United Nations | Reuters — The United Nations backed Turkey and Ukraine on Thursday by calling for a 120-day rollover of an agreement allowing the safe export of grain from several Ukrainian Black Sea ports after Russia said it would only extend the pact for 60 days. The pact is due to expire on Saturday. […] Read more
UN backs Turkey, Ukraine in call for 120-day grain deal rollover
Text of original deal calls for 120, UN says
China to buy more homegrown soybeans for reserves
State-owned firms urged to prioritize domestic soy
Beijing | Reuters — China will step up buying of domestic soybeans by state reserves to encourage farmers to keep planting the crop, the agriculture ministry said on Thursday, as Beijing continues to push for greater self-sufficiency in oilseed. China started to increase soybean planting a year ago amid worries about its heavy reliance on […] Read more
Potato wart survey gives clean bill of health
Fields across Canada with a history of getting seed potatoes from P.E.I. tested negative
A national survey on the watch for potato wart has come back clean. On March 13, the Canadian Food Inspection Agency (CFIA) said results from their 2022 potato wart survey had not found any cases of the soil-borne fungus. The agency had tested nearly 1,500 soil samples from fields in British Columbia, the three Prairie […] Read more
U.S. regulator approves CP’s purchase of Kansas City Southern
Two U.S. grain grower groups warn of reduced rail competition
Washington | Reuters — The Surface Transportation Board of the United States said on Wednesday it had approved Canadian Pacific Railway’s US$31 billion acquisition of railroad company Kansas City Southern, with a series of environmental and competition conditions. The board, which oversees U.S. freight railroads, is imposing some requirements on the deal, which was agreed […] Read more
ICE weekly outlook: No floor in sight for overdone canola
'A lot of money playing around in canola right now'
MarketsFarm — The ICE Futures canola market was in freefall mode through the first half of March, hitting its weakest levels in over a year. While the losses may be looking overdone, the bottom remains to be seen. “This has been a brutal drop in canola,” said Bruce Burnett, director of markets and weather with […] Read more
CBOT weekly outlook: ‘Crazy times’ on the markets
U.S. stock markets, crude oil under pressure
MarketsFarm — Macroeconomic factors caused plenty of distress on the Chicago Board of Trade (CBOT) for the week ended Wednesday. Already dealing with whether the U.S. Federal Reserve will continue to raise key interest rates, the collapse of California-based Silicon Valley Bank and concerns over Credit Suisse have rattled global markets, which included a $4 […] Read more
U.S. grains: Chicago wheat, corn up on Chinese demand, Black Sea outlook
Soy dips on sharp fall in stock, oil markets pressure
Chicago | Reuters — Chicago wheat and corn futures closed higher on Wednesday on strong demand from China and uncertainty over a Black Sea grain export deal as a deadline loomed. Soybeans followed stock and oil markets down after Credit Suisse’s largest investor said it could not provide the Swiss bank with more financial assistance, […] Read more
U.S. livestock: CME cattle set multi-week lows as bank selloff hits Wall Street
April hogs, feeder cattle also lower
Chicago | Reuters — Chicago Mercantile Exchange cattle futures tumbled to multi-week lows on Wednesday as losses in U.S. stocks and fears about a banking crisis spilled into livestock markets, analysts said. The Dow and S+P 500 closed lower as problems at Credit Suisse piled more pressure on the banking sector. Declines in equities hit […] Read more
Manitoba Deere dealer expands westward reach
Enns Bros. to buy Shoal Lake's S.H. Dayton
A major dealer of John Deere equipment in Manitoba is extending its catchment in the province’s west to include a long-established Deere shop. Winnipeg-based Enns Bros. announced Friday it has a deal in place to buy the assets of S.H. Dayton Ltd., a Deere equipment dealership at Shoal Lake, about 100 km northwest of Brandon. […] Read more
Argentina soybeans go from ‘worse to worser,’ expert says
Heatwave now crisping early-planted crops
MarketsFarm — Extreme heat and drought throughout most of Argentina have taken a huge toll on that country’s soybean crop. Dr. Michael Cordonnier of Soybean and Corn Advisor said the forthcoming soybean harvest is now likely to produce 25 million to 30 million tonnes, a far cry from the 40 million to 45 million tonnes […] Read more
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