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Argentine farmers have ‘corn fever’ as 2016-17 season approaches

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BUENOS AIRES, June 28 (Reuters) - "Gold is not the only thing that shines. There is also corn," according to a seed company ad in Argentina, touting the hashtag #LaFiebreDelMaiz (Corn Fever). It illustrates the excitement in the world's No. 4 maize exporter for the start of 2016-17 planting in September, which will be the first full season under the free-market policies of President Mauricio Macri. Macri, who took office in December, got rid of the export taxes and quotas for corn and wheat that had existed under former president Cristina Fernandez. "Corn has flown. It's impressive. In Don Mario today there aren't any bags of corn," said Obdulio San Martin, the general manager for…
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European Commission to extend glyphosate licence for 18 months

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BRUSSELS, June 28 (Reuters) - The European Commission is extending by 18 months its approval for weed-killer glyphosate, used in Monsanto's Roundup, Health Commissioner Vytenis Andriukaitis said on Tuesday. Contradictory findings on carcinogenic risks have thrust the chemical into the centre of a dispute between EU and U.S. politicians, regulators and researchers. Campaign groups urged governments to exercise caution and EU member states repeatedly failed to take a decision to extend the licence approval, which expires at the end of the month. "The Commission will follow our legal obligation. We know very well that we have a deadline of June 30. We will adopt an extension for…
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LIVESTOCK-Cattle up on short-covering, hogs mostly higher

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Chicago Mercantile Exchange cattle futures gained on Tuesday, recovering a little from last week’s multi year lows. Live cattle future rose for a second day with the August contract climbing 0.650 cent to 112.675 cents per pound. The August feeder cattle contract rose 0.550 to 140.725 cents per pound. The live contract rose on short-covering and bull-spreading amid expectations for gains in cash cattle prices this week, traders and analysts said. A rebound in stock markets following declines tied to Britain's decision in a referendum last week to exit the European Union also underpinned cattle futures. Cattle sometimes move in tandem with equities as better returns can boost…
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Canola and soybeans edge higher for second day

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Rising soybeans helped lift canola futures for a second day on Tuesday. Soybeans, which enjoy a tighter supply and demand situation than other crops traded in Chicago, was supported by weather forecasts that show some hotter than average weather in early July. The European forecast model predicted highs for parts of the Midwest near 100 degrees Fahrenheit (38 Celsius) late next week. The U.S. Department of Agriculture on Monday afternoon said the soybean crop was rated 72 percent good to excellent, down 1 percentage point from a week earlier. November canola closed up $2.30 a tonne or 0.48 percent and November soybeans were up 15.5 cents a bushel or 1.4 percent. Soybean meal was…
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China’s COFCO to open Canada grain trading office by autumn

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WINNIPEG, Manitoba, June 28 (Reuters) - China's COFCO Agri will open a Canadian crop trading office in Winnipeg by the time farmers harvest their new crops, the state-owned agricultural trader said on Tuesday. The new office, which Reuters reported earlier this month, will focus on trading canola and its processed products oil and meal, as well as wheat, barley and soybeans, COFCO said in a statement. Harvest time in Canada runs mainly from August to October. "At a time of tremendous demand pull from China, we see our new Canadian office as key to connecting Canadian farmers to the Chinese market," chief executive Matt Jansen said. Canada is the world's biggest canola exporter…
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Mexico to lift restrictions on Canadian beef in October

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June 28 (Reuters) - Mexico will allow expanded imports of Canadian beef starting in October, leaders of the two countries said on Tuesday, ending 13 years of restrictions related to bovine spongiform encephalopathy. Mexico currently imports Canadian beef only from cattle under 30 months old, since Canada in 2003 reported its first case of bovine spongiform encephalopathy, also called mad cow disease. Mexico's decision to lift restrictions was announced in Ottawa by Canadian Prime Minister Justin Trudeau and Mexican President Enrique Pena Nieto. Trudeau told reporters that Mexico would open its market to all Canadian beef. Canada is the world's sixth-largest beef and veal exporter,…
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Chicago cattle futures rise Monday, hogs lower

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The Chicago live cattle futures contract closed at 111.900 cents per pound, up 1.025 cent. The August feeder cattle futures contract also rose, up 0.650 cent closing at 14.100. But hog futures continued to fall, with August down 1.375 to close at 83.600.

Brexit outcome showing little influence on crop futures

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Monday saw a bounce-back in soybean and canola prices, repairing much of the damage suffered Friday in the post-Brexit shock. But other crops remained weak, with corn and wheat prices still in the depths of the losses that have been incurred since mid-June. Markets this week will be positioning ahead of the seeded acreage reports from Statistics Canada on June 29 and the U.S. Department of Agriculture on June 30. Overall, it's hard to see any direct bias in crops resulting from the United Kingdom's surprise vote to leave the European Union, known as Brexit. "You get these little whirlwinds where crops get sucked in with everything else, but at the end of the day the fundamentals…
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Equipment dealer donates $750,000 to Lethbridge College

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Western Tractor Company Ltd., a farm equipment dealership with four southern Alberta locations, has donated $750,000 to Lethbridge College. The money will be used to create a lab in the college's new trades and technologies facility that is scheduled for completion in 2017. The Western Tractor Technology Lab will be included in the first phase of the building, according to a June 23 news release announcing the donation. It will be used by students in the agricultural and heavy equipment technician programs at the college. In addition, Western Tractor signed a five-year agreement to supply John Deere equipment that will allow students to learn on the latest models and gain…
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Brexit gives final kick to terrible week on crop markets: canola falls again

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The market uncertainty and currency fluctuations caused by the Brexit vote added to the negativity that has hung over crop markets all week. Canola futures fell again on Friday, along with other crop markets that have swooned as the weather in North America is mostly favourable for crop development. A 52 percent majority of Britons on Thursday voted to leave the European Union, and Prime Minister David Cameron said he will resign. That sent markets into turmoil with the British pound down more than 10 percent against the U.S. dollar and the euro also lower versus the greeenback. The process of leaving the bloc will have to be negotiated and could take years. The situation throws…
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