Chicago | Reuters –– Chicago Mercantile Exchange lean hog futures sank to their lowest level in five years on Thursday, given ample supplies versus slack pork demand, said traders and analysts. “Pork demand never recuperated from the high prices we had in the past,” said EBOTTrading.com senior analyst John Kleist. Pork demand is compounded by […] Read more
U.S. livestock: CME hog futures hit five-year low as supply trumps demand
U.S. reports low-path H7N3 bird flu in California
Paris | Reuters –– The United States has reported a mild form of bird flu on a turkey farm in California, the World Organisztion for Animal Health (OIE) said Wednesday, the latest in a series of outbreaks to hit the U.S. poultry industry in recent months. The U.S. Department of Agriculture said in a report […] Read more
SQM stock plummets after directors from PotashCorp resign
Reuters — Shares in Chilean fertilizer group SQM plunged Wednesday after three board representatives from Saskatchewan’s PotashCorp resigned in protest at its handling of an illicit payments scandal that has shaken the Chilean establishment. SQM vice-chairman Wayne Brownlee, the chief financial officer at PotashCorp, and two directors stepped down late Tuesday after clashing with the […] Read more
Olymel hog plant staff approve strike mandate
Updated, March 19 — Olymel has tabled a “final comprehensive offer” for unionized staff at its Vallee-Jonction, Que. hog slaughter plant after the workers gave negotiators a strike mandate. The meat packing arm of Quebec’s Coop Federee said Wednesday it’s at an “impasse” with its workers, represented by the Confederation des syndicats nationaux (CSN), due […] Read more
Sask. budget trims ag spending slightly
A substantial drop in provincial resource revenue from its oil sector has Saskatchewan holding the line on spending and leaning on its potash sector in its 2015 budget. Finance Minister Ken Krawetz and Ag Minister Lyle Stewart on Wednesday announced a total ag ministry budget of $362.4 million for 2015-16, down 2.5 per cent from […] Read more
Monsanto settles more U.S. farmer claims over GM wheat
The 2013 discovery of experimental Roundup Ready wheat plants in a farmer’s field in Oregon has led the crop’s developer to settle suits brought by wheat growers in seven U.S. states. Monsanto Co. said Wednesday it had reached a settlement agreement with growers in Kansas, Missouri, Illinois, Oklahoma, Texas, Louisiana and Mississippi, stemming from Japan’s […] Read more
CBOT weekly outlook: More downside possible for corn, soybeans
CNS Canada –– Chicago Board of Trade corn and soybean futures moved sharply lower during the week ended Wednesday, and could see more downside going forward. “As long as crude oil keeps on grinding lower, the U.S. dollar remains fairly strong, I think that prices have an opportunity to continue to grind lower as long […] Read more
ICE weekly outlook: Canola rangebound, for now
CNS Canada –– ICE Futures Canada canola futures moved lower during the week ended Wednesday, but managed to find some support to the downside and are looking rangebound overall. Canola is still looking firm relative to Chicago (CBOT) soybeans, said broker Ken Ball of PI Financial in Winnipeg. While solid commercial demand was one supportive […] Read more
U.S. grains: Soybeans, corn, wheat close higher after Fed statement
Chicago | Reuters — U.S. soybean, wheat and corn futures rose on Wednesday, with the Federal Reserve’s announcement that it will be less patient in normalizing monetary policy jolting the market to session highs late in the trading day. Bargain buying and short covering also were supportive factors for the agricultural commodities. The Federal Reserve’s […] Read more
U.S. livestock: CME live cattle close higher, hogs lower
Chicago | Reuters –– Chicago Mercantile Exchange live cattle futures closed sharply higher on Wednesday, with April and June up by the three-cents-per-pound price limit, led partly by their discounts to this week’s cash price expectations, traders said. April and June finished at 156.575 and 148.475 cents/lb., respectively (all figures US$). Futures’ limit will be […] Read more