United States Agriculture & Food insights

Chris Vervaet doesn’t know if the glass is half full or half empty after a flurry of biofuel policy announcements in the United States. There were some positives and negatives for Canada’s canola industry, said the executive director of the Canadian Oilseed Processors Association. The U.S. Environmental Protection Agency (EPA) released its proposed rule for

Euronext wheat edged down from a one-month high on Friday as investor worries over U.S. intervention in Israel’s war with Iran abated and traders assessed mixed weather for crops. September wheat on Euronext settled 0.5% lower at 208 euros ($239.91) a metric ton. It earlier rose to its highest since May 21 at 210.50 euros, surpassing a previous one-month top from Thursday. Chicago wheat also ticked down. U.S. prices had surged on Wednesday, when the run-up to a U.S. holiday on Thursday drove investors to cover short positions amid crop weather worries and uncertainty over U.S. action against Iran. The White House’s delay to a decision on U.S. involvement in the conflict eased market jitters and sent crude oil lower on Friday. “The conflict clearly forced funds to cover some of their shorts,” a futures dealer said. “It’s difficult to judge the risk on this.” Traders were monitoring any war effects on grain activity in Iran. No additional purchase interest from Iran was seen this ...

Core Tip: Foreign media reported on June 22: As of the week of June 20, global oilseed prices mostly rose, primarily supported by surging soybean oil and crude oil prices. The market expects that U.S. biofuel policies will help boost domestic crushing demand, although the abundant soybean harvest in South America continues to constrain soybean rebound potential. In the coming week, the market will closely monitor weather conditions and U.S. soybean growth status, as well as soybean planting area data to be released at the end of the month; over the weekend, a potential U.S. attack on Iranian nuclear facilities could trigger a crude oil surge, which would also impact the soybean market.