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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
News, Other

EPA sends final biofuel blending rule to White House

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The U.S. Environmental Protection Agency has sent a final rule on the amount of ethanol and other biofuels that oil refiners must blend into their fuel over the next three years to the White House for review, according to a federal website. The news puts the agency on track to meet a June deadline 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
(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
(File photo by Dave Bedard)
Crops

U.S. EPA ordered to reassess glyphosate impact on health, environment

Decision doesn't prohibit Roundup's use

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Reuters — The U.S. Environmental Protection Agency was ordered by a federal appeals court on Friday to take a fresh look at whether glyphosate, the active ingredient in Bayer’s Roundup herbicide, poses unreasonable risks to humans and the environment. In a 3-0 decision, the Ninth U.S. Circuit Court of Appeals agreed with several environmental, farmworker
(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.

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