Reuters — Kellogg Co.’s quarterly sales dropped 6.6 per cent, missing analysts’ estimates, as demand slid further for its breakfast foods and snacks, which include Corn Flakes and Froot Loops. Kellogg also said a strong dollar was expected to hurt sales this year more than it had anticipated, mainly due to a sharp fall in […] Read more
Kellogg’s sales miss analysts’ estimates
Crescent Point pipeline leaks into Saskatchewan field
Reuters — A Crescent Point Energy pipeline in southwestern Saskatchewan leaked 100 cubic metres (630 barrels) of oil emulsion on Tuesday, a government official said on Wednesday. The spill happened on land near Pennant, about 45 km northwest of Swift Current, and did not affect wildlife or water that bears fish or is used for […] Read more
Saputo profit jumps, dividend raised
Reuters — Saputo Inc., one of Canada’s largest dairy producers, reported on Tuesday a 30 per cent jump in net earnings and boosted its quarterly dividend by 11 per cent. For Saputo’s fiscal 2017 first quarter, net income rose to $176.7 million, or 44 cents a share, from $136.4 million, or 34 cents, in the […] Read more
U.S. opens up to Brazil fresh beef imports
Brasilia | Reuters –– The U.S. and Brazilian governments exchanged food safety equivalence documents on Monday that will open up their respective markets to fresh beef exports, a window expected to boost Brazil’s exports to the U.S. by US$900 million. The U.S. Department of Agriculture said its Food Safety and Inspection Service had determined that […] Read more
IGC raises 2016-17 global wheat, corn forecasts
London/ Reuters – The International Grains Council has raised its forecasts for global corn production in the 2016-17 season, largely reflecting improved crop prospects in the United States. World corn (maize) production was upwardly revised to 1.017 billion tonnes, up from a previous projection of 1.003 billion and the prior season’s 968 million. “Better crop prospects […] Read more
Canada’s Maple Leaf Foods profit beats estimates
Canadian meat processor Maple Leaf Foods reported a quarterly profit that squeezed past estimates as lower operating costs and increased pricing more than offset a fall in volumes in its meat products business. The company, whose brands include Schneiders and namesake Maple Leaf, recently completed a program started in 2010 to boost earnings by shutting […] Read more
Saskatchewan premier ‘not satisfied’ with Husky spill response
Saskatchewan Premier Brad Wall said on Wednesday he was not satisfied with Husky Energy Inc’s emergency response to an oil spill into a river that supplies drinking water, and said the western Canadian province needed to consider ways to avoid a recurrence. The spill of 1,572 barrels of oil from a Husky pipeline into the […] Read more
EU approves Monsanto Roundup Ready 2 Xtend beans
Reuters — The European Commission on Friday approved imports of Monsanto’s Roundup Ready 2 Xtend genetically modified soybeans, opening up an important export market for North American soybeans and easing their global rollout. The decision removes a hurdle for Monsanto in its dealings with farmers and grain traders, who have to keep track of whether […] Read more
EU livestock farmers get compensation
Dairy farmers receive funds to offset price slump after scrapping of quotas
Brussels/Paris – Reuters — The European Union will grant an additional 500 million euros (C$721 million) to EU farmers struggling with a long-running crisis linked to low prices, notably in the dairy sector where it aims to reverse a boom in milk output after the scrapping of production quotas. European milk farmers have been struggling with […] Read more
La Nina seen likely to build in August-to-October period
New York | Reuters –– Following a damaging El Nino weather period, a U.S. government weather forecaster on Thursday said the La Nina weather phenomenon is favoured to develop during August through October 2016. The Climate Prediction Center (CPC), an agency of the National Weather Service, said in its monthly forecast there is a 55-60 […] Read more
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