MOSCOW, March 21 (Reuters) – Russia is considering temporary limits on Australian beef imports after detecting a productivity stimulant it prohibits, its veterinary and phytosanitary service (VPSS) said on Friday. The statement comes two days after Foreign Affairs Minister Julie Bishop said Australia would join the United States and European Union in imposing sanctions over […] Read more
Stories by Reuters News Service
El Niño seen bringing much-needed rain to Chile
SANTIAGO, March 20 (Reuters) – After five years of drought in central Chile, there is a good chance that the El Niño weather pattern could bring much-needed rains during the Southern Hemisphere’s winter, the national meteorological service said on Thursday. In recent years, power producers in the world’s top copper producer have been forced to […] Read more
EU oat exports set for nine-year high on North America woes
PARIS (Reuters) — European Union exports of oats are on course to hit a nine-year high, official data showed on Thursday, reflecting strong U.S. demand as logistical snags curb supply of the cereal from top exporter Canada. The supply tensions in North America have put a spotlight on what is a niche market compared to […] Read more
Fund selloff undercuts CME live cattle futures; hogs mixed
By Theopolis Waters CHICAGO, March 20 (Reuters) – Chicago Mercantile Exchange live cattle futures on Thursday slid after hitting contract highs in early trade, weighed by weaker wholesale beef prices and fund liquidation, traders said. The morning’s wholesale beef price, or cutout, dropped for a second straight day, with choice down $1.10 per hundredweight from […] Read more
AgResource sees record corn crop boosting stocks in coming year
GENEVA (Reuters) — World corn production is set to rise to record levels in the year through June 2015, boosting stocks, Dan Basse, president of consultancy AgResource Co, said on Thursday. Speaking at the AgResource Cereals Europe event in Geneva, Basse estimated global corn output would reach 978.4 million tonnes, up from 967.5 million the […] Read more
B.C. threatens back-to-work law to end Vancouver port strike
VANCOUVER (Reuters) — The British Columbia government is preparing legislation to force striking container truck drivers to return to work at Port Metro Vancouver, in an effort to end a three-week strike that has crippled operations at Canada’s largest port. The province said on Wednesday that it intends to introduce the legislation, which would only […] Read more
China buys first U.S. corn in two months despite unresolved GMO spat
(Reuters) — China bought its first U.S. corn in more than two months last week, the U.S. Agriculture Department said Thursday, despite an unresolved dispute over a biotech variety that has not been approved for import by the country. The purchase, which followed seven consecutive weeks of cancellations by the world’s third-largest corn importer, puzzled […] Read more
USDA warns China could pay premium on future corn imports
GENEVA (Reuters) — China could face premiums on future corn purchases after rejecting U.S. genetically modified corn in recent months, an official with the U.S. Department of Agriculture said on Thursday. “The Chinese are going to have to learn that their actions will have consequences,” USDA China chair Fred Gale told the AgResource Cereals Europe […] Read more
Hog futures close mixed after volatile session; cattle mixed
By Theopolis Waters CHICAGO, March 19 (Reuters) – Chicago Mercantile Exchange hog futures closed mixed on Wednesday, supported by higher cash hog prices while pressured by sporadic profit-taking, traders said. The morning’s hog price in the closely watched Iowa/Minnesota market rose $2.41 per hundredweight to $122.90, surpassing Tuesday’s $121.13 record, based on U.S. Department of […] Read more
CN Rail CEO sees grain backlog extending into 2015
TORONTO (Reuters) — A record-shattering Canadian harvest, combined with one of the most frigid winters in decades, has created a grain-handling backlog that will not be cleared until next year, the head of Canadian National Railway said on Wednesday. “It will take more than the summer, continue into fall, into next year,” Claude Mongeau, chief […] Read more
