BEIJING (Reuters) — China’s approval process for GMO grains has become “overly political” and “unpredictable and nontransparent,” an American industry group said on Thursday, in the strongest criticism of Beijing’s biotech policy since China began rejecting thousands of tonnes of genetically modified corn last year. “In recent years, China’s biotech approval process has gone from […] Read more
Stories by Reuters News Service
Record $150 U.S. cash cattle drive live cattle futures higher
By Theopolis Waters CHICAGO, Feb 26 (Reuters) – The lead Chicago Mercantile Exchange live cattle contract set a new high on Wednesday, driven by record-high cash prices and strong wholesale beef quotes, traders said. Cash cattle in Texas and Kansas traded at $150 per hundredweight, surpassing the previous record of $146 to $147 in January, […] Read more
CBOT oats record high as rail backlog crimps U.S. supply
By Julie Ingwersen CHICAGO, Feb 26 (Reuters) – Oat futures on the Chicago Board of Trade notched a record high for a second straight day on Wednesday, driven by razor-thin U.S. supplies as rail shipments of the feed grain from top supplier Canada remain snarled. Canada is the world’s top exporter of oats, but rail […] Read more
Australia commits nearly $300 million to help drought-hit farmers
SYDNEY, Feb 26 (Reuters) – The Australian government will provide a A$320 million ($289 million) assistance package to help farmers ravaged by years of drought across the east coast, Australian Prime Minister Tony Abbott said on Wednesday. With pockets of Queensland and New South Wales recording the lowest ever rainfall levels, farmers in the world’s […] Read more
Soybean traders buy protection against price pullback: COLUMN
By Gavin Maguire The author is a Reuters market analyst. The opinions expressed are his own. CHICAGO Feb 26 – May 2014 soybean futures have rallied more than $1.00 a bushel since the start of February on the back of brisk demand, tight domestic stocks and concerns about the scale and timeliness of South American […] Read more
CME live cattle rise to new high on strong cash outlook
By Theopolis Waters CHICAGO, Feb 25 (Reuters) – The lead Chicago Mercantile Exchange live cattle contract hit a new high on Tuesday in anticipation of steady to firm cash prices pegged to improved wholesale beef values, traders said. Tuesday morning’s wholesale choice beef price rose 45 cents per hundredweight (cwt) from Monday to $216.27. Select […] Read more
Wheat falls most in a month after Egypt cancels US purchases
By Michael Hirtzer CHICAGO, Feb 25 (Reuters) – U.S. wheat futures fell 1.3 percent on Tuesday and were on track for their biggest loss in a month after top global wheat importer Egypt canceled purchases of two cargoes of U.S. grain, traders said. Soybeans recovered from early losses to notch a new five-month high after […] Read more
Analysts grumble at USDA corn yield forecast — COLUMN
(The author is a Reuters market analyst. The opinions expressed are his own.) By Gavin Maguire CHICAGO Feb 25 – Grain analysts broke out in a chorus of grumbles last week as the U.S. Department of Agriculture released its first major set of assumptions and forecasts pertaining to the upcoming U.S. crop growing season in […] Read more
Live cattle futures fall on bearish on-feed report
By Theopolis Waters CHICAGO, Feb 24 (Reuters) – Chicago Mercantile Exchange live cattle finished mostly lower on Monday in response to Friday’s bearish U.S. Department of Agriculture monthly cattle report, traders said. Friday’s data showed a bigger than expected jump in the number of cattle placed in feedlots last month as high prices for market-ready […] Read more
U.S. GMO crops show mix of benefits, concerns: USDA report
(Reuters) — After more than 15 years of using genetically modified crops, U.S. farmers are continuing to see an array of benefits, but the impacts on the environmental and on food production are mixed, and high farmer use of a popular herbicide on GMO crops is a cause for ongoing concern, according to a report […] Read more
