Winnipeg/New York | Reuters — Archer Daniels Midland , one of the world’s top biofuels producers, has slowed North American biodiesel output, the latest sign the industry is battling uncertainty over U.S. renewable fuel policy while the oil rout curbs demand. The Chicago-based agri business has “temporarily” shifted production at its Velva, N.D. oilseeds processing […] Read more
ADM cuts biodiesel output as industry hit by weak margins
Brazil truck strike grinds into second week, port access cleared
Sao Paulo | Reuters — Truckers staged nearly 100 roadblocks across Brazil’s farm belt on Wednesday as protests stretched into their eighth day, though access to the country’s biggest port was cleared after police clashed with protesters who had briefly halted traffic there. The steadily widening blockades have sparked growing fuel and supply shortages and […] Read more
U.S. grains: Soybeans slide on easing concerns about Brazil truck strike
Chicago | Reuters — Chicago Board of Trade soybeans retreated on Wednesday from a six-week high earlier this week, on prospects for an imminent end to the Brazilian truck drivers’ strike which had threatened exports just as the country’s massive soybean crop was entering world markets. CBOT wheat also fell as U.S. wheat remains too […] Read more
U.S. livestock: CME hogs post more gains on cash prices
Chicago | Reuters — Chicago Mercantile Exchange lean hogs posted their sixth straight higher settlement on Wednesday as prices for market-ready (cash) hogs edged upward, traders said. April futures closed 0.75 cent per pound higher at 69.325 cents, and May up 2.85 cents at 81.9 cents (all figures US$). Wednesday morning’s average cash hog price […] Read more
Pork packers Olymel, Atrahan plan ‘partnership’
Meat packer Olymel has a “partnership” pact in hand with a competing Quebec pork player for joint operation of both companies’ hog slaughter and processing businesses. Olymel, the pork and poultry arm of La Coop federee, announced an agreement in principle Wednesday with family-owned packer Atrahan Transformation, to start talks on “pooling our operations in […] Read more
Soybeans’ potential seen growing on Prairies
Winnipeg | CNS Canada — Soybean acres in Canada — particularly Western Canada — are expected to be on the rise, according to an analyst. “I’m basing that on new varieties as well as price,” Chris Beckman, oilseeds analyst for the grains and oilseeds division of Agriculture and Agri-Food Canada, told the annual Wild Oats […] Read more
Canada says only three per cent of beef trade hurt by ban
Ottawa | Reuters — Markets that have closed their borders to Canadian beef after a case of mad cow disease was discovered account for just three per cent of Canadian trade, Agriculture Minister Gerry Ritz said Tuesday. South Korea, Taiwan, Peru and Belarus have imposed trade restrictions on Canadian beef and beef products after Canada […] Read more
Low stocks-to-use ratio to keep pea bids well supported
Winnipeg | CNS Canada — Canadian pea exports have been running at a very solid pace during the 2014-15 crop year to date, but supplies are seen to be running out and the market will need to work to ration demand over the later portion of the marketing year. Canadian peas have been leaving the […] Read more
Inelastic demand to keep mustard well supported
Winnipeg | CNS Canada –– The inelastic demand for Canada’s mustard crop is expected to keep prices well supported, as the country is the major world supplier and end-users need to make sure the acres keep going in the ground. “There’s no substitute for mustard,” Walter Dyck of Olds Products told the annual Wild Oats […] Read more
Prairie crop checkoff tax credits pegged for 2014
Prairie crop growers who are preparing their returns for the 2014 tax year and didn’t ask for refunds on their crop checkoffs may be able to see some of those funds come back in tax credits. Some crop commodity groups’ checkoffs qualify for the federal Scientific Research and Experimental Development (SR+ED) tax credit, which can […] Read more