Canola starts the week strong

WINNIPEG, (MarketsFarm) – Intercontinental Exchange (ICE) Futures canola contracts were stronger on Monday, due to gains in the Chicago soy complex and a weaker Canadian dollar. The soy complex saw good gains in beans, oil and meal as shipping delays in China and South America pushed up prices. By mid-afternoon Monday, the Canadian dollar was […] Read more

Brazil agribusiness groups seek govt support to keep ports running – letter

SAO PAULO, (Reuters) – A group of almost 50 agribusiness associations has sought support from the federal government to guarantee Brazilian ports continue to operate amid the coronavirus crisis, according to a letter dated March 18 seen by Reuters. In the letter addressed to President Jair Bolsonaro and Infrastructure Minister Tarcísio Gomes de Freitas, farmers […] Read more

Calls for U.S. farm debt, loan relief grows as coronavirus spreads

CHICAGO, (Reuters) – U.S. livestock producers are urging the Department of Agriculture to let them defer or adjust payments for government loans as the coronavirus hits the already struggling farm economy, the largest U.S. farmer trade group said. The American Farm Bureau Federation’s request was made in a March 17 letter outlining a wide swath […] Read more

Canola futures stronger for 3rd straight day

WINNIPEG, (MarketsFarm) – The ICE Futures canola market was stronger for the third-straight session on Thursday, as world equity and energy markets saw a modest correction amid the ongoing COVID-19 pandemic. Gains in the Chicago Board of Trade soy complex also provided spillover support, although activity was choppy in the grains and oilseeds. Recent weakness […] Read more

U.S. biofuel group says ethanol industry sharply cutting production

(Reuters) – Many U.S. ethanol plants have slashed production over the past week or idled entirely as the coronavirus outbreak cut into fuel consumption and cratered margins to refine the corn-based fuel, the head of a biofuel trade group said on Thursday. Renewable Fuels Association Chief Executive Geoff Cooper said on a conference call he expects […] Read more

U.S. under pressure to keep slaughterhouses open during virus outbreak

CHICAGO, (Reuters) – The U.S. Department of Agriculture is seeking to reassure meat producers it will keep slaughterhouses staffed with federal inspectors as fears about potential shutdowns due to the new coronavirus hammer livestock prices and fuel concerns about food supplies, meat industry groups said on early this week. Livestock markets have been hit hard […] Read more

Ag Canada adjusts supply/demand tables slightly

WINNIPEG, (MarketsFarm) – Updated supply/demand tables released by Agriculture and Agri-Food Canada on March 19 include only minor adjustments to the stocks and usage numbers, with slight increases to the wheat and canola ending stocks forecasts for 2020/21. Canola ending stocks for 2020/21 are now forecast at 2.80 million tonnes. That would be up from […] Read more

Brazil pork, poultry processors not planning to cut back over coronavirus

SAO PAULO, (Reuters) – Brazilian pork and poultry processors have no plans to cut production or place workers on paid leave in response to the coronavirus crisis, meat producer association ABPA said on Tuesday. ABPA Executive Director Ricardo Santin said by telephone the crisis is changing consumer habits but has not had a significant impact […] Read more

Canola futures see corrective bounce

WINNIPEG, (MarketsFarm) – The ICE Futures canola market settled in the green for St. Patrick’s Day, seeing a corrective bounce after Monday’s fall to contract lows. Gains in Chicago Board of Trade soyoil and weakness in the Canadian dollar contributed to the advances in canola. The currency was down nearly a full cent relative to […] Read more