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Live cattle surge to 14-month high on cash gains

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CHICAGO, March 22 (Reuters) - U.S. live cattle futures surged to the highest levels in 14 months on Wednesday, lifted by investment fund buying and steep gains at a weekly online cash cattle auction, traders and analysts said. Chicago Mercantile Exchange feeder cattle rose by as much as 3 percent while lean hogs were mostly lower. CME April live cattle futures settled 2.550 cents higher at 122.450 cents per pound, notching their biggest daily gains in two months. Most-active June cattle futures finished 2.725 cents higher at 113.775 cents. Sales at the weekly Fed Cattle Exchange auction averaged $133.35 per cwt, up from $128.40 per cwt last week, according to the auction…
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UK royals’ sibling rivalry? Princess Anne says GMO crops have benefits

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ONDON, March 22 (Reuters) - Britain's Princess Anne may have sparked some royal sibling rivalry after saying genetically modified crops had real benefits to offer, putting her at odds with her older brother Charles who says they would be an environmental disaster. In an interview with BBC radio, Anne said she would grow GMO crops on her farming estates, adding she doubted that the technology had many downsides. That view contrasts sharply with that of heir-to-the-throne Charles, who has long been an ardent campaigner for organic produce, once warning the widespread use of GM crops would "cause the biggest disaster environmentally of all time.” "GM is one of those things that…
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U.S. farmers steer Trump away from Mexico trade war

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By Jason Lange and Alexandra Alper GARNER, Iowa/MEXICO CITY, March 22 (Reuters) - Farmers in the U.S. agricultural heartland that helped elect Donald Trump are now pushing his administration to avoid a trade dispute with Mexico, fearing retaliatory tariffs that could hit over $3 billion in U.S. exports. The value of exports at risk is based on a Reuters analysis of a tariff list which Mexico used in a trucking dispute six years ago and which Mexican officials have said could serve as a model if President Trump sets new barriers to Mexican goods. Pork producers contacted Trump's transition team soon after the Nov. 8 election to stress that tariff-free access to Mexico has made it…
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Canola holds near $500, rain forecast weighs on winter wheat

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Old crop canola futures threatened to slip below the $500 per tonne level on Wednesday but new crop November edged slightly higher for the second day. It looks like the market is trying to keep new crop canola close to the psychologically important $500 level. CLICK HERE FOR WEEKLY VIDEO CROP MARKET UPDATE In both canola and soybeans, the May and November contracts are almost the same, with canola very close to $500 a tonne and soybean right around US$10 a bushel. WHEAT Winter wheat contracts fell about one percent but spring wheat was little changed. Rain expected over…
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Brazil’s agriculture ministry, police say meat problems not widespread

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By Stephen Eisenhammer LAPA, Brazil, March 21 (Reuters) - Brazil's federal police and agriculture ministry said late Tuesday that sanitary and corruption problems found in the nation's meatpacking industry were isolated incidents, an attempt to tamp down a scandal that has led the Latin American nation's biggest export markets to ban its meats. Since police launched raids on processing plants and company offices in seven states on Friday, President Michel Temer's government has sought to downplay the crisis in the meatpacking sector, one of the bright spots of an economy struggling with its worst recession on record. But Hong Kong, Japan, Canada, Mexico and Switzerland all…
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Canola mixed Tue. but wheat falls on rain in Plains

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May canola on Tuesday slipped slightly but new crop November was slightly higher. The main market mover was U.S. weather. The seven-day rain forecast for the United States shows much of the Midwest and plains are expected to get moisture. Accumulations are expected to be large in the Midwest. Eastern parts of winter wheat states Kansas, Oklahoma and Nebraska should get significant amounts with accumulations dropping off in the western parts of the wheat belt. Nevertheless, winter wheat farmers will welcome any moisture they can get. The rain weighed on wheat futures the most with May Kansas hard red winter down almost 1.6 percent and Minneapolis hard red spring down 1.8…
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Brazil meat scandal creates opportunities for other exporters

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CHICAGO, March 20 (Reuters) - Global beef buyers will likely need to cobble together supplies from several nations if a scandal persists in Brazil's meat sector because supply constraints and politics are already limiting trade flows, market analysts said on Monday. China suspended imports of all meat products from Brazil, the world's top beef exporter, as a precautionary measure after inspectors there were accused of taking bribes to allow sales of tainted food. South Korea, the EU and Chile also curtailed meat imports from Brazil. Brazilian police on Friday named BRF SA and JBS SA, along with dozens of smaller rivals, in a two-year probe into how meat packers allegedly paid off the…
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Chickpeas in demand but poor seed supply to limit Canadian acres

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Winnipeg, March 21 (CNS Canada) – Tight chickpea supplies will keep Canada from taking advantage of fresh demand from Turkey, while any acreage increases will also be hampered by poor seed supply. Turkey has a domestic chickpea shortage and has recently temporarily lifted import tariffs on the pulse. Turkey has bought Canadian chickpeas in the past, but the country typically wants nine and ten millimetre Kabulis, which, because of the poor quality and yields of 2016, are not available from Canada. “With the incredible market in the fall, the vast majority of all forms of chickpeas are gone; pet-food, human consumption, it’s just all gone,” said Colin Young of Midwest Grain in…
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Diesel prices soften but watching U.S. infrastructure plan

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WINNIPEG, March 21 (CNS) - Sinking prices for crude oil and a softer Canadian dollar have kept diesel prices relatively low for Canadian farmers in 2017, and they could be heading lower, as long as U.S. President Donald Trump’s infrastructure plan doesn’t get in the way. “I would probably say in Canada you’re going to see numbers trickle lower here in the next month,” said Tom Kloza of the Oil Price Information Service in New Jersey. As of March 21, diesel prices across the Prairies were around C$1 per litre. Kloza says North America is “sort of scraping bottom” when it comes to prices for oil, gas and diesel. One reasons for that was the mild winter across much of…
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India farms may abandon pulses as prices plunge

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LATUR, India/NEW DELHI, March 21 (Reuters) - Millions of Indian farmers look set to switch away from growing pulses and oilseeds after a government campaign to boost output became a victim of its own success by flooding markets with the crops, used in everything from fragrant curries to sticky desserts. Storehouses are overflowing with lentils and soybeans after waves of farmers answered Prime Minister Narendra Modi's call last summer to ramp up local production to cut a hefty import bill. Seeded acres increased and the first good monsoon after two disappointing years led to strong yields. If Indian farmers now shift to planting crops such as sugarcane and wheat, it could drag on…
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