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ICE January 2023 canola with 20-, 50- and 100-day moving averages. (Barchart)
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
(Frankpeters/iStock/Getty Images)
Crops

U.S. EPA proposal likes canola oil for renewable fuel

A final EPA decision is expected this summer, which, if favourable, could add new demand for Canada's premier oilseed

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Canola has another feather in its cap — one which is expected to put more money in farmers’ pockets. In a ‘proposed decision’ released in April the U.S. Environmental Protection Agency (EPA) recognized canola oil’s value as an environment-friendly alternative to fossil-based fuel — a move that’s expected to add new demand for the crop.
In 2020, several canola-centric groups petitioned the EPA to include canola oil on its approved list of possible biofuels.
News

U.S. EPA proposes nod to canola-based biofuel

The April 18 proposal could open up new market opportunities for the oilseed

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Canadian canola may have a bite at the U.S. biofuel market after the U.S. Environmental Protection Agency (EPA) proposed in mid-April that canola oil-derived renewable diesel, jet fuel and other biofuels qualify as “advanced biofuels” under the Renewable Fuel Standard (RFS) program. The EPA determined that “greenhouse gas (GHG) emissions from renewable diesel, jet fuel and other fuels
CBOT May 2022 corn (candlesticks) with Bollinger bands (20,2). (Barchart)
Crops, Markets

U.S. grains: Corn, wheat climb on Ukraine woes, U.S. biofuel plan

May soybeans also close higher

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Chicago | Reuters — U.S. corn, wheat and soybean futures rose on Tuesday on worries about the Russia-Ukraine conflict persisting and disrupting Black Sea grain exports, and optimism about increased demand for biofuels, analysts said. U.S. President Joe Biden will unveil plans to extend the availability of higher biofuel blends of gasoline during the summer
Markets

U.S. considers adding more ethanol to gasoline to lower pump prices

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Reuters – The Biden administration is considering temporarily removing restrictions on summer sales of higher-ethanol gasoline blends as a way to lower fuel costs for U.S. consumers, three sources familiar with the matter told Reuters. The review comes as President Joe Biden seeks to tame soaring pump prices, which hit a record this month following
“Corn ethanol is not a climate- friendly fuel.” – Tyler Lark.
News

Study finds corn ethanol worse than gasoline

Ethanol ‘at least’ 24 per cent more carbon intensive, researchers find

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Reuters – Corn-based ethanol, which for years has been mixed in huge quantities into gasoline sold at U.S. pumps, is likely a much bigger contributor to global warming than straight gasoline, according to a study published recently. The study, published in the Proceedings of the National Academy of Sciences, contradicts previous research commissioned by the
News

ADM profit up on strong biofuel demand and ethanol margins

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Reuters – Global grain trader Archer-Daniels-Midland Co. reported a jump of nearly 14 per cent in fourth-quarter earnings as rising biofuel demand and strong ethanol margins helped to boost operating profit at its carbohydrate solutions division. High energy and grain costs, however, clipped earnings at the corn-processing unit, as well as its core ag services
CBOT March 2022 soybeans (candlesticks) with 20-, 50- and 100-day moving averages (yellow, green and black lines). (Barchart)
Crops, Markets

U.S. grains: Soybeans reach seven-month peak

Oil strength, South American crop worries lift soy; CBOT corn up, wheat down

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Chicago | Reuters — U.S. soybean futures hit their highest in seven months on Wednesday on technical buying and as soyoil futures rallied with energy markets and historically high palm oil prices. Concerns about a reduced South American harvest and exports from top soy supplier Brazil offered further support, with strength spilling over into corn

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