Markets
CHICAGO, May 31 (Reuters) – The previous session’s Chicago Mercantile Exchange live cattle advances carried over into Wednesday, with support from fund buying and short-covering on the final trading session of the month, said traders. Futures’ discounts to this week’s initial cash prices provided additional market support, they said. June ended up 1.450 cents per […] Read more
Markets
Fund buying extends CME live cattle futures gains
Pork industry tracks source of ractopamine impeding China trade
Canada’s pork industry is trying to track down the source of the ractopamine contamination that has caused China to ban pork imports from one Olymel plant. So far only the one Olymel plant in Quebec has been delisted as an approved supplier to China and its managers are scrambling to find out how some of […] Read more
Argentina hit by double port strikes at height of grain harvest
BUENOS AIRES, May 31 (Reuters) – Private port grains inspectors in Argentina started a 48-hour wage strike on Wednesday, after government health inspectors called a three-day work stoppage a day earlier, also over pay. Wednesday’s strike by the URGARA inspectors’ union will halt movement of soymeal and other grains byproducts while the work stoppage announced […] Read more
China’s soybean buyers push to delay imports as processing losses grow
SINGAPORE/BEIJING, May 31 (Reuters) – China’s soybean importers are pushing to postpone or cancel cargoes mainly ordered from suppliers in Brazil as they rack up hefty losses processing the commodity into cooking oil and animal feed ingredients, said three trade sources. China, which buys around 60 percent of soybeans traded worldwide, took advantage of strong […] Read more
Canada pig feet shipment flagged in China for banned drug
WINNIPEG, Manitoba, May 30 (Reuters) – A Canadian shipment of pig feet to China, produced by Olymel LP, has tested positive for residues of banned growth drug ractopamine and may curb future trade, Canadian government and industry officials say. China views the tainted shipment as a “systemic failure” of Canada’s program that certifies pork sent […] Read more
U.S. winter wheat might have low protein
CHICAGO, May 30 (Reuters) – The earliest reports from the start of the U.S. hard red winter wheat harvest underscored industry fears of a second straight year of low protein, a factor that shifts the market’s focus to prospects for the North American spring wheat crop, a higher-protein variety. “It’s probably a foregone conclusion at […] Read more
Canada pork shipment flagged in China for banned drug
WINNIPEG, Manitoba, May 30 (Reuters) – A Canadian shipment of pig feet to China has tested positive for residues of banned growth drug ractopamine and may curb future trade, Canadian government and industry officials say. China views the tainted shipment as a “systemic failure” of Canada’s program that certifies pork sent to China is free […] Read more
Canola down in light trade
Canola fell again Monday, but whether that signalled continuing pressure in North American oilseeds or was simply an echo from Friday was impossible to tell. With Memorial Day closing markets south of the line, canola traded on its own. “Volumes are extremely low as you’d expect on a day when the U.S. markets are closed,” […] Read more
EU rapeseed forecast little changed
PARIS, May 29 (Reuters) – Crop consultancy Strategie Grains’ monthly forecast of this year’s rapeseed crop in the European Union was little changed, with a cut to expected output in top grower Germany mostly offset by upward revisions in other countries. It projected 2017-18 production of rapeseed-canola, the EU’s main oilseed crop, at 21.35 million […] Read more
Bearish USDA report rattles CME live cattle futures
CHICAGO, May 26 (Reuters) – Chicago Mercantile Exchange live cattle futures on Friday finished sharply lower, hit by fund liquidation and the morning’s bearish U.S. Department of Agriculture Cattle-On-Feed report, said traders. The report showed the number of cattle placed in feedlots in April hit a 14-year high for the month. Traders said fund liquidation […] Read more
