Chicago wheat rose for the fourth time in five sessions on Wednesday, in a rally that has been buoyed by strong export prospects and fund short-covering. Nearby corn ended slightly lower as traders adjusted positions ahead of Thursday’s U.S. Thanksgiving holiday. Soybeans surrendered earlier gains on profit-taking and weakness in soymeal. A major new wheat […] Read more
U.S. grains: Wheat climbs on growing global demand
U.S. grains: Corn, wheat tumble; soybeans scramble to flat finish
Corn and wheat prices fell on Tuesday, as the huge U.S. corn harvest wrapped up and investors banked profits from a wheat rally, while soybeans clawed back earlier losses. Corn lost 1.5 per cent as the previous day’s short-covering by funds dried up, leaving few supportive factors to offset big global supplies of the golden […] Read more
U.S. grains: Soybeans hit two-month high on export demand
Soybeans touched their highest price in more than two months on Monday, shaking off earlier losses on support from export demand and soaring soy meal. Chicago Board of Trade wheat futures hit a two-week high as worries about harvests in Argentina and Australia bolstered potential demand for U.S. wheat. Corn also rose, as funds covered […] Read more
Ritz sees railways doing ‘adequate’ job moving huge crop
Canada’s two main railways, Canadian National Railway (CN) and Canadian Pacific Railway (CP), have done an “adequate” job moving this year’s record harvests to port, Agriculture Minister Gerry Ritz said Wednesday. Prairie farmers produced the biggest grain and oilseed harvests on record this year, according to government estimates, straining the system of moving crops from […] Read more
Maple Leaf Foods posts loss from continuing operations
Canadian food processor Maple Leaf Foods on Wednesday reported lower-than-expected results for the third quarter, hurt mainly by weakness in its meat business. Excluding special items, the company, which is undergoing a major restructuring, posted a loss of one cent per share, compared with a year-earlier profit of 13 cents. Analysts on average had expected […] Read more
Canadian feeder cattle exports seen surging after Tyson move
A decision by Tyson Foods Inc to stop buying slaughter-ready Canadian cattle looks to accelerate the movement of lighter Canadian cattle to U.S. feedlots, industry sources say, damaging the already fragile Canadian beef sector. A Tyson spokesman said on Thursday that the biggest U.S. meat processor halted purchases of slaughter-ready cattle from Canada as of […] Read more
Maple Leaf Foods explores sale Of Canada Bread stake
Maple Leaf Foods said on Monday it may sell its controlling stake in Canada Bread Company as it determines whether to exit the bakery business and focus on meat products. Toronto-based Maple Leaf said it has recently completed a comprehensive review of opportunities to accelerate profitable growth across its bakery business. But before committing resources, […] Read more
Maple Leaf Foods explores sale Of Canada Bread stake
Maple Leaf Foods said on Monday it may sell its controlling stake in Canada Bread Company as it determines whether to exit the bakery business and focus on meat products. Toronto-based Maple Leaf said it has recently completed a comprehensive review of opportunities to accelerate profitable growth across its bakery business. But before committing resources, […] Read more
Canada’s livestock farmers big winners in EU deal, dairy a loser
Canada’s hog and beef cattle farmers, stinging from a trade dispute with the United States, look to be among the biggest Canadian winners in a free trade agreement sealed with the European Union on Friday. The deal looks less promising for Canadian dairy farmers, consumers of pharmaceutical drugs and government suppliers, who will face new […] Read more
Possible rail strike may further slow huge Prairie crop movement
A possible strike at Canada’s biggest railway is compounding a vexing problem in the second-biggest wheat exporting country — how to move the western crop belt’s abundant harvest to port with a strained transportation system. A dispute between Canadian National Railway and its Teamster-represented railroad conductors and yardmen raises the possibility of a strike or […] Read more
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