Chicago | Reuters — Brazilian meatpacker JBS is closing its U.S. plant-based foods business, Planterra Foods, after about two years, the company said on Monday. The closure signals increasing troubles in the plant-based protein sector, where U.S. sales are flattening. Colorado-based Planterra sold fake meat under the Ozo brand, but JBS will now focus on […] Read more
Meatpacker JBS to close U.S. plant-based foods business
U.S. grains: CBOT wheat retreats after nearing three-month high
USDA reported lower-than-expected corn stocks Friday; soy harvest progress exceeds expectations
Chicago | Reuters — Chicago Board of Trade wheat futures settled lower on profit-taking on Monday after approaching a three-month high reached during the previous session, traders said. The setback in wheat futures came after a reduced official estimate of the U.S. harvest and heightened tensions in the Ukraine war put renewed attention on global […] Read more
U.S. livestock: CME cattle, hogs up on technical buying, short-covering
Recession worries still loom large
Chicago | Reuters — Chicago Mercantile Exchange live cattle, feeder cattle and lean hog futures strengthened on Monday on technical buying and short covering, after recent selloffs were overdone, brokers said. Concerns about the risks for a global recession, which could reduce demand for beef, continued to hang over livestock markets, brokers said. Wall Street […] Read more
Pot producer Canopy Growth to shed retail stores
Company working on 'path to profitability'
In full cost-cutting mode, Canadian cannabis producer Canopy Growth Corp. is set to shed a significant chunk of its vertical integration model by selling off the retail pot shops it owns across the country. Smiths Falls, Ont.-based Canopy announced Sept. 27 it has an agreement in place with OEG Retail Cannabis — already the owner/operators […] Read more
Saskatchewan, Ontario ban birds at events
Bans back on as fall migratory season underway, avian flu cases stack up
At least two provinces now have bans in place on birds being brought to fall ag fairs and other such events, as cases of highly pathogenic avian influenza pick up again in Canada’s domestic birds. Ontario — which had such a ban in place this spring — reinstated it effective Sept. 23 through to Oct. […] Read more
Ford, GM upgrade their heavy-duty pickup profit machines
New features aimed at business productivity
Detroit | Reuters — Ford Motor Co. on Tuesday took the wraps off the latest version of its Super Duty pickup, providing a look at how the U.S. automaker will manage one of the biggest challenges confronting Detroit. The problem: How to modernize the largest combustion pickups to keep demand strong and profits flowing, without […] Read more
Prairie cash wheat: Weaker loonie underpins bids
U.S. wheat futures down on week
MarketsFarm — Spring wheat bids in Western Canada strengthened during the week ended Thursday, as sharp declines in the Canadian dollar boosted basis levels and more than made up for the bearish influence of softening U.S. futures. Average Canada Western Red Spring (CWRS, 13.5 per cent protein) wheat prices were up by $4.10-$5.40 per tonne […] Read more
Alberta harvest in home stretch as province dries up
MarketsFarm — As harvest progress in Alberta remained well ahead of the five-year average, soil moisture levels in the province continued to dwindle. With a gain of 12 points on the week, Alberta Financial Services Corp. (AFSC) estimated 87.6 per cent of the major crops were harvested. While that’s slightly below this time last year, […] Read more
U.S. grains: Wheat soars on new data, Russia’s annexation move
Corn climbs on smaller stocks; soybeans dip after bigger-than-expected stocks
Chicago | Reuters — Chicago wheat spiked on Friday, supported by a drastic cut to U.S. production estimates by the Agriculture Department, and Russia’s annexation of parts of Ukraine followed by increased U.S. sanctions. Corn climbed on smaller-than-expected U.S. stockpiles, while soybeans sank after USDA noted increased stores of the oilseed. The most-active wheat contract […] Read more
U.S. livestock: CME live cattle lower, underpinned by tight supply
October lean hogs also lower
Chicago | Reuters — Benchmark live cattle futures on the Chicago Mercantile Exchange eased on Friday, pressured by softening cash trade across the U.S. Plains, though markets remain supported by tightening supplies as producers continue to liquidate their herds, analysts said. “Our short-term supply issues are still front and centre. We’re running two-three per cent […] Read more
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