Reuters — The top U.S. rail regulator ruled on Wednesday that all Class 1 railroads operating in the United States must provide detailed weekly freight service reports, a decision that cited months of congestion that have hit the grain and power industries particularly hard. Carriers must submit detailed data on average train speeds, dwell times […] Read more
All major U.S. railroads must report service stats
Feed ingredient unlikely to spread PED, experts say
Chicago/Paris | Reuters — The World Organization for Animal Health (OIE) said Wednesday an animal-feed supplement suspected of spreading a deadly pig virus is not likely to transmit the disease if manufacturers follow proper safety measures. Multiple studies suggest spray-dried porcine plasma, a supplement containing pigs’ blood that is fed to piglets, is not a […] Read more
Canpotex to upgrade Oregon port facility
Reuters — Canadian potash exporter Canpotex said Wednesday it will spend $140 million to upgrade its port export facility at Portland, Oregon, foreseeing an increase in shipments through the Pacific Northwest. The move comes as successive big North American harvests have created commodities bottlenecks along railways, impeding shipments of the crop nutrient potash from Canadian […] Read more
ICE weekly outlook: Canola up but hitting resistance
CNS Canada — ICE Futures Canada canola contracts moved higher during the week ended Wednesday, as values start to rebound slightly in the face of the advancing Prairie harvest. Despite moderate gains, one trader sees resistance ahead for values. “It is going to be tough to rally very far; buyers are going to back away […] Read more
CBOT corn poised to drop below US$3/bu.
CNS Canada — Chicago corn futures moved higher during the week ended Wednesday, but the U.S. Department of Agriculture’s monthly crop report, due Friday, has the potential to push values sharply lower, according to an analyst. “Traders are looking for a three-point increase in the yield for the U.S. corn, and that could draw nearby […] Read more
CN service resumes after fiery Sask. derailment
Toronto | Reuters — Canadian National Railway (CN) resumed service on a line in east-central Saskatchewan Wednesday after workers removed debris from a fiery train derailment that occurred a day earlier and led to evacuation of a nearby village. Twenty-six cars derailed near Clair, Sask., about 75 km east of Humboldt, on Tuesday. Six of […] Read more
U.S. grains: Soybeans slip on big harvest views, spreading against corn
Reuters — Soybeans slipped on Wednesday on rising expectations of a huge U.S. harvest and spread trading against corn. Corn rose on short-covering ahead of a key U.S. government crop report, while technical buying bolstered Chicago wheat. Spread trading between corn and soybeans accelerated soybeans’ declines, as the trade assumed corn may not see as […] Read more
U.S. livestock: Chicago live cattle again post record high
Chicago | Reuters –– Chicago Mercantile Exchange live cattle futures marked a record high for a second straight day on Wednesday in anticipation of firmer prices for slaughter cattle this week, traders said. October closed up 0.325 cent per pound at 166.1 cents, and December at 168.05 cents, up 0.2 cent (all figures US$). Investors […] Read more
Tighter supplies of higher-quality durum boosting bids
CNS Canada — Tight European supplies of high-quality durum are boosting North American prices for the grain — but there are also quality issues with the Canadian and U.S. crops limiting how much durum will actually be sold at those stronger prices. “There is a very large durum program to northern Europe this year,” said […] Read more
Cargill reports lower Q1 profit amid slumping grain markets
Chicago | Reuters — Cargill, a top global commodities trader, said Tuesday its quarterly earnings fell as global grain and oilseed prices tumbled in anticipation of a record-large U.S. harvest and as turmoil in some countries impacted its operations. Minneapolis-based Cargill noted its fiscal first quarter ended Aug. 31 was “marked by a great deal […] Read more