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Canola crush margins continue downward slide

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Winnipeg, Feb. 17 (CNS Canada) – Canola crush margins continue their downward slide, falling to their lowest levels in 10 months over the past week. Recent losses in many vegetable oil markets behind the declines. As of Feb. 17, the Canola Board Crush Margin calculated by ICE Futures Canada was at about C$86 above the March contract, which compares with levels a month ago of roughly $126. 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. The nearby crush margin was last below $90 in May 2016,. Reports of increasing output sent Malaysian palm oil…
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LIVESTOCK-CME live cattle rebounds on cash, beef prices

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CHICAGO, Feb 17 (Reuters) - Chicago Mercantile Exchange live cattle futures halted a two-day slide on Friday, sparked by improved wholesale beef values and better-than-expected cash prices, said traders. They said buy stops and technical buying furthered live cattle market advances. CME livestock markets will be closed on Monday in observance of the Presidents Day holiday. February live cattle closed US1.400 cents per pound to 117.925 cents, and above where the 20-day and 40-day moving averages converged at 117.421 cents. April ended 1.675 cents higher 114.925 cents, and above the 10-day moving average of 114.290 cents. The morning's Choice wholesale beef price climbed $1.15…
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Canola finishes week lower

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Canola futures ended the week on a down note, but prices remain above $500 per tonne. Most-traded May closed at $525, down $3.80 or 0.72 percent. That was a noticeably weaker prices than the strong point in early February of $538, but much better than the range around $480 common during the early fall. At the end of November, May canola reached about $546, a price not exceeded this crop year. Over the week, May canola fell $11 per tonne while new crop November fell $5.80, but remained slightly above the $500 level. SOYBEANS May soybeans settled at US$10.43 ¼ per bushel today, down 11 ½ cents, but a level some analysts say is still too rich. Soybean oil, the price…
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Canada sees farm income dip, but staying at lofty level

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WINNIPEG, Manitoba, Feb 17 (Reuters) - Canadian farmers' incomes will decline 7 percent in 2017, falling for the second year in a row but remaining at above-average levels, the country's agriculture department predicted on Friday. A drop in North American cattle and calf prices from record highs in 2015 is the main reason for the two-year dip, Agriculture and Agri-Food Canada (AAFC) said in a statement. Crop revenues, however, are expected to rise due to a big harvest. Net cash income, which measures revenue minus operating expenses, is expected to slide by C$1 billion, to C$13.8 billion ($10.52 billion) in 2017, following a 2 percent decline in 2016. Those two years are still…
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EU still on track for bigger rapeseed crop despite winter chill

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PARIS, Feb 17 (Reuters) - Rapeseed in the EU's major growing countries was mostly in reasonable shape, despite localised damage caused by dry sowing conditions and winter frosts, keeping the EU on course for a rebound from last year's disappointing harvest. Analysts Strategie Grains this month cut their forecast for EU 2017 rapeseed production by 500,000 tonnes to 21.56 million, citing damage in countries such as Poland. However, recent cold spells were not thought to have had a major impact across the EU, maintaining the prospect of a bigger crop than the four-year low of 20 million tonnes in 2016. In France, rapeseed had generally coped with the cold. "The onset of cold…
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China scientist convicted in U.S. of theft of engineered rice

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Feb 16 (Reuters) - A federal jury on Thursday convicted a Chinese scientist in Kansas of conspiring to steal samples of a variety of genetically engineered rice seeds from a U.S. research facility, the U.S. Justice Department said, the latest attempt at agricultural theft linked to China. Weiqiang Zhang, 50, a Chinese national living in Manhattan, Kansas, was convicted on three counts, including conspiracy to steal trade secrets and interstate transportation of stolen property, the department said in a statement. Zhang, who has a doctorate from Louisiana State University, worked as a rice breeder for Kansas-based Ventria Bioscience Inc, which develops genetically programmed rice used…
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U.S. corn farmers worry as Mexico woos South American suppliers

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CHICAGO, Feb 16 (Reuters) - Mexico's attempts to diversify its supplies of corn could threaten a crucial market for U.S. farmers who are increasingly dependent on exports to unload record stockpiles that are depressing prices. Mexico buys nearly all its corn imports from the United States - shipments that totaled 13.603 million tonnes in the year ending Aug. 31, 2016. The sales account for about 28 percent of total U.S. corn exports, according to the U.S. Department of Agriculture. But now Mexico wants to lessen that dependence as U.S. President Donald Trump threatens to upend trade between the countries. On Thursday, Mexico's agriculture minister revealed plans to visit Argentina and…
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Canola, wheat futures sag on Thursday

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Canola futures held up better than soybeans on Thursday as crop markets gave back the gains they made on Wednesday. March canola closed at $521.30 per tonne, down $2.80 or 0.53 percent while March soybeans fell 17.5 cents or 1.65 percent to close at US$10.43 ¾ per bushel. CLICK HERE FOR OUR WEEKLY VIDEO CROP MARKET UPDATE Oilseed prices are winding down as the soybean harvest in Brazil progresses. The general market attitude is that there will be big soy crops from South America although there are heavy rains in parts of Argentina and Brazil that could cause problems. In…
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LIVESTOCK-Cash price unease pressures CME live cattle futures

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CHICAGO, Feb 16 (Reuters) - Chicago Mercantile Exchange live cattle futures on Thursday slipped for a second straight day, amid investor caution while waiting for remaining cash cattle to change hands by Friday, said traders. Short-covering and futures' discounts to early-week cash returns provided downside market support, they said. February live cattle closed down 0.250 cent per pound to 116.525 cents, and April 0.100 cent lower at 113.250 cents. The bulk of animals sold on Wednesday's Fed Cattle Exchange brought $118.50 to $119.25, compared with last week's $117.50 average. Slaughter-ready, or cash, cattle bids elsewhere in the U.S. Plains stood at $116 per cwt against…
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Sask. embarks on large drainage project

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Saskatchewan has approved the largest single agricultural drainage project in the province’s history. Seventy-three landowners and more than 18,000 acres are involved in a single approval for the Dry Lake Project in the Gooseberry Lake Watershed southeast of Regina. All existing drainage works and some future works have been included in the project, which will provide land control and security for the landowners. There will be 30 gated structures controlling the release of water during spring runoff. The joint application negated the need for legal easements on 113 quarter sections of land or landowner-to-landowner agreements. “This single project is equal to roughly one…
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