Markets
MOSCOW/PARIS, Feb 16 (Reuters) – Russia and the European Union are expected to return to strong competition for the rank of the world’s biggest wheat exporter in the new 2017/18 marketing season, which starts on July 1, as prospects for their crops are bright so far, analysts said. For global consumers, especially in North Africa […] Read more
Markets
Russia, EU to vie for top spot in key wheat markets in 2017/18
LIVESTOCK-CME live cattle, hog futures slump on profit-taking
CHICAGO, Feb 15 (Reuters) – Chicago Mercantile Exchange live cattle futures on Wednesday bowed to profit-taking, prompted by softer wholesale beef values and uncertainty about cash prices this week, traders said. Technical selling contributed to market losses, they noted. February live cattle closed 0.600 cent per pound lower at 116.775 cents, and below the 10-day […] Read more
Italy pasta labeling plan raises Canadian concerns
WINNIPEG/ROME, Feb 15 (Reuters) – Canada has raised concerns with Rome about Italy’s plan to require country of origin labels on pasta sold there, Canada’s agriculture minister said on Wednesday about a move that is alarming Canadian wheat exporters just as a free trade deal gained European approval. Rome sent a draft decree to the […] Read more
Spring harvest likely to weigh on feed grain prices
Winnipeg, Feb. 14 (CNS Canada) – The seasonal lows in the Western Canadian feed grain market may stick around longer than normal this year, as the industry awaits the abnormal spring harvest of those fields left to overwinter this year. “The seasonals are fairly consistent,” said Jim Beusekom of Market Place Commodities in Lethbridge, Alta., […] Read more
Bunge shares surge 8 pct as 4th-qtr profit tops estimates
Feb 15 (Reuters) – U.S. agricultural trader Bunge Ltd on Wednesday reported a better-than-expected quarterly profit and forecast strong earnings growth in 2017 on expected massive corn and soybean harvests in South America, sending shares nearly 8 percent higher. Earnings were propelled by higher sugar and ethanol prices and improved edible oil margins in Brazil, […] Read more
Canada secure clearance to kick-start free trade deal
STRASBOURG, Feb 15 (Reuters) – The European Union and Canada secured clearance on Wednesday for their contentious free trade deal and the removal of import duties that supporters say will boost growth and jobs on both sides of the Atlantic. The two parties can claim success for their open markets policy following months of protest […] Read more
LIVESTOCK-Firmer beef quote rallies CME live cattle futures
CHICAGO, Feb 14 (Reuters) – Chicago Mercantile Exchange live cattle futures posted strong gains on Tuesday, reversing Monday’s selloff, fueled by short-covering and wholesale beef price rebound, said traders. Technical buying ensued after investors bought the February contract and simultaneously sold deferred months in a trading strategy known as bull spreads. February live cattle closed […] Read more
Despite Trump talk of ‘tweaking’ NAFTA, Canada could still be hurt
OTTAWA, Feb 14 (Reuters) – Although U.S. President Donald Trump says he only wants to tweak trade ties with Canada, his pledge to renegotiate NAFTA to focus on Mexico is almost impossible and Canada will not emerge unscathed, Canadian officials and trade experts said on Tuesday. Trump had warm words for Canadian trade following a […] Read more
GRAINS-Soy slips as Brazil harvest accelerates; wheat also down
LONDON, Feb 14 (Reuters) – Chicago soybean futures fell on Tuesday for a second successive session on Tuesday, pressured by the rapidly advancing harvest of a record crop in Brazil and much-needed rains in Argentina. Wheat edged down for the first time in six sessions as ample global supply pulled the market away from its […] Read more
U.S. farmers race to sell 2017 soybeans before South American harvest
CHICAGO, Feb 13 (Reuters) – U.S. farmers are taking advantage of a surge in soybean prices and have sold ahead up to half what they expect to harvest this year, as huge global supplies and a record South American crop coming earlier than usual bode ill for later sales. Chicago Board of Trade November futures, […] Read more
