exclusively sold to Marathon for its renewable diesel plant. Refiners are on the hunt for secure access to feedstocks for renewable fuels amid supply constraints and soaring prices for fats, greases and oils. A joint-venture soybean

A rebound in demand for biodiesel and bioethanol this year is projected to exceed pre-pandemic levels.

EU biofuel imports drop as pandemic recovery draws on stocks

European Union imports of biofuel are expected to drop by a quarter this year as the bloc draws on large inventories to meet growing demand after the easing of coronavirus restrictions, the European Commission said July 6. Rebounding demand for biodiesel and bioethanol in 2021 is projected to exceed the level before the COVID-19 pandemic,

(ThamKC/iStock/Getty Images)

U.S. Supreme Court backs refineries in biofuel waiver dispute

Top court overturns ruling against EPA granting waivers

Reuters — The U.S. Supreme Court on Friday made it easier for small oil refineries to win exemptions from a federal law requiring increasing levels of ethanol and other renewable fuels to be blended into their products, a major setback for biofuel producers. The justices overturned a lower court decision that had faulted the U.S.


Storage tanks at a PBF Energy refinery at Delaware City, Delaware on Aug. 21, 2015. (File photo: Reuters/Charles Mostoller)

U.S. refiners amass biofuel liability as Biden mulls relief

Open RIN positions could hit refiners' earnings

New York | Reuters — U.S. merchant refiners have amassed up to a US$1.6 billion shortfall in the credits they will need to comply with U.S. biofuel laws, according to a Reuters review of corporate disclosures, an apparent bet that the Biden administration could let them off the hook or that credit prices will fall.

(ADM.com)

ADM to crush soybeans in North Dakota

Ex-Cargill Malt plant to be redeveloped

A former malt processing plant in eastern North Dakota is set to be the site of the state’s first soybean crushing plant. U.S. ag processor ADM, the ‘A’ of the four ‘ABCD’ companies that dominate global grain trading, announced Monday it will spend about US$350 million to develop a dedicated soybean crush plant and refinery