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Federated Co-operatives looks to sell oil-producing business, keep refinery

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tagged alberta british columbia carbon capture crude oil FCL Federated Co-operatives refinery saskatchewan Weyburn
Winnipeg | Reuters -- Federated Co-operatives Limited (FCL) put its oil production business up for sale this week, according to a marketing document obtained by Reuters, but the co-op said it plans to keep its Saskatchewan refinery. FCL spokesperson Cam Zimmer did not comment on the reason for offering to sell the production business but said the co-op is committed to owning its Regina refinery long-term. FCL, which made $7.9 billion in sales last year from energy, crop supplies…
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CBOT oats climb on supply woes

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tagged Canada cbot COVID-19 drought drytimes futures harvest markets oats prices
Chicago | Reuters -- Chicago Board of Trade December oats futures climbed their daily maximum of 25 cents per bushel on Wednesday, nearing a 7-1/2 hear high, after drought slashed supplies from top global supplier Canada at a time of robust demand for the grain, traders said. The December oats contract surged 25 cents to settle at $5.57-3/4 per bushel, just under its contract top set last week at $5.64, the highest price on a continuous chart of the front contract since March 2014…
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Pulse weekly outlook: Market remains very quiet

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tagged Chickpeas Lentils market Peas per bushel per pound prices Pulses
MarketsFarm -- Things remain very quiet in the pulse market with little demand from buyers and producers unwilling to sell, according to Marcos Mosnaim of Mercais Commodities in Toronto. "We are in a situation where we have to wait and see. The market is super quiet right now. At these prices, interest from buyers to take position is small [and] interest from growers is small as well," he explained, noting this has especially been the case for lentils and peas. There hasn't been…
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ICE weekly outlook: Canola waiting on fresh news

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tagged Brazil Canola drought exports futures harvest ICE Futures markets prices soyoil
MarketsFarm -- The ICE Futures canola market held rangebound during the week ended Wednesday, looking for some direction. "None of these markets are flashing any strong signals that there's much going on... they're waiting for fresh news and there isn't much around right now," said Ken Ball of PI Financial in Winnipeg. While uncertainty over the size of this year's drought-stricken Canadian canola crop remains supportive, Ball noted that canola is very expensive compared to other…
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U.S. grains: Corn, soy jump despite rising harvest as oil, equities gain

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tagged cbot China closing markets Corn equities exports futures Gulf Coast harvest prices soybean terminals Wheat
Chicago | Reuters -- U.S. corn futures rebounded on Wednesday from four sessions of declines in a technical and fund-buying bounce fueled by rising crude oil and equities markets, more than offsetting seasonal pressure from an accelerating U.S. harvest. Soybean and wheat futures also advanced as global economic jitters eased and the dollar weakened. The gains followed early week declines in broader markets on worries about property developer China Evergrande. "We're getting…
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Britain tells its food industry to prepare for CO2 price shock

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tagged Britain carbon dioxide cf industries Fertilizer LNG meat natural gas Pork Poultry slaughter turkey U.K.
London | Reuters -- Britain warned its food producers on Wednesday to prepare for a 400 per cent rise in carbon dioxide prices after extending emergency state support to avert a shortage of poultry and meat triggered by soaring costs of wholesale natural gas. Natural gas prices have spiked this year as economies reopened from COVID-19 lockdowns and high demand for liquefied natural gas in Asia pushed down supplies to Europe, sending shockwaves through industries reliant on the…
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Taiwan applies to join Pacific trade pact week after China

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Taipei | Reuters -- Taiwan has formally applied to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), the government said Wednesday, less than a week after China said it too had submitted an application. Taiwan has been angling to join the grouping for a while and had already been discussing the issue informally with the bloc's existing members. Cabinet spokesman Lo Ping-cheng said they had informed the CPTPP's members of their decision to…
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China to release potash reserves

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tagged China farmers Fertilizer markets potash prices reserves supplies urea
Beijing | Reuters -- China's state planner on Wednesday said the government would take measures to keep supply and prices of fertilizers stable, including releasing potash fertilizer reserves and ensuring imports reach farmers as it looks to bolster food security. The National Development and Reform Commission (NDRC) said it was one of 13 government departments that had issued a notice requiring companies to prioritize supply of raw materials and energy to fertilizer…
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CBOT weekly outlook: Harvest moving markets sideways

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tagged cbot China Corn futures harvest prices soybean USDA Wheat yields
Updated, Sept. 22 -- MarketsFarm -- Harvesting continues to progress in both Canada and the United States, resulting in quiet activity at the Chicago Board of Trade (CBOT). "Right now during harvest, the corn, wheat and beans are all stuck in a narrow range," said Ryan Ettner, trader for Allendale Inc. at McHenry, Ill. "For the December corn would be between $5.30 and $5 (per bushel, all figures US$); for November (soybeans), $13 down to $12.50…
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BASF warns on seeding choices for drought-hit imi-treated fields

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tagged Ares BASF breakdown canary seed Canola clearfield Corteva drought drytimes durum follow crops herbicide imi Odyssey rainfall Solo Viper weather weatherfarm news
Updated, Sept. 22 -- The maker of Odyssey, Solo and Viper is warning grain growers whose fields were excessively dry in 2021 that those herbicides may not break down soon enough in those soils to allow certain seeding choices in 2022. BASF Canada on Monday issued an "urgent notice to growers" in which the company provided a list of new "agronomic…
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