CHICAGO (Reuters) – Tom Giessel is cutting back on plantings this year on his farm in central Kansas as he reckons with a drought, a glut in global grains supply and trade tensions between the United States and China. About 200 miles away in the northwestern part of the state, farmer Janet Bear swapped the […] Read more
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China trade row sows confusion in farmer planting plans
Cargill has ‘significant concerns’ over U.S.-China trade strategy
CHICAGO (Reuters) – Cargill Inc. is concerned the White House’s strategy to address unfair trade practices with China will not work and could lead to an escalating trade war, according to prepared comments the global grain merchant sent to U.S. Trade Representative Robert Lighthizer. The five-page letter, submitted on Friday and made public on Monday, […] Read more
South America, Europe footprint gives Bunge edge – CEO
CHICAGO/NEW YORK (Reuters) – Bunge Ltd is able to withstand any global agricultural trade disruptions arising from U.S.-China tensions, thanks to its massive soybean processing capacity in South America and expansion in Europe, Chief Executive Soren Schroder said at an investor event in New York on Wednesday. While ongoing trade tensions are not good for […] Read more
Trade rows spell gain, and pain, for U.S. grain exporters
CHICAGO (Reuters) – Global grain marketers have seized upon trade tensions between the United States and several of its top export markets, including China, to turn around struggling trading units following one of the toughest years ever for the industry. After five years of bumper harvests worldwide that depressed crop prices, trading margins are on […] Read more
U.S. farmers tighten belts to compete with cheap LatAm grain
CHICAGO, Oct 26 (Reuters) – When Kansas farmer Tom Giessel drove over a deer carcass and punctured a tire on his combine during harvest this fall, he did not have the time or cash to fix it. He borrowed his neighbour’s tractor to finish. U.S. farmers are cutting costs any way they can to compete […] Read more
Bayer joins in $100 million investment bet on bio fertilizer
CHICAGO, Sept 14 (Reuters) – Germany’s Bayer AG, one of the world’s biggest agricultural chemical companies, is joining a $100 million bet that the next big breakthrough in crop fertilizers will be found inside a biological Petri dish. Its Bayer LifeScience Center division, along with biotech firm Ginkgo Bioworks, is forming a startup to focus […] Read more
CME lean hog futures surge amid summer grilling questions
CHICAGO, March 9 (Reuters) – Chicago Mercantile Exchange lean hog futures for animals set to be delivered in July and August surged to all-new contract highs on Wednesday, as investors bet on tighter supplies being available for the summer grilling season. Demand from pork packers was a bit hit and miss, said one cash hog […] Read more
Cattle futures rise as traders exit nearby positions
CHICAGO, March 8 (Reuters) – Chicago Mercantile Exchange live cattle futures closed higher on Tuesday, after traders exited nearby positions to avoid taking delivery and packers seemed to be bidding more aggressively than expected in the U.S. southern Plains. Traders said there was talk of Texas packers on Tuesday bidding in line with what they […] Read more
Heavy meat supplies sour CME cattle, hog futures
CHICAGO, Nov 13 (Reuters) – Chicago Mercantile Exchange cattle futures <0#LC:> fell sharply on Friday, rounding out the week on a sour note as traders sought cover amid a steep downturn in wholesale beef prices. CME live cattle and feeder cattle futures gave back much of the gains they had made in the past two […] Read more
Technical trading, holiday fears sour CME hog, cattle futures
CHICAGO, Nov 9 (Reuters) – The Chicago Mercantile Exchange saw all of its live cattle and all but two feeder cattle futures contracts fall by the daily trading limit on Monday, pressured by technical selling and weakening wholesale beef prices, traders and industry analysts said. Meanwhile, CME lean hog contracts continued their slump on Monday, […] Read more
