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ICE July 2023 canola with 20- and 50-day moving averages. (Barchart)
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
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
Viterra’s oilseed crush plant at Becancour, Que. (Viterra.com)
Crops, Markets

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
“…long-term, you’ve got to be looking at new uses and new markets and non-traditional applications for ethanol if we’re going to continue to grow our industry and its value.” – Geoff Cooper, Renewable Fuels Association.
News

U.S. ethanol sector sets sights on lower-carbon aviation

The biofuel industry is looking to the skies for the next potential ethanol market

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The U.S. ethanol industry is lobbying the Biden administration to ensure lower-carbon aviation fuel made from ethanol will qualify for subsidies under the U.S.’s Inflation Reduction Act. The ethanol industry is arguing such provisions are crucial to meeting U.S. climate goals. Why it matters: The biofuel market in the U.S. is looking for new footholds.
File photo of a combine at work during a harvest in Germany. (Abadonian/iStock/Getty Images)
Crops, 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
(ThamKC/iStock/Getty Images)
News

U.S. biofuels proposal would lift near-term greenhouse gas emissions

EPA says reductions would only come in the long term

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The U.S. Environmental Protection Agency’s proposal to increase biofuel blending mandates through 2025 would lead to a near-term increase in greenhouse gas emissions, before yielding reductions in the longer term, according to agency documents. The Renewable Fuel Standard requires the nation’s oil refiners to add billions of gallons of biofuels like corn-based ethanol into the fuel pool each
U.S. EPA proposes higher biofuel blending volumes
News, Other

U.S. EPA proposes higher biofuel blending volumes

Agency also including electricity for EVs for the first time

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Reuters – The U.S. Environmental Protection Agency has proposed increases in the amount of ethanol and other biofuels that oil refiners must blend into their fuel over the next three years. The agency also proposes incorporating electricity made from renewable biomass and used for electric vehicle use into the program for the first time. The long-awaited proposal will call
(Scharfsinn86/iStock/Getty Images)
Crops, 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
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

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

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