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LIVESTOCK-U.S. cattle gain on technicals, grilling demand

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CHICAGO, May 27 (Reuters) - U.S. live cattle gained for the second straight session on Friday, rising on technical buying and hopes meat demand would increase during the summer grilling season, traders said. Investors also were exiting short positions in light trading volumes ahead of the three-day holiday weekend surrounding Monday's U.S. Memorial day holiday, considered the unofficial start of the grilling season. Prices for wholesale beef and pork declined going into the weekend, as many retailers had already bought what they needed for holiday-related demand. However, bullish cattle traders were optimistic of better consumer and retailer demand as temperatures warm and…
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Father of canola receives Sask. Order of Merit

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Keith Downey has received a long list of recognitions and distinguished awards, but he says the Saskatchewan Order of Merit is the one he values most. "The icing on the cake," said Downy, who has earned a worldwide reputation as one of the fathers of canola for his oilseed breeding program and research for converting rapeseed into canola. "It's very gratifying and I'm much humbled by it.… It felt very good that the province had recognized the input of my team because you don't do all of this on your own." Downy is among 10 recipients of the 2016 Saskatchewan Order of Merit, the province's highest order. Established in 1985, the award recognizes excellence, achievement and…
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Canola crush margins at best levels of the year

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Winnipeg, May 27 – Canola crush margins have improved considerably over the past few weeks, to sit at some of their best levels of the past year. Crush margins provide an indication of the profitability of the product values relative to the seed cost when processing canola, with exchange rates also factoring in to the equation. As of May 27, the Canola Board Crush Margin calculated by ICE Futures Canada was at about C$107 above the nearby July contract, which compares with levels closer to C$84 a month earlier and the year-ago level of C$71. “I don’t remember seeing (margins) at this level in some time,” said a market watcher. With the end of the crop year fast…
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New recalls linked to listeria concerns

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Several food recalls have been issued by the Canadian Food Inspection Agency in recent days, the latest in numerous similar recalls here and in the United States connected to potential listeria contamination. There is also an unrelated recall of raw pork and pork organ products sold in Alberta over possible E. coli 0157:H7 contamination. In the latter case, "the affected raw pork and pork organ products, supplied by Cantran Meat Co. Ltd., may have been transformed into raw muscle meat cuts, ground pork, sausages, and raw ready-to-eat products.…
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Canola falls on the week as rain improves production outlook

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Canola futures posted a mixed day to close the week Friday with new crop November eking out a small gain after being down early in the morning. Old crop July closed lower for the second day, capping a week when canola weakened even as soybeans rallied. Over the week, July canola fell $13.20 a tonne of 2.5 percent while new crop November fell $6.50 or 1.2 percent.
VIDEO: Canada’s agricultural markets update
The moisture situation is improving across the Canadian Prairies and significant rain is expected again on Tuesday in much of southern Saskatchewan…
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Monsanto boss could net $70 million from a Bayer takeover

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LONDON, May 27 (Reuters) - Monsanto boss Hugh Grant could land more than US$70 million if the world's largest seed company is taken over by German chemicals giant Bayer AG. The U.S. firm said it was open to engaging in further negotiations with Bayer after turning down its $62 billion bid as "incomplete and financially inadequate" this week. That $122-per-share offer would allow chief executive officer and chairman Grant to walk away with a total package of more than $123 million after a takeover, including from the sale of shares and the exercise of options he already owned, a Reuters analysis of Monsanto filings shows. But $73.5 million of that represents gains the 58-year-old…
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U.S. sees first case of bacteria resistant to last-resort antibiotic

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By Ransdell Pierson and Bill Berkrot May 26 (Reuters) - U.S. health officials on Thursday reported the first case in the country of a patient with an infection resistant to a last-resort antibiotic, and expressed grave concern that the superbug could pose serious danger for routine infections if it spreads. "We risk being in a post-antibiotic world," said Thomas Frieden, director of the U.S. Centers for Disease Control and Prevention, referring to the urinary tract infection of a 49-year-old Pennsylvania woman who had not travelled within the prior five months. Frieden, speaking at a National Press Club luncheon in Washington, D.C., said the bacteria was resistant to colistin, an…
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U.S. watchdog to review cattle pricing, high-speed trading

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CHICAGO, May 26 (Reuters) - A U.S. watchdog agency will launch a review of cattle pricing, including the impact of high-frequency trading on futures, after ranchers complained about a sharp price drop last year. The U.S. Government Accountability Office (GAO) has accepted a request from the Senate Judiciary Committee to study the reasons for the decline, an agency spokesman said on Thursday. The GAO will review "what is known about the extent to which high-frequency trading in cattle futures contracts has contributed to price fluctuations," he said. It also will assess how changes in cattle trading over the past decade may have affected price swings in recent years, he added. The…
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LIVESTOCK-Hogs up most in two weeks on pork gains; cattle up

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By Michael Hirtzer CHICAGO, May 26 (Reuters) - U.S. lean hog futures rose as much as two percent on Thursday, rallying to the highest levels in a week on gains in pork prices and as investors exited short positions ahead of the Memorial Day long holiday weekend, traders said. Most-active July hogs settled 1.450 cents higher at 81.275 cents per lb, with the 1.9 percent gain the biggest rise since May 11. The U.S. Department of Agriculture after the close of futures trading on Wednesday showed sharply higher wholesale pork prices, triggering a wave of futures buying when trade resumed early on Thursday. USDA late on Thursday showed wholesale pork prices down $1.46 at $83.57 per…
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Canola falls on rapid seeding, wheat gains on US rain

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Canola futures fell Thursday on weaker soybeans, on ideas that canola’s recent rally was over done and on rapid seeding progress. A stronger loonie also weighed on canola. Wheat, usually the laggard in crop markets this year, rose sharply on concerns about excess rain in the U.S. Plains and Midwest and on ideas that cheap wheat will replace corn in some U.S. livestock feed rations this summer. Short covering also supported wheat. Unlike Wednesday, spring wheat also rose today, trying to catch up to gains in Kansas and Chicago wheat. VIDEO – Canada’s crop market…
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