Chicago | Reuters — U.S. corn futures slumped to a five-year low Friday while soybeans notched a fresh four-year low amid ideal weather conditions for record harvests in the U.S. Midwestern crop belt, while new highs in the dollar made the supplies less competitive in global markets. Wheat futures were mostly lower, pressured by prospects […] Read more
U.S. grains: Corn at five-year low, soy four-year low on accelerating harvest
U.S. livestock: Nearby CME live cattle close up three-cent limit
Chicago | Reuters –– Chicago Mercantile Exchange live cattle nearby trading months closed up the maximum three-cents-per-pound daily price limit, driven by short-covering and fund buying, traders said. October and December finished at 158.45 and 162.1 cents/lb., respectively (all figures US$). Deferred contracts may have drawn support from the outlook for tight supplies in the […] Read more
PEDv shrinks U.S. hog herd, but low-cost feed limits decline
Reuters — The U.S. hog herd continued to shrink during the June-August quarter as a deadly pig virus lingered on farms, but the decline was less than expected, a U.S. Department of Agriculture report showed on Friday. The data also showed that producers least affected by the porcine epidemic diarrhea virus (PEDv) added to their […] Read more
EU, Canada dismiss German minister’s threat to block trade pact
Ottawa | Reuters — The European Union and Canada on Friday dismissed threats by a top German politician to block a free trade deal the two sides wrapped up in August after five years of often difficult negotiations. The deal could increase bilateral trade by a fifth to 26 billion euros (US$34 billion) and is […] Read more
Canada, EU wrap free trade talks
The ratification process can get underway on a Canada/European Union free trade deal now that negotiations have formally concluded, the federal government announced Friday. Prime Minister Stephen Harper, European Council president Herman Van Rompuy and European Commission President Jose Manuel Barroso released the negotiated text of the Canada-EU Comprehensive Economic and Trade Agreement (CETA) in […] Read more
Wrigley exec to lead McCain’s in Canada
The president of the Canadian arm of confection maker Wrigley is moving into the head office at McCain Foods’ Canadian business. Shai Altman will take the post of McCain Foods’ president, Canada, effective Oct. 20, replacing Darryl Rowe, who’d held the post since 2010 and announced late last year he’d be leaving the company. Altman, […] Read more
Pea prices steady but questions loom over water damage
CNS Canada –– Questions over quality could be the biggest factor facing pea farmers in Western Canada this year, as a wet summer has caused sprouting, staining and bleaching in crops near the Manitoba/Saskatchewan border. “It was the rain after seeding that hurt us,” said Shannon Friesen, a regional crop specialist with the Saskatchewan government […] Read more
Sky-high U.S. meat prices will continue, USDA says
Washington | Reuters — Prices for many U.S. meats, already at record highs, continued to increase on a combination of drought and disease that have culled herds, the U.S. Department of Agriculture said Thursday. Retail beef and veal prices spiked by 4.2 per cent from July to August, the largest month-on-month increase since the end […] Read more
U.S. livestock: CME hogs slump as Wall Street tumbles
Chicago | Reuters –– Chicago Mercantile Exchange lean hogs closed lower on Thursday, pressured by active U.S. stock market selling as the dollar surged to a four-year high, traders and analysts said. The strong dollar makes U.S. goods including pork less attractive to foreign buyers. Hog futures’ losses mounted after nearby trading months drifted below […] Read more
U.S. grains: Wheat sinks as dollar rises
Chicago | Reuters — U.S. wheat futures plunged more than one per cent on Thursday to a four-year low on fears that a rising dollar could hamper global demand for U.S. exports as global supplies rise to a record high. Corn and soybeans dropped about one per cent on spillover pressure from sinking wheat and […] Read more