By Theopolis Waters CHICAGO, March 12 (Reuters) – Chicago Mercantile Exchange live cattle rose on Wednesday, driven by anticipation of higher cash prices this week, traders said. For now, there is more confidence in better prices for cash cattle given record-high beef values and positive packer margins, said R.J. O’Brien floor manager Jim Brooks. Cash […] Read more
Stories by Reuters News Service
CN Rail CEO says it will meet Ottawa’s grain shipment target
TORONTO (Reuters) — Canadian National Railway Co., the country’s biggest railroad operator, said on Wednesday it will meet the federal government’s order to ship 500,000 tonnes of grain a week, but its chief executive said there would still be a severe backlog even under ideal conditions. Last week, the Canadian government ordered the country’s two […] Read more
Harper concerned about trucker strike at Vancouver port
OTTAWA, March 12 (Reuters) – Canadian Prime Minister Stephen Harper said on Wednesday it was unacceptable for striking truck drivers to delay shipments at the country’s largest port in Vancouver, but noted that it was up to the provincial government to deal with the conflict. The labor dispute at the port, a gateway to fast-growing […] Read more
CBOT oats hit record high; rail delays keep supplies tight
CHICAGO, March 12 (Reuters) – The Chicago Board of Trade oat market soared 17 percent to an all-time high on Wednesday, continuing a monthlong rally on tight supplies due to backlogged rail shipments from top exporter Canada. The biggest gains were notched in the thinly traded March contract as traders exited their short positions ahead […] Read more
CME Group to set variable price limits for CBOT grains
CHICAGO, March 12 (Reuters) – CME Group, the parent of the Chicago Board of Trade, said on Wednesday it planned to set variable price limits on CBOT grain and oilseeds futures on May 1, pending approval by the U.S. futures regulator. The exchange said it also planned to eliminate price limits on CBOT grain and […] Read more
Brazil government slashes soy outlook, doesn’t expect more cuts
BRASILIA/SAO PAULO (Reuters) — Brazilian government crop supply agency Conab slashed its forecast for the 2013-14 soybean harvest by five percent to 85.44 million tonnes on Wednesday, citing climate problems in several states late in the growing period. The new outlook probably reflects the worst of the damage, and the next official forecast should remain […] Read more
Weather aids Ukraine spring sowing, finance is main risk
By Pavel Polityuk and Polina Devitt KIEV/MOSCOW, March 12 (Reuters) – Sowing of spring grains in Ukraine is under way in almost ideal weather but there is concern about farmers facing financing problems and parts of the Crimea region may remain fallow, traders and officials said. Political crisis in Ukraine and Russia’s bid to reclaim […] Read more
Europe’s fear of U.S. hormone meat, GM food sows divide in U.S. trade talks
BRUSSELS (Reuters) — Europe’s reluctance to buy hormone meat or genetically modified food from the United States has exposed an “enormous gulf” that threatens the world’s biggest trade pact, industry and labour groups told EU and U.S. negotiators on Wednesday. Eight months into talks to create a transatlantic pact encompassing almost half the world’s economy, […] Read more
Hog futures peak at new high in volatile action; live, feeder cattle close mostly weak
By Theopolis Waters CHICAGO, March 11 (Reuters) – Chicago Mercantile Exchange hog futures on Tuesday reached a new high for a second straight session as buying pegged to a deadly pig virus offset profit-taking, traders said. The Porcine Epidemic Diarrhea virus sweeping across U.S. hog farms and also in Canada is already hurting production in […] Read more
Agriculture companies launch effort to standardize, secure farm data
CHICAGO (Reuters) — Purdue University researchers and a group of agricultural companies on Tuesday announced an open source project to standardize farm data formats and improve communication between farm equipment and farm management tools made by different companies. The Open Agriculture Data Alliance, or OADA, will also seek to set standards on data privacy and […] Read more
