The Trump administration on Friday proposed to increase the amount of biofuels that oil refiners must blend into the nation’s fuel mix over the next two years, driven by a surge in biomass-based diesel mandates.
Brazilian meatpacker JBS begins trading on the New York Stock Exchange on Friday, capping a stunning comeback by brothers Joesley and Wesley Batista less than a decade after they were jailed in a record-breaking corruption scandal and forced into the backseat of their global food empire.
Archer-Daniels-Midland, a major U.S. soybean crusher and biofuel producer, slashed its bids to buy the oilseed this week ahead of an expected Trump administration announcement on biofuel blending requirements, a primary driver of demand for soybean oil - and a prospective source of demand for Canadian canola.
U.S. soybean futures fell to one-week lows on Thursday as weak domestic cash markets, poor weekly export sales and worries about the size of U.S. biofuel mandates raised fears about demand for the oilseed, brokers said.
U.S. President Donald Trump said he would issue an order soon to address the effects of his immigration crackdown on the country's farm and hotel industries, which rely heavily on migrant labor.
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