News

NIOP News Flash: May 5, 2016

INDUSTRY


Canada’s Oilseed Production Forecast to Drop
Canada’s oilseed production (canola, soybeans and sunflowers) for 2016-17 is forecast to drop to 21.5 million tonnes, down 2 million tonnes from 2015-16, mostly driven by lower canola production, the U.S Department of Agriculture’s (USDA) Foreign Agricultural Service (FAS) said in a April 22 report. Total crush is forecast to fall to 9.75 million tonnes, a 5% decrease from the 2015-16 anticipated crush levels of 10.2 million tonnes. World-Grain

BIOFUEL


Biofuel Breakthrough: Production Jumps 64%
A few people have asked if I can reproduce more of my Forbes columns here, because they don’t like wading through the ads there to get to the content. This week I wrote an update on the progress toward cellulosic ethanol commercialization, and given my previous coverage on the topic (especially Why I Don’t Ride a Unicorn to Work) this seems like an appropriate subject to discuss here. Oil Price

CANOLA


European Union leap for genetically modified canola
Exports of Australian genetically modified canola to Europe are expected to hit records levels this year. Heavy discounts on the biotech crop are changing EU demand preferences. The EU is a critical market for Australian canola, but until now it has taken little GM canola, grown here since 2008. Weekly Times

CORN


New Corn Policy Could Prompt Shift in Chinese Agri-Production
By cancelling the corn temporary purchase and storage policy after eight years, Chinese authorities may have precipitated a seismic shift in the country’s corn and its deep-processing industries through this crucial supply-side reform. Food Navigator

PALM


How effective will Indonesia’s palm oil permit freeze really be?
Environmental groups have raised concerns that Indonesian president Joko “Jokowi” Widodo’s planned moratorium on new oil palm and mining concessions will have limited impact without hawkish enforcement by local governments and police. Mongabay News

SOYBEAN


Grain Traders Rejecting New Soybeans Developed by Monsanto
U.S. grain companies plan to reject Monsanto Co.’s new genetically modified soybeans because of concerns that they could disrupt international trade without a key regulatory approval from the European Union. Wall Street Journal