Chicago | Reuters –– U.S. soybean futures fell Wednesday and ended 2014 with their biggest loss in a decade as bumper production in the U.S. and South America replenished global supply of the protein-rich oilseed. Corn and wheat also fell during the session and posted annual declines against a backdrop of ample worldwide supply. But […] Read more
U.S. grains: Bumper crops drag soy to biggest yearly loss in decade
U.S. livestock: CME live cattle end session weaker
Chicago | Reuters — Chicago Mercantile Exchange live cattle finished lower on Wednesday on year-end profit taking, trader said. However, futures extended their yearly winning streak to six in a row after finishing up 23 per cent for 2014 amid tight supplies after years of drought, an analyst said. Upward-trending wholesale beef prices and stronger-than-expected […] Read more
Hong Kong culls chickens, suspends imports after H7 bird flu found
Hong Kong | Reuters — Hong Kong began culling 15,000 chickens on Wednesday and suspended imports of live poultry from mainland China for 21 days after the H7 bird flu strain was discovered in a batch of live chickens from the southern province of Guangdong. Authorities also ordered the closure of the wholesale poultry market, […] Read more
U.S. drone rules remain in hangar in 2014
New York | Reuters — The United States missed a year-end deadline for publishing new rules on remote-control aircraft, delaying an eagerly awaited step toward using drones in everything from farming to package delivery. Businesses have been clamouring for rules to allow commercial drone flights, fearing the U.S. is falling behind other countries in developing […] Read more
Ex-Viterra chief dropped as Dreyfus’ CEO-elect
The terms by which Mayo Schmidt would lead Louis Dreyfus’ commodities business have led the company and its chosen CEO to part ways. Offering no further details, Louis Dreyfus Commodities said Wednesday the company and the former Viterra CEO “have jointly decided not to proceed” with Schmidt taking the helm, “while retaining the highest mutual […] Read more
Que. Caterpillar dealer to shed ag equipment arm
Caterpillar’s dealer for Quebec and the Maritime provinces is set to sell its Quebec farm equipment business to a chain of Agco dealerships. Hewitt Equipment — the authorized Cat dealer for Quebec and western Labrador and, through its Atlantic Tractors and Equipment arm, for the Maritimes — announced recently it will sell its ag division […] Read more
Buhler books near-record sales
Winnipeg tractor and farm equipment maker Buhler Industries logged 2014 as its third-biggest sales year ever, but expects lower commodity prices to weigh on next year’s results. Buhler last Wednesday reported year-end profit of $12.5 million on $325.5 million in sales, down from its record net ($19.9 million on $340.3 million in sales) in 2013 […] Read more
U.S. livestock: CME live cattle close weaker on profit taking
Chicago | Reuters — Chicago Mercantile Exchange live cattle finished lower in choppy trading on Tuesday, pressured by profit-taking that outpaced initial buying led by bullish fundamentals, traders said. December, which will expire on Wednesday, closed 0.625 cent per pound lower at 165.875 cents, and February was down 0.3 cent at 164.7 cents (all figures […] Read more
U.S. grains: Wheat drops on technical selling, drags corn lower
Chicago | Reuters — U.S. wheat futures tumbled on Tuesday on profit taking and technical selling and as the dollar’s strengthening against the euro added to already-challenging U.S. wheat export prospects. Corn followed wheat lower in a profit-taking setback after the market hit a near six-month high the previous day, while soybeans closed lower after […] Read more
Tax deferrals kick in for soaked and parched West
Ranchers under pressure from this year’s drought in B.C. and northwestern Alberta and excess moisture in western Manitoba and eastern Saskatchewan may get income tax deferrals for their trouble. The federal government on Tuesday released its first list of designated areas for 2014, within which eligible producers who sold breeding livestock may be allowed to […] Read more