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ICE November 2022 canola (candlesticks) with 20-day moving average (yellow line, right column) and NYMEX November 2022 West Texas intermediate crude (black line, left column). (Barchart)
Crops, Markets

ICE weekly outlook: Canola shouldn’t fall hard

Loonie keeping oilseed off sharper decline

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MarketsFarm — As Malaysian palm oil futures tumbled to 20-year lows during the week of Sept. 26, they have put a lot of pressure on canola prices, analyst Errol Anderson of ProMarket Communications in Calgary said. However, he said, the Canadian dollar has been the backstop that kept the oilseed from falling with palm oil.
The end of the Indonesian palm oil ban is an important first step to return the situation to normal.
Comment, Op/Ed

Comment: Politics fuelled palm oil export ban

The impact of Indonesia’s move, designed to quell domestic unrest, reverberated across the globe

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Amid an ongoing global food price crisis, vegetable oils are registering record-breaking highs. According to data compiled by the Food and Agriculture Organization of the United Nations, the price for edible oils rose to almost 250 per cent of standard price levels. Over the past two years, labour restrictions, climate change and violent conflict have
CBOT July 2022 soyoil (candlesticks, right column) with July 2022 soybeans (yellow line, left column). (Barchart)
Crops, Markets

U.S. grains: Soyoil futures rally to record high

Corn hits highest since August 2012

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Chicago | Reuters — U.S. soyoil futures surged to a record high on Wednesday after Indonesia broadened its export ban on raw materials for cooking oil to fight food inflation, traders said. “The move dramatically tightens an already tight global supply of edible oils that saw global prices surge when the Russian invasion of Ukraine
File photo of fresh palm fruits and palm oil. (Slpu9945/iStock/Getty Images)
Crops, Markets

Indonesia’s palm oil export ban seen short-lived on limited storage

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Jakarta/Mumbai | Reuters — Indonesia’s ban on palm oil exports is unlikely to last more than a month as Jakarta has limited infrastructure to store the surplus oil and the country faces mounting pressure from buyers to resume shipments, industry officials said. The world’s top palm oil exporter announced plans to ban exports on Friday,
CBOT July 2022 soyoil (candlesticks, right column) with 20-day moving average (dark green line) and July 2022 soybeans (yellow line, left column). (Barchart)
Crops, Markets

U.S. grains: Soyoil surges on Indonesia export ban

Soybean, corn futures sag on profit-taking

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Chicago | Reuters — U.S. soyoil futures surged to all-time highs on Friday after Indonesia blocked exports of palm oil, a competing vegetable oil, but soybean and corn futures fell on profit-taking ahead of the weekend. Wheat futures ended modestly lower after a choppy session as brokers weighed tightening global grain stocks against sluggish export
File photo of fresh palm fruits and palm oil. (Slpu9945/iStock/Getty Images)
Crops, Markets

Indonesia bans palm oil exports as global food inflation spikes

Government under pressure to control cooking oil prices

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Jakarta | Reuters — Indonesia, the world’s top palm oil producer, announced plans to ban exports of the most widely used vegetable oil on Friday, in a shock move that could further inflame surging global food inflation. The halting of shipments of the cooking oil and its raw material, widely used in products ranging from
Heavy rains and river overflow led to this flooding on Jan. 2 in the Aceh province of Indonesia, the world’s largest palm oil-producing nation.
Grain Markets, Markets

Oilseed price trends remain on upslope

Canola’s highs may be in, at least for the time being

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The ICE Futures canola market has seen some wide price swings to start the new year, hitting contract highs then falling $80 per tonne off of those highs in the front month before eventually rebounding to be right back around where they started the year (as of Jan. 20). Such large swings are to be

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