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On June 26th, according to foreign media reports, Canadian canola futures on the Intercontinental Exchange (ICE) closed higher on Thursday, with the benchmark contract rising 0.40%, mainly reflecting a rebound in international crude oil futures. An analyst stated that the modest rise in Canadian canola prices was primarily due to a rebound in West Texas Intermediate (WTI) crude oil prices after falling to $70 per barrel, which boosted commodity prices, including canola. Crude oil prices rose by more than $1 per barrel, and Chicago soybean oil and European canola oil prices also increased. However, Malaysian palm oil prices fell on the same day. Statistics Canada will release its canola planting area report next Tuesday. Analysts currently predict that the Canadian canola planting area this year will be between 22.1 million and 23 million acres.June 26 (Futures News) – According to foreign media reports, soybean oil futures on the Chicago Board of Trade (CBOT) closed higher on Thursday, with the benchmark contract rising 2.2%, following the rebound in the international crude oil market. International crude oil futures rebounded on Thursday as an attack on a cargo ship near Oman raised concerns about when Middle Eastern oil shipments would return to pre-war levels. The rebound in crude oil prices provided a strong boost to the Chicago soybean oil market. The U.S. Department of Agricultures weekly export sales report showed that for the week ending June 18, 2026, net sales of U.S. soybean oil for the 2025/26 marketing year were 900 tons, down 62% from the previous week and 47% from the four-week average.On June 26th, according to foreign media reports, soybean meal futures on the Chicago Board of Trade (CBOT) closed higher on Thursday, with the benchmark contract rising 1.6%, following gains in neighboring soybean and soybean oil markets. The rebound in international crude oil futures and the potential for high temperatures in the Midwest boosted Chicago soybean and soybean oil futures, providing a price support for the soybean meal market. The USDAs weekly export sales report showed that for the week ending June 18, 2026, net sales of U.S. soybean meal for the 2025/26 marketing year totaled 153,100 tons, down 46% from the previous week and 47% from the four-week average. Net sales for the 2026/27 marketing year were 29,200 tons, compared to 120,200 tons a week earlier.June 26 (Futures News) – According to foreign media reports, Chicago Board of Trade (CBOT) soybean futures closed higher on Thursday, with the benchmark contract rising 2%. This was mainly due to improved U.S. soybean export sales, a rebound in international crude oil futures, and the possibility of high temperatures in parts of the Midwest over the weekend, which boosted the relative price of soybean oil futures. The U.S. Department of Agricultures crop condition report released Monday showed that two-thirds of the U.S. corn and soybean crops were growing well or very well, reflecting favorable growing conditions in the Midwest. However, market attention shifted to the weather forecast for the coming week on Thursday. The National Oceanic and Atmospheric Administration (NOAA) predicts that temperatures could reach 100 degrees Fahrenheit (approximately 38 degrees Celsius) this weekend from the northern Midwest to the Carolinas in the East. Temperatures from the Great Plains to the Atlantic coast will be above average for this time of year, a situation expected to continue until July 4.Japans Tokyo unadjusted CPI rose 0% month-on-month in June, compared with 0.3% in the previous month.

Tumbling bitcoin overshadows El Salvador’s crypto conference

Skylar Shaw

Nov 18, 2022 16:27

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The eagerly anticipated bitcoin conference in El Salvador, which was in the spotlight in 2021 after the small country became the first in the world to accept cryptocurrencies as legal tender, has lost its shine this time around due to a severe downturn in the world of digital currencies.


At the "Adopting Bitcoin: A Lightning Summit in El Salvador," which started on Tuesday and finishes on Thursday in the nation's capital of San Salvador, it was clear that prominent figures from the bitcoin community were missing, as were the vacant chairs.


Juan Fonseca, a 41-year-old Guatemalan who attended the conference, stated that the low pricing and other concerns create an uneasy environment.


Like other cryptocurrencies, bitcoin experienced a steep decline over the course of the year as investors fled riskier investments in response to U.S. Federal Reserve interest rate hikes and extremely high inflation.


Following the remarkable collapse of cryptocurrency exchange FTX, which is now trading around $16,600 from an all-time high of around $69,000 in November last year, Bitcoin, the biggest and best-known cryptocurrency in the world, has fallen even more.


Some enthusiasts consider the issues of today to be merely a passing phase.


Bitcoin exchange According to Paolo Ardoino, chief technical officer of the company, "Bitfinex will step up efforts to create a free, unstoppable, resilient, and open bitcoin and technological infrastructure for El Salvador."


The parent company of Bitfinex, Ifinex, has committed to assist with El Salvador's government to develop a framework for regulating digital assets and securities.


"El Salvador will emerge as Central America's financial and technological hub. After talking with El Salvador's president, Nayib Bukele, Ardoino stated that the noise wouldn't keep the builders from working.


The cryptocurrency will be accepted as legal tender alongside the dollar, according to Bukele, who announced on Twitter on Wednesday night that "we are buying one Bitcoin every day starting tomorrow."


According to unofficial calculations, his administration has so far purchased 2,381 bitcoins for a total of around $107 million.