June 29, 2016

29/06/2016: Latest Oilseed & Grain news

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Panama Canal (Image: dsasso)
Opening of expanded Panama Canal also opens new era for US commodities
Now completed, the project includes new locks that are 70 feet wider and 18 feet deeper on both the Pacific and Atlantic oceans and a second lane along the canal effectively doubling seaway capacity.
   
Senate reaches agreement on national GMO labelling bill
Only days before Vermont’s law calling for the mandatory labelling of GMOs is scheduled to become effective, the US Senate Agriculture, Nutrition, and Forestry Committee has reached a bipartisan agreement on a national GMO labelling bill.
    
Russia and China partner on 30 grain hubs
A Russian-Chinese intergovernmental commission agreed on a memorandum for a US$1.1 billion investment to fund one grain terminal and 29 elevators across Russia to support exports of grain to China.
     
French Oilseed Group invests US$79M in rapeseed joint venture
The farmer-owned group will engage in the production of a rapeseed resin ingredient that can replace traditional chemicals such as formaldehyde used by the wood panelling and furniture industries.
      
Leading sorghum tech company acquires North American seed supplier
Chromatin, a leading sorghum genetics company, has acquired Vega, Texas-based sorghum seed supplier Kirkland Seed.
     
CME adds four new palm contracts to risk management products
Just before markets opened on Monday, CME group announced the launch of four new palm contracts to begin trading on July 11, 2016, pending all regulatory review periods.
     
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