Chicago | Reuters — Chicago Mercantile Exchange lean hog futures rose for a second straight session on Monday, driven by improved wholesale pork prices and a winter storm churning in parts of the upper western Corn Belt, said traders. April hogs closed 1.225 cents/lb. higher at 68.8 cents, and May finished 1.1 cents higher at […] Read more
U.S. livestock: Pork demand, wintry weather boost CME hogs
Pot firm Aurora’s CanniMed deal gets regulatory nod
Reuters — Canada’s No. 2 marijuana producer Aurora Cannabis on Wednesday received final regulatory approval for the purchase of smaller rival CanniMed Therapeutics, which would make it the world’s most valuable weed producer. The approval of the $1.1 billion deal from the Competition Bureau follows months of tensions between the companies and comes at a […] Read more
India to double state purchases of oilseeds, pulses
New Delhi | Reuters — India’s cabinet approved on Wednesday doubling state purchases of oilseeds and pulses from farmers, in a bid to boost local output and prevent distressed sales. The amount that state agencies guarantee to buy at pre-set prices will double to 190 billion rupees (C$3.7 billion) for a five-year period ending in […] Read more
Norway to upgrade ‘doomsday’ seed vault
Oslo | Reuters — Norway plans to spend 100 million Norwegian crowns (C$16.1 million) to upgrade a doomsday seed vault on an Arctic island built 10 years ago to protect the world’s food supplies, the government said on Friday. The Svalbard Global Seed Vault is meant as a natural deep freeze to back up the […] Read more
U.S. livestock: CME live cattle extend losses
Chicago | Reuters — Chicago Mercantile Exchange live cattle on Thursday lost ground for a second day in a row, weighed down by lower cash prices and an increased supply outlook, traders said. They said sell stops and fund liquidation contributed to market declines. Some investors adjusted positions before the U.S. Department of Agriculture (USDA) […] Read more
KFC closes most U.K. stores due to chicken shortage
London | Reuters — Fast-food chain KFC said on Monday it had been forced to close hundreds of its British stores because of a shortage of chicken. The problem arose at the weekend after the chain switched its delivery contract to DHL, forcing the majority of its 900 outlets in Britain to shut. “We’ve brought […] Read more
U.S. livestock: Weaker cash, pork prices drop CME hogs
Chicago | Reuters — Chicago Mercantile Exchange lean hog futures on Friday were pressured by lower cash and wholesale pork prices, said traders. They said February futures lost technical support while other contracts triggered sell stops after drifting below Thursday’s lows. February hogs closed down 0.225 cent/lb. to 73.175 cents, below the 20-day moving average […] Read more
U.S. Congress near deal on tax law’s impact on grain market
Washington | Reuters — U.S. lawmakers are close to resolving a problem with the new federal tax law that gives grain co-operatives an unintended market edge over private companies, but have had a hard time getting agreement among members of the farm sector, a Republican senator said Thursday. A provision in the Republican tax overhaul […] Read more
La Nina seen likely to fade by spring
Reuters — The current La Nina weather cycle is likely to transition into more neutral conditions by spring, a U.S. government weather forecaster said Thursday. La Nina is characterized by unusually cold ocean temperatures in the equatorial Pacific Ocean and is linked with floods and droughts. It is the opposite phase of what is known […] Read more
U.S. livestock: CME live cattle end mostly weaker
Chicago | Reuters — Most Chicago Mercantile Exchange live cattle contracts on Thursday posted modest losses after a volatile session, as investors waited for cattle in the U.S. Plains to change hands, traders said. February futures drew support from wintry weather across the western Corn Belt that threatens to disrupt livestock production. February live cattle […] Read more
Cyber-Savvy Farmer
