Daily news

Crop stress mounts in Saskatchewan – report

No Comments

Most crops throughout Saskatchewan are at the normal stage of development but heat and dry weather are creating stress, according to the latest weekly report from Saskatchewan Agriculture. “Many areas in the province remain very dry and crop conditions continue to decline due to hot temperatures and lack of rain,” the report said. “Topsoil moisture is quickly deteriorating and rain is needed for crops to fill and for topsoil to be replenished. Across the province, topsoil moisture on cropland is rated as three percent surplus, 32 percent adequate, 43 percent short and 22 percent very short.” As for spring cereals, 62 percent is at average stage of development, 29 percent is…
[Read more]

MacAulay vows to defend NAFTA at ag ministers meeting

No Comments

ST. JOHN'S, N.L. — Canada's agriculture ministers are gathered here to hammer out the next policy framework and discuss other sector concerns such as the impending NAFTA renegotiations. The U.S. released its list of negotiating priorities earlier this week and the first round of talks is scheduled to begin Aug. 16. Wheat, dairy and wine are all on that list. Federal minister Lawrence MacAulay yesterday said the government will stand by all its farmers throughout the talks. "I'm not the official trade negotiator," he said at a news conference announcing money for a Newfoundland and Labrador Federation of Agriculture project. "But without a doubt we will make sure that we have…
[Read more]

U.S. company buys maker of French’s Mustard

No Comments

LONDON, July 19 (Reuters) - U.S. spices maker McCormick & Co Inc has won the battle to buy Reckitt Benckiser Group's North American food business, paying a higher than expected $4.2 billion to add extra seasonings and sauces.

London-listed Reckitt said in April it was reviewing options for the unit, which includes French's mustard and Frank's RedHot sauce, to cut debt following its $16.6 billion purchase of baby formula maker Mead Johnson.

The sale, announced late on Tuesday, will reduce Reckitt's net debt to EBITDA ratio to 3.3 times from 4.1 times. It will enable…
[Read more]

Cattle futures jump Wed., initial cash prices fuel rebound

No Comments

By Theopolis Waters CHICAGO, July 19 (Reuters) - Chicago Mercantile Exchange live cattle futures gained sharply on Wednesday, fueled by short-covering in response to higher-than-expected preliminary cash prices, said traders. They said fund buying contributed to market advances. August ended 2.200 cents per pound higher at 117.275 cents and above the 20-day moving average of 115.838 cents. October closed 2.000 cents higher at 118.875 cents. Wednesday morning's Fed Cattle Exchange (FCE) yielded market-ready, or cash, sales from $118 to $118.50 per cwt. Animals there last week fetched $117.25 to $118.75 per cwt. FCE's generally steady cash returns encouraged bullish market…
[Read more]

Corn, soy rally Wednesday but canola drops on cooler Prairie weather

No Comments

In a reversal of recent market action canola and spring wheat settled a little lower on Wednesday but corn and soybeans rallied. The markets are bouncing around with each updated weather forecast for the Midwest, both for moisture and for heat. The heat in the Midwest was in the forefront today. There is rain in the seven day forecast for the upper Midwest but the big accumulations appear to be missing in western Iowa and Nebraska. Investment funds were net buyers of corn and soybean futures and net sellers of wheat futures, traders told Reuters. The loonie continued to rally above US79 cents, limiting the upside of the canola market. The recent cooler weather on the…
[Read more]

Cattle futures buckle under technical pressure

No Comments

By Theopolis Waters CHICAGO, July 18 (Reuters) - Chicago Mercantile Exchange live cattle futures closed lower on Tuesday, hit by profit-taking and technical selling, said traders and analysts. They said some funds sold August futures and simultaneously bought the October contract. Positioning in advance of the U.S. Department of Agriculture monthly Cattle-On-Feed report on Friday exerted more market pressure. August ended 1.875 cents per pound lower at 115.075 cents and below the 20-day moving average of 115.769 cents. October closed 1.750 cents lower at 116.875 cents. Investors are anxiously awaiting this week's sale of market-ready, or cash, cattle that a week ago brought…
[Read more]

Canola, spring wheat close higher on weather Tuesday

No Comments

Weather concerns helped to lift spring wheat and canola futures on Tuesday. November canola closed up $4.30 or 0.85 percent at $510.50 per tonne. Kansas and Chicago wheat contracts closed lower, but Minneapolis December wheat jumped up 1.7 percent or 13 1/4 cents, to close at US$7.83 ¼ per bushel. American crop markets were higher earlier in the day on forecasts that were a little hotter and drier for the Midwest, but then mid-day forecast models put a little more moisture in the outlook and corn and soybeans closed off their highs. The seven-day forecast now has heavy accumulations of four inches or more for southern Minnesota and Wisconsin and lesser but still welcome…
[Read more]

Needed rain hits parts of Manitoba: Crop Report

No Comments

July 18 (CNS Canada) – Many fields in Manitoba received needed rain last week, although central and western regions could still use more, according to the latest weekly report from Manitoba Agriculture. Most crops are in the flowering and grain-filling stages as above normal temperatures advanced plant development. Pastures and hay land areas in dry areas could also use more moisture. The southwest region, one of the province’s driest, received spotty rain but most areas saw only about 10 millimetres. Moisture conditions and crop development are variable. The northwest region had high temperatures and wind with plant development showing…
[Read more]

CME lean hogs rise on cash price discounts, cattle up

No Comments

By Theopolis Waters CHICAGO, July 17 (Reuters) - Chicago Mercantile Exchange lean hog futures finished higher on Monday, helped by their discounts to cash prices and technical buying, traders said. Thinly-traded July , which will expired at noon CDT settled down 0.200 cent per pound at 92.400 cents and almost par with CME's hog index for July 13 at 92.78 cents. Most-actively traded August closed 0.875 cent per pound higher at 80.775 cents. October finished 0.875 cent higher at 68.050 cents, and above the 100-day moving average of 67.368 cents. Fundamentally, market bears contend that cash prices are close to peaking seasonally as more hogs come to market in the months…
[Read more]

Australian drought pushing wheat outlook down

No Comments

SYDNEY, July 17 (Reuters) - Australian wheat production is on course to miss official forecasts by more than 20 percent as dry weather crimps yields in the world's fourth-largest exporter, exacerbating fears of tightening global supplies. That would put production near 20 million tonnes, down from the official forecast from June of 24 million. The expectation of Australia's shortfall follows news that one of the worst heat waves in decades is devastating wheat crops in southern Europe. Output in the United States and Canada is also tumbling due to hot, dry weather. Growing concerns about dwindling global supplies have already pushed benchmark global prices to a two-year…
[Read more]
Load more articles
x3x3x3x3x3x3