Daily news

Russia low balls crop to support prices

No Comments

MOSCOW, Oct 3 (Reuters) - A desire to support local grain prices has been a key factor in the rare situation of Russian officials being among the last in the global agriculture industry to say Russia's 2017 grain crop would hit a record, analysts and sources said. Some countries are routinely suspected of understating their commodities output in a bid to shore up prices for their producers, but Russia, one of the world's top wheat exporters, is usually keen to promote its agricultural achievements, reminding some market players of the five-year plans in the days of the Soviet Union. However, Russia's agriculture ministry only said the country's 2017 grain crop was on track to hit an…
[Read more]

Canola hangs around familiar levels

No Comments

Canola futures eased a bit Monday, but stayed above the $490 per tonne level, the point at which it's been static for days. "Canola remains kind of trapped," said Ken Ball, broker with P.I. Financial in Winnipeg. "But it has been trading very strong in relative value." Canola's chart flatness is a much better situation than the sliding value of soybean oil, which has been on a tumble since the beginning of September. Soybean oil has broken down to levels last seen in June, before a strong summer. There is carry in the canola market, with January futures almost seven dollars above November. Most other crops fell on Monday. Spring wheat fell the hardest, with Minneapolis…
[Read more]

Bargain hunters, fund buying boosts CME hog futures

No Comments

CHICAGO, Oct 2 (Reuters) - Chicago Mercantile Exchange lean hog futures finished sharply higher on Monday, fueled by bargain buying in the technically oversold market, said traders. They said funds helped accelerate market advances after contracts punched through technical resistance levels. October hogs, which will expire on Oct. 13, ended 1.850 cents per pound higher at 57.250 cents, and above the 10-day moving average at 56.698 cents. Most actively traded December finished 2.025 cents higher at 61.975 cents, and above the 200-day moving average of 61.752 cents. The market was overdone to the downside and Monday's upward correction may have been a natural response to significant…
[Read more]

Spring wheat future down on bearish USDA report, canola little changed on week

No Comments

December spring wheat future were slammed down 3.3 percent Friday as the USDA said the crop was larger than expected. The USDA reports were more positive for soybeans and corn, causing modest rallies in those crops that spilled over to support canola. November canola closed at $492.40 per tonne, up $1.60 on the day. The oilseed saw only slightly movements all week. Compared to last Friday the November contract is down $2.40 a tonne. CLICK HERE FOR WEEKLY VIDEO CROP UPDATE Harvest in Western Canada in the last 10 days or so has been delayed by wet weather but progress…
[Read more]

Soy, corn up following U.S. stocks report, wheat down

No Comments

WASHINGTON, Sept 29 (Reuters) - U.S. soybean and corn stockpiles are massive, but not quite as huge as the trade expected. Corn and soybean futures were trading a little higher following the U.S. Department of Agriculture stocks report issued today, but wheat was down as its stocks were higher than the midpoint of trade expectations. Also, the forecast of the 2017 wheat crop was at the high end of expectations. In its quarterly stocks report, the USDA reported that domestic corn ending stocks rose 32 percent from a year earlier to 2.295 million bushels, their highest level since 1988. Soybean ending stocks rose to 0.301 billion bu., which was 53 percent higher than Sept. 1,…
[Read more]

LIVESTOCK-CME hog futures settle mostly lower before USDA report

No Comments

CHICAGO, Sept 28 (Reuters) - Most Chicago Mercantile Exchange lean hog contracts closed lower on Thursday, pressured by profit-taking ahead of the U.S. Department of Agriculture's quarterly hog report at 2 p.m. CDT (1900 GMT).              "The industry will no doubt show herd expansion and record large production, it's just a question of how much," said Archer Financial Services broker Dennis Smith.  Thursday morning's modest uptick in prices for slaughter-ready or cash hogs, along with wholesale pork values, underpinned October hog futures, traders said.      Until Wednesday, hog prices have come down for more than two…
[Read more]

Louis Dreyfus sees better signs as profits rise

No Comments

PARIS, Sept 28 (Reuters) - Louis Dreyfus, one of the world's top grain trading firms, pointed to improved signs for its commodity trading activities as it posted higher first-half profits in the face of a continuation of high staple crops supplies. Along with its peers, Louis Dreyfus has been overhauling its businesses as margins for buying, selling and shipping agricultural goods have been eroded by large stockpiles and reduced price volatility. The trading house reported on Thursday group first-half net profits of US$160 million, up from $135 million a year ago, while its segment operating profits also rose to $602 million, from $546 million last year. Net sales advanced 18…
[Read more]

ADM, Cargill still pursue Syngenta over China GMO corn rejections

No Comments

CHICAGO, Sept 27 (Reuters) - Syngenta AG moved closer to putting a troubled biotech corn seed launch behind it with a $1.5 billion settlement with farmers this week, but grain traders who filed two remaining lawsuits may be less ready to compromise, legal experts said. The company was sued three years ago by the farmers and traders who said they suffered financial losses over its decision to commercialize a genetically modified (GMO) corn strain known as Agrisure Viptera before China approved it for import. Its settlement this week with farmers cost it more than half its annual profits and came after it lost a case in Kansas and had to pay $217.7 million in damages to over 7,000…
[Read more]

Canola dips as loonie rises; exports improve

No Comments

It was another day of modest changes in crop futures prices on Thursday, with canola closing slightly lower. Harvest weather is great in most of Western Canada and the U.S. Midwest. However the Prairies expect to see a weather change on Sunday and early next week with cooler temperatures and showers. As of Sept. 25 Saskatchewan’s harvest was 78 percent complete, up only three percentage points from the week due to the recent wet weather. Another 15 percent was in swath or ready to straight cut, said the weekly provincial agriculture department crop report. Canola is 68 percent harvested. Spring wheat is 77 percent. The Canadian dollar regained some of the ground it lost on…
[Read more]

Roquette breaks ground on Manitoba pea plant

No Comments

A $400 million pea processing plant in Manitoba should be operational by 2019. Roquette, a family owned food ingredient company based in France, officially broke ground Thursday afternoon at a pea protein processing plant that it’s building in Portage la Prairie. “This represents a major step in our development strategy in North America and in the plant protein business,” said Jean-Marc Gilson, Roquette’s chief executive officer, in a statement. “We are looking forward to offering our pea-protein products from Portage la Prairie, at the heart of Manitoba, to customers and consumers in America and worldwide.” Roquette announced plans to build the pea processing plant, in…
[Read more]
Load more articles
x3x3x3x3x3x3