U.S. grain futures dived on Friday, with wheat falling 3.3 per cent for the biggest loss in more than a week, on the lowest export sales in months and traders locking in profits after big gains earlier this week. Soybean futures also dipped, posting their fourth straight weekly decline, one day after the U.S. Agriculture […] Read more
U.S. wheat, corn dive on poor exports, profit-taking
U.S. corn jumps as USDA cuts stocks estimate
U.S. corn futures surged five per cent to a three-week high on Thursday after the U.S. Agriculture Department slashed its forecast for global ending stocks and estimated the drought-plagued U.S. crop will be the smallest in six years. The government narrowly increased the number of U.S.-harvested corn acres, keeping the door open for further declines […] Read more
U.S. hogs at one-week high despite huge slaughter
U.S. hog futures jumped to a one-week high on Friday, gaining for the week for the first time since mid-July, on ideas that the downtrend in cash prices may be about over. The higher hog market occurred despite this week’s hog slaughter being largest in four and a half years. Gains were most pronounced in […] Read more
Pro Farmer tour puts corn and soy yields under USDA’s
This summer’s historic drought ravaged corn and soybean production around the U.S. Midwest more than the government is predicting, Pro Farmer said on Friday. The farm newsletter predicted U.S. corn and soybean harvest would fall below the U.S. Agriculture Department’s most recent outlook. If their forecast is realized, the size of both crops would be […] Read more
U.S. corn jumps near daily limit as crop withers
U.S. corn futures rose Monday by as much as the daily 40-cent trading limit, then settled within striking range of the record high of nearly $8 per bushel, as an unrelenting drought took further toll on the crop. The U.S. Agriculture Department, in a weekly report after the close of trading, cut its corn crop […] Read more
ADM to shut North Dakota ethanol plant in April
Archer Daniels Midland on Monday said it will close a North Dakota ethanol plant near the Manitoba border, marking the first such closure for the agribusiness giant that last month announced the elimination of 1,000 jobs. The facility at Walhalla, N.D., about 30 km south of Winkler, Man., will permanently close in April, resulting in […] Read more
Bargain-hungry Americans bid up price of “cheap” beef
With more Americans tightening their belts, demand for cheaper cuts of U.S. beef has actually pushed the price of select-grade beef higher than the generally more expensive choice cuts. For the first time in nearly two years, select-grade beef prices are above those for better-quality choice grade, according to U.S. government data. The data showed […] Read more