Chicago | Reuters — U.S. corn futures rose to a three-week high on Monday, their eighth day of gains over nine sessions, supported by a round of short covering, traders said. Chicago Board of Trade soft red winter wheat futures hit their highest since Feb. 4 on concerns that dry weather in the U.S. Plains […] Read more
U.S. grains: Weather woes support wheat
India backstops first phase of Sask. potash mine
Winnipeg | Reuters — India’s Gujarat State Fertilizers and Chemicals has agreed to guarantee payments on US$700 million in debt to finance the first phase of Karnalyte Resources’ Saskatchewan potash mine project, Karnalyte said Monday, adding supply even as other miners cut production. Under the deal, a subsidiary of State Bank of India and other […] Read more
Liberals pressed on PACA pledge for produce growers
The federal opposition New Democrats have cherry-picked a Liberal election promise to fruit and vegetable growers seeking insurance against U.S. and Canadian buyers who dodge their bills. Tracey Ramsey, the NDP’s international trade critic and MP for the southwestern Ontario riding of Essex, on Tuesday tabled a motion in the Commons for Canada to set […] Read more
U.S. livestock: CME live cattle spike on cash price hopes
Chicago | Reuters — Chicago Mercantile Exchange live cattle futures peaked at a four-month high on Friday, fueled by short-covering in anticipation of strong market-ready, or cash, cattle prices later on Friday, traders said. April ended 1.5 cents/lb. higher at 139.8, and June closed up 0.925 cent/lb. to 128.55 (all figures US$). Cash cattle bids […] Read more
A+W ups ante on layer hen housing
Having already pledged to source eggs from hens in enriched housing and raised without use of antibiotics, burger chain A+W now plans to get all its eggs from hens in open housing. The Vancouver-based income fund said Wednesday that despite having “no open-barn housing options available” today that meet its antibiotic-free requirement, it plans to […] Read more
Growers plan to plant pulses, but seeds scarce
CNS Canada — Farmers are eager to grow peas and lentils this year, but sourcing those seeds could prove difficult, according an industry group official. “We have heard that given the expected increase in area for both peas and lentils this year, the availability of good-quality seed could be a challenge,” said Carl Potts of […] Read more
U.S. grains: Soybeans set 2016 high on short-covering, export demand
Chicago | Reuters — Short-covering and hopes for improved export demand lifted U.S. soybean futures to three-month highs on Friday, marking the longest rally for the market’s most active contract in four years. Corn futures touched a two-week high on technical buying and export demand, capping the grain’s biggest weekly advance since December, while wheat […] Read more
La Nina seen maybe succeeding El Nino
Reuters — A U.S. government weather forecaster said Thursday it sees a near 50 per cent chance La Nina could develop by the Northern Hemisphere fall on the heels of the El Nino conditions likely to dissipate in the coming months. The Climate Prediction Center (CPC), an agency of the U.S. National Weather Service, in […] Read more
India, Middle East countries in talks on oil-for-food scheme
New Delhi | Reuters — India is in talks with some Gulf nations to buy oil to fill its strategic reserves and sell food in return, seeking to use its position as the world’s third-largest oil importer to both secure energy supplies and boost exports. Indian Oil Minister Dharmendra Pradhan told reporters the idea was […] Read more
U.S. livestock: Cash outlook drives CME live cattle higher
Chicago | Reuters — Chicago Mercantile Exchange live cattle futures finished sharply higher on Thursday, driven by short-covering and recent run up in wholesale beef prices, traders said. April ended 1.525 cents/lb. higher at 138.3, and June closed up 1.325 cents/lb. to 127.625 (all figures US$). The morning’s wholesale choice beef price climbed $1.36/cwt from […] Read more
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