CNS Canada –– ICE Futures Canada canola futures ended lower during the week ended Wednesday, as the market was overdue for a setback. Canola futures have outpaced outside oilseed markets to the upside in recent weeks, but have hit resistance and are now due for some weakness, analysts say. “What was supporting canola was spread […] Read more
ICE weekly outlook: Canola overdue for a setback
U.S. livestock: CME hogs rally with biggest daily gain in four months
Chicago | Reuters — Chicago Mercantile Exchange lean hogs closed sharply higher Wednesday on short-covering that earlier drove futures to their biggest one-day gain in four months at over two per cent. The electronic is currently trading and is up 1.8 per cent. February closed 2.1 cents per pound higher at 71.525 cents, and April […] Read more
Australia’s temperatures found fastest-rising worldwide
Sydney | Reuters –– Australia faces a rise in temperature of potentially more than 5 C by the end of the century, outpacing global warming worldwide, the country’s national science agency said Tuesday. In its most comprehensive analysis yet of the impacts of climate change, the Commonwealth Scientific and Industrial Research Organization (CSIRO) painted a […] Read more
Grain handle up as CN books record freight in 2014
Canadian National Railway (CN) reported increased revenue from a higher grain and fertilizer handle as part of its “record full-year freight volumes” for fiscal 2014. The railway on Tuesday released fourth-quarter and 12-month results, booking substantially higher revenues and profit in 2014 over 2013. Montreal-based CN reported $844 million in net income on $3.207 billion […] Read more
U.S. grains: Soy falls as China cancels purchase, meal retreats
Chicago | Reuters –– Chicago Board of Trade soybean futures fell one per cent on Tuesday on technical selling and on signs of slowing export demand for U.S. supplies, traders said. Corn and wheat also declined. At the CBOT, March soybeans ended down 9-3/4 cents at $9.73-3/4 per bushel (all figures US$). March corn fell […] Read more
U.S. livestock: CME live cattle see biggest daily rise in six months
Chicago | Reuters — Chicago Mercantile Exchange live cattle posted their biggest one-day percentage increase in six months on Tuesday, driven up over two per cent by bargain hunting, traders said. Speculative buying and short-covering helped boost nearby trading months to their three-cents-per-pound price limit, which will result in an expanded limit to 4.5 cents […] Read more
Prairie crop acres forecast to rise across the board
CNS Canada –– Just about every major crop grown in the Canadian Prairies is forecast to come out a winner in the annual fight for acres this year, with unseeded area the only place where reductions are forecast, according to early estimates. “Most crops are likely to increase this year, just because we’ll get the […] Read more
Cargill likely to stay private, CEO says
Miami | Reuters — Cargill, one of the world’s largest privately held corporations and a top commodities trader, will likely remain private for at least another decade, its CEO said on Tuesday as he assessed challenges facing the 150-year old company. David MacLennan, who has led Cargill for the past 13 months, also revealed that […] Read more
France says EU orders repayment of $1.5B in ag subsidies
Paris | Reuters — The European Commission has asked France to repay 1.1 billion euros (C$1.54 billion) of farm subsidies dating back to 2008-2012, the French agriculture ministry said Tuesday. The Commission’s claim, which mainly relates to inaccurate declarations of farm area, initially amounted to around 3.5 billion euros before being negotiated down by France, […] Read more
Molson Coors sells U.K. malting business to Soufflet
London | Reuters — Molson Coors UK has agreed to sell its U.K. maltings business Shobnall Maltings to French grain buyer Soufflet Group, the two companies said in a joint statement Monday. The deal will allow Soufflet to enter the British malt market, the second largest in the European Union, while allowing Molson Coors to focus […] Read more