By P.J. Huffstutter CHICAGO, April 3 (Reuters) – Capping yet another day of volatile livestock trading, Chicago Mercantile Exchange hogs closed down Thursday, recovering somewhat after prices went limit-down midday in response to ongoing uncertainty over the impact of a deadly swine virus on the nation’s hog herd. In contrast, fears over tight beef and […] Read more
Stories by Reuters News Service
United States urges Japan to make good on trade promises
WASHINGTON (Reuters) — Japan has to live up to commitments to open its markets as part of talks to create a Pacific free trade zone, U.S. Trade Representative Michael Froman said on Thursday. Froman said despite a series of bilateral talks between the United States and Japan, the two biggest economies in the 12-nation trade […] Read more
Rejected U.S. corn tops one million tonnes in Chinese dispute
April 3 (Reuters) — China cancelled purchases of 221,400 tonnes of U.S. corn last week, the U.S. Agriculture Department said on Thursday, bringing the total to more than one million tonnes of corn rejected since November in a dispute involving a biotech variety not approved by the No. 3 buyer of U.S. grain. The corn […] Read more
Informa Economics raises Brazil corn forecast, lowers Brazil soy
CHICAGO (Reuters) — Private analytics firm Informa Economics raised its estimate of Brazil’s 2013-14 corn harvest to 68 million tonnes, from 65.45 million previously, citing increased plantings of winter corn, the firm said in a note to clients on Thursday. Informa also raised its forecast of Argentina’s 2013-14 corn crop to 23.0 million tonnes, from […] Read more
Planting delays expected in U.S. Corn Belt after brutal winter
CHICAGO, April 2 (Reuters) – Rainy weather and colder-than-normal soil temperatures should delay corn planting in most of the U.S. Midwest for at least the next week, crop and weather experts said on Wednesday. “It looks like it is going to be pretty wet for the next several days. With the combination of low soil […] Read more
Iowa farmland prices fall more than 5 percent
CHICAGO, April 2 (Reuters) – Farmland values in Iowa, the top U.S. corn and soybean state, fell 5.4 percent over the past six months, under pressure from lower grain prices, according to a benchmark survey of realtors. Still, the market remains underpinned by strong demand from wealthy farmers and non-farming investors, said the Iowa Realtors […] Read more
Monsanto profit beats expectations on strong corn, soybean demand
April 2 (Reuters) – Monsanto Co, the world’s largest seed company, reported higher-than-expected quarterly earnings on Wednesday as its corn and soybean businesses expanded globally. The company, which specializes in developing genetically engineered crops that withstand herbicides and ward off insects, said the profit margin in corn, its top revenue producer, increased 2.5 points in […] Read more
Fund selling erases CME hogs’ new high; cattle firm
By Theopolis Waters CHICAGO, April 2 (Reuters) – Chicago Mercantile Exchange hogs on Wednesday slumped on profit-taking and fund liquidation that pulled futures down from a high set earlier in the session, traders said. Fund selling and sell stops developed after the June contract fell below the 20-day moving average of 127.209 cents. April hogs […] Read more
Agrium warns late spring, railroad backlogs hurt earnings
(Reuters) — Fertilizer company Agrium Inc. warned on Wednesday that a big backlog of grain shipments on Canada’s railways and a late start to spring planting will hit its first-quarter earnings hard. Calgary, Alberta-based Agrium estimated per-share earnings for the quarter ended March 31 at just above break even, well below the average analyst estimate […] Read more
CME hogs hit new high, led by discount to cash prices; cattle lower
By Theopolis Waters CHICAGO, April 1 (Reuters) – Chicago Mercantile Exchange hogs on Tuesday set a new high after recovering some of Monday’s hefty losses, helped by short-covering and futures’ discount to prices for market-ready or cash hogs. CME’s hog index, a two-day barometer reflecting cash prices, was at a record-high 129.87 cents, which surpassed […] Read more
