Chicago | Reuters –– U.S. corn and soybean futures jumped as much as two per cent on Thursday, rebounding from two-week lows reached in the previous session, in a rally tied to technical buying and renewed export demand for the crops. Chicago Board of Trade corn rose for the first time in five sessions, while […] Read more
U.S. grains: Corn, soy rebound from two-week lows on exports
Argentina sees wheat harvest of 12 million tonnes
Buenos Aires | Reuters –– Argentine farmers will harvest 12 million tonnes of wheat in the 2014-15 crop year, the agriculture ministry said in its monthly report Thursday, issuing its first wheat crop estimate of the season. Argentina’s 2013-14 wheat harvest was 9.2 million tonnes, according to official data. “Losses have been seen in parts […] Read more
Battling graft, China to overhaul grains import quota system
Beijing | Reuters — China plans to revamp the scheme it uses to allocate quotas for agricultural imports, as part of efforts to stamp out corruption and to rein in record state grain stockpiles, according to government and industry sources. The low-tariff quotas, which are sanctioned under China’s membership of the World Trade Organization, are […] Read more
Ceiling still far off for rising feed barley market
CNS Canada — Feed barley prices in Western Canada have climbed steadily higher over the past few months and have more room to go, before strong prices inevitably make U.S. corn imports more attractive. “The feed barley market is hot,” said Jerry Klassen, manager for Swiss-based GAP SA Grains and Products in Winnipeg. Aadverse weather […] Read more
U.S. livestock: CME hogs fall on profit-taking; live cattle end mixed
Chicago | Reuters — Chicago Mercantile Exchange lean hogs closed lower Thursday on profit-taking and fund selling that erased Wednesday’s gains, traders said. December closed down one cent per pound at 90.775 cents, and February 0.75 cent lower at 90.9 cents (all figures US$). Anticipation of weaker-trending cash and wholesale pork prices stirred bear spreads, […] Read more
Obama to offer deportation relief to 250,000 farm workers, union says
Washington | Reuters — U.S. President Barack Obama’s immigration reforms would lift the threat of deportation for at least 250,000 undocumented people who work on U.S. farms, Arturo Rodriguez, president of the United Farm Workers union, said Wednesday after meeting with Obama. “We were pleased to learn from the president today that at least 250,000 […] Read more
Man. farmers to get compensation for swamped land
Farmers around southern Manitoba’s Portage Diversion whose fields were submerged by the province’s flood-control efforts this summer can expect some compensation. The province on Wednesday pledged up to $1.15 million to compensate growers following last summer’s use of the Portage Diversion to help regulate water flow and protect rural and urban residents along the Assiniboine […] Read more
Ontario eyes expanding production insurance
Ontario’s government plans to give itself more latitude to expand its farm production insurance offerings. The province said Wednesday it’s proposing to amend its Crop Insurance Act and grant itself authority to expand production insurance beyond just crops. That authority already is available to every other provincial government in Canada, the province noted. “Giving more […] Read more
U.S. farmers set for huge government payouts despite bumper harvest
Washington/Chicago | Reuters –– U.S. farmers are about to reap a bumper harvest not just in corn and soybeans but also in new subsidies that could soar to US$10 billion, blowing a hole in the government’s promise that its new five-year farm bill would save taxpayers money. If payments for 2014, the first year the […] Read more
CBOT soy, corn retreating with harvest pressure
CNS Canada — Soybean and corn futures at the Chicago Board of Trade moved lower during the week ended Wednesday, retreating from the nearby highs hit the previous week as increased farmer and speculative selling weighed on values. Both soybeans and corn hit three-month highs last Wednesday (Nov. 12) before turning lower in subsequent days. […] Read more