GFM Network News



A worker inspects soybeans during the soy harvest near the town of Campos Lindos, Brazil February 18, 2018.

U.S. farmers celebrate soy price surge as Brazil misses out

The Latin America powerhouse missed the upward surge by selling earlier to lock in prices

U.S. farmers sold freshly harvested soybeans directly off their combines for a profit as prices rose to a four-year high this autumn, a welcome change from the losses suffered during the U.S.-China trade war. Strong exports to China as the world’s top soybean importer emerged from lockdown helped push the most active soybean futures contract at the Chicago Board of


A Chinese ship is loaded with soybeans at Port of Santos May 19, 2015.

Domestic and export demand support canola

Guided by bullish chart signals, speculators are adding to their long positions

ICE canola futures kept climbing during the week ended Nov. 20, hitting multi-year highs and showing no signs of slowing the uptrend. Aside from a brief blip on the charts in 2017, when the July contract was expiring, the nearby canola market has not traded above $550 per tonne for any extended period of time since 2013. January canola first settled

Manitoba producers may be a bit leery of soybeans after three straight dry years,
 but over time the crop will do well.

Don’t let dry weather scare you off soybeans

Growers told the long-term outlook for the crop is still positive

Three straight dry summers shouldn’t dissuade Manitoba producers from growing soybeans, despite a sharp drop in acreage during that time, an industry official says. The long-term outlook for soybeans in Manitoba is still positive, even though the province’s seeded acreage in 2020 was less than half the peak reached three years ago, said Bryce Rampton,

Unusually warm temperatures for this time in November have kept farmers’ attention off selling their crops, in turn pushing canola prices higher.

Canola gets bounce off soybeans’ gains

Uncertainty also continues over U.S. soybean acreage

ICE Futures canola made significant gains during the week ended Nov. 5, after starting the week in the red. Canola prices started the week at $534.90 per tonne, with the January contract losing over $7 per tonne. However, unseasonably balmy weather and support from comparable vegetable oils gave prices a much-needed boost throughout the week, and the January


CBOT weekly outlook: Bullish USDA report sends soy, corn up sharply

MarketsFarm — Soybean and corn yields in the United States ended up much smaller than early expectations, according to updated supply and demand estimates released Tuesday by the U.S. Department of Agriculture. The resulting drop in production and ending stocks has sent futures rallying to new contract highs, with more gains likely. Average U.S. soybean

Brazil importing soy, food staples as prices soar

The surprising move is part of ongoing global food supply chain disruptions

Reuters – Brazil, one of the world’s largest agricultural producers, is importing food staples including soybeans due to a rise in domestic prices, President Jair Bolsonaro said in a video posted on social media. Brazil’s turn to imports is the latest disruption to the global food supply chain as soybean prices hover around four-year highs,

Bunge lifts outlook as quarterly profit nearly doubles

Reuters — Agricultural commodities trader Bunge Ltd. raised its 2020 outlook after reporting a 91 per cent jump in adjusted third-quarter profit on Wednesday, as strong soy processing margins and robust demand for soy products boosted its core agribusiness segment. Bunge shares rose almost seven per cent to their highest level in more than a


U.S. EPA approves XtendiMax use for five years

Court ruling had blocked dicamba sales

Chicago | Reuters — The U.S. Environmental Protection Agency will allow farmers for the next five years to spray crops with a Bayer herbicide whose sales were blocked by a U.S. appeals court in June, EPA administrator Andrew Wheeler said Tuesday. XtendiMax, a dicamba-based herbicide that is sprayed on soybeans and cotton genetically engineered to

Southwestern Ontario elevator to handle Scoular grain

Martin Farming to take grain at new elevator

Scoular Co. has set up a new delivery point for southwestern Ontario growers from whom it buys grain. The Omaha-based, privately-held grain firm announced Thursday it has made a deal with Martin Farming — which operates at Paris, just northwest of Brantford — that will direct grain to Martin’s new 22,000-tonne-capacity elevator. The agreement “allows