Agrium forecasts smaller-than-expected quarterly profit — October 1, 2014

Reuters — Fertilizer and ag retail firm Agrium said Wednesday it expected third-quarter earnings from continuing operations of 45 cents to 55 cents per share, falling short of Wall Street expectations. Analysts were expecting Agrium to report third-quarter earnings of 68 cents, according to Thomson Reuters I/B/E/S. Two of Calgary-based Agrium’s major fertilizer production facilities […]

Chicago corn to test US$3 mark by mid-month, analyst says — October 1, 2014

CNS Canada — Corn futures on the Chicago Board of Trade were lower during the week ended Wednesday, as funds continued to try and take advantage of new lows on the market. “People in the market come in and try to cherry-pick the bottom,” said Sean Lusk, director of commercial hedging at Walsh Trading in […]

Russia surprises peers with early wheat export market exit — October 1, 2014

London/Moscow | Reuters – Russian wheat has made a surprise early exit from key global export markets, despite the country’s near-record crop, after domestic prices rose in the fallout from the Ukraine crisis. With a bumper crop and the rouble close to historic lows, Russia could reasonably be expected to actively supply wheat to key […]

U.S. grains: Corn, soy rebound on short-covering — October 1, 2014

Chicago | Reuters – U.S. corn and soybeans edged higher on Wednesday as investors covered short positions after prices fell to multiyear lows earlier in the session, and as rains stalled record harvests in the U.S. Midwestern crop belt. Wheat futures also rose, stabilizing after reaching four-year lows last week. The gains followed the U.S. […]

U.S. livestock: CME feeder cattle surge three-cent limit — October 1, 2014

Chicago | Reuters – Chicago Mercantile Exchange feeder cattle contracts on Wednesday settled up at their maximum three-cents daily price limit, lifted by live cattle futures’ climb to a new high, traders and analysts said. They also cited strong prices for calves for fattening and the corn price slide to a five year low. Less […]

Trade awaits updated StatsCan production estimates — October 1, 2014

CNS Canada – Statistics Canada releases updated estimates on the size of the 2014-15 crops on Friday, but the lateness of the harvest in many areas will limit how much stock the industry puts in the numbers at this time. Average trade guesses generally predict a slight increase for most of the major crops compared […]

USDA to restart U.S. oilseed crush reports in 2015 — September 30, 2014

Reuters — The U.S. Department of Agriculture is taking over a series of industrial grain and oilseed reports discontinued in 2011 by the U.S. Census Bureau, but USDA will not begin publishing data until 2015, a spokesman said Monday. The reports being relaunched include statistics for the dry and wet alcohol milling and flour milling […]

Fertilizer maker Mosaic cuts phosphate output — September 30, 2014

Reuters — Mosaic Co., the world’s largest maker of finished phosphate products, said Tuesday it will reduce phosphate output, and it dampened sales expectations. The U.S. fertilizer producer said the curtailment, due to the high costs of raw materials sulfur and ammonia, is not expected to result in worker layoffs. The reduction comes as corn […]

EU farmers to get more aid to deal with Russian food ban — September 30, 2014

Brussels | Reuters – The European Commission on Tuesday announced a new set of measures, worth up to 165 million euros, to help fruit and vegetable producers hit by a Russian ban on agricultural imports. Last month Moscow imposed a one-year embargo on meat, fish, dairy, fruit and vegetables from the U.S., the European Union, […]

ADM expands U.S. Pacific Northwest venture with Marubeni — September 30, 2014

Reuters — U.S. agribusiness company Archer Daniels Midland said Tuesday it has acquired a stake in Portland, Oregon export terminal Columbia Grain by expanding its Kalama Export Co. joint venture with Japanese grain trader Marubeni. The stake in Columbia Grain, previously a wholly owned subsidiary of Marubeni, broadens ADM’s export capacity in the U.S. Pacific […]