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Slow U.S. grain harvest, fast use easing squeeze on storage

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By Christine Stebbins CHICAGO, Oct 21 (Reuters) - With rain delaying the U.S. harvest and domestic and export use of crops strong, the squeeze on storage space in the world's biggest food exporter is not as bad as many feared, a top grain market analyst said on Tuesday. "We've got a lot of product to store, no question about it. But the fact that we are stretching harvest out means that every day you are consuming another 70 million bushels," Darrel Good, agricultural market economist at the University of Illinois in Champaign, said in an interview. "That reduces your storage dilemma a little bit," he added. Iowa and Illinois, the top two corn and soy states, are ground zero for…
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WTO chief asks for ideas as trade deal hits brick wall

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GENEVA, Oct 21 (Reuters) - World Trade Organization chief Roberto Azevedo will begin consulting with WTO ambassadors on Wednesday to try to work out how to pick up the pieces after global trade negotiations appeared to suffer a final defeat on Tuesday. "Whether, and how, we make progress will be in your hands," Azevedo told the envoys at a meeting of the WTO General Council. Some diplomats had said the meeting was the final deadline for India to stop blocking a global agreement or they might give up negotiating and split off into smaller groups instead. That would undermine the role of the WTO, which is based on global rules accepted by all its members. India plunged the WTO back…
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CME live cattle slide from record high on profit-taking; hogs lower

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By Theopolis Waters CHICAGO, Oct 21 (Reuters) - Chicago Mercantile Exchange live cattle futures closed lower on Tuesday on profit-taking after hitting an all-time high earlier in the session, traders said. October closed down 1.350 cents to 166.550 cents per pound, and December was 0.975 cents lower at 167.050 cents per lb. Upward CME live cattle momentum stalled after investors priced in expectations for market-ready, or cash, cattle prices to be the same or better than a week ago. Last week, cash cattle in the U.S. Plains traded mostly at $164 per hundredweight (cwt). Feedlots held back cattle rather than replacing them, while feeding animals cheaper corn with the intention…
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Strong U.S. market fails to lift canola

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Bu D'Arce McMillan Markets Editor Twitter @ darcemcmillan A strong day in U.S. crop markets did not wash into the ICE Canada canola futures market. Canola trade did not have a clear trend with the market up and down several times in a narrow range. Canola was held back as the loonie gained almost a half cent and the market expects increased Prairie farmer deliveries. Soybeans, soy meal and corn jumped more than two percent higher, supported by slower than expected harvest progress in the U.S. Midwest. Minneapolis spring wheat edged up less than one percent. Canola fell, with the November contract down $1.40 or 0.65 percent, to $404 per tonne. The U.S. Agriculture…
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Record-breaking warm weather helps Sask. harvest

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Farmers wrapping up harvest operations in Saskatchewan got an assist from Mother Nature yesterday. In Leader, Sask., temperatures climbed to 26.6 C, while multiple locations across the province recorded record highs. At 23.2 C, a 100-year-old record was broken in southern Saskatchewan in Estevan. "When they're old like that and we have a really established record, we consider that quite significant," said Terri Lang, a meteorologist with Environment Canada. Records were also recorded in Assiniboia, Melfort, Moose Jaw, Nipawin, North Battleford, Regina, Rosetown, Saskatoon, Swift Current, Watrous and Wynyard. Saskatchewan is seeing a warmer-than-average October. In Regina,…
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Latest Manitoba crop report

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Harvest of spring cereals is about 95 percent complete, canola 90 percent, flax 30 percent, edible beans 95 percent and soybeans 70 percent. Sunflowers are 60 percent and grain corn is 15 to 20 percent complete. Lower than average yields were reported in some areas because of extreme weather conditions during the growing season. The number of winter wheat acres seeded this fall is down substantially. Germination and stand establishment are rated at good to excellent. Fall field work is on-going. SOUTHWEST Superb harvest progress was made. The overall cereal harvest is estimated at 90 percent complete. Most of the remaining cereal harvest includes late seeded…
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Cargill loses bid to stop ex-manager from working for rival JBS

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(Reuters) — A federal judge has denied Cargill Inc.'s attempt to block a former executive of its meat-packing unit from working for rival JBS SA to prevent the potential loss of trade secrets. U.S. Judge Raymond Moore in Denver ruled on Monday that although Jason Kuan "did once have specific knowledge of Cargill's trade secrets, his knowledge now is generalized." In August, privately held Cargill sued Kuan, who led a meat unit in Canada, alleging that he copied hundreds of confidential documents after he received a job offer from JBS in Colorado. Cargill, one of the top U.S. meat producers, did not dispute that Kuan returned the documents, according to a court filing. The…
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Syngenta lawsuit against Bunge over GMO corn revived on appeal

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CHICAGO (Reuters) — A federal appeals court has opened the door for Syngenta Seeds to revive a lawsuit it brought against Bunge North America in 2011 over the agribusiness company's refusal of a type of genetically modified corn. An opinion in the case came on Monday as Syngenta and its parent company, Swiss-based Syngenta AG, have become the target of lawsuits over the same variety of corn, Agrisure Viptera. A three-judge panel of the U.S. 8th Circuit Court of Appeals ordered a district court to review whether Syngenta had standing to bring a claim of false advertising against Bunge in 2011 after Bunge began refusing to accept Viptera corn because it was not approved for imports by…
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Australia eyes ambitious dam building plans to boost agriculture

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SYDNEY, Oct 20 (Reuters) - Australia's government is looking at investing in nearly 30 irrigation schemes and reigniting a long-stalled program of dam building to combat growing water shortages constraining agricultural production. The country is a leading producer and exporter of crops such as wheat, sugar and cotton, but output faces risks from prolonged drought across much of the Australian east coast. Australia has previously floated ambitious plans to use dams and irrigation to develop marginal land in the outback, but financial and environmental constraints mean it has not built a major new dam in decades. According to a government policy paper released on Monday, the amount…
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Canada warns U.S. to repeal COOL or face consequences

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Canada is gearing up to retaliate against the United States after its third victory in the ongoing country-of-origin labelling dispute. "We will target everything from California wine to Minnesota mattresses, not to mention the over $2 billion in U.S. beef and pork sales to Canada," said federal agriculture minister Gerry Ritz. The World Trade Organization ruled that U.S. amendments to the COOL regulation continue to discriminate against live imports of cattle and hogs into the U.S. marketplace. COOL was implemented in 2008. On May 23, 2013, the U.S. revised the regulation in an attempt to come into compliance with the WTO. Canadian livestock and meat producers said the…
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