By Karl Plume CHICAGO, March 29 (Reuters) – Global commodities trader Cargill Inc. reported a higher quarterly profit on Wednesday as strong earnings from its food ingredients and protein units more than offset lagging results from South American grain trading and processing. The privately held company has been streamlining its operations to focus on higher-margin […] Read more
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Cargill 3rd-qtr profit rises on food ingredient, protein demand
Weaker cash hogs and pork sink CME hogs to 2-month low
By Theopolis Waters CHICAGO, March 28 (Reuters) – Chicago Mercantile Exchange lean hogs on Tuesday slumped to their lowest level in two months, as cash and wholesale pork values dropped on abundant supplies, said traders. They said sell stops and fund liquidation accelerated market declines. April hogs ended 0.550 cent per pound lower at 65.100 […] Read more
U.S. Plains to pile into soybeans
By Karl Plume and Julie Ingwersen CHICAGO, March 28 (Reuters) – U.S. farmers in the arid Plains states have traditionally grown wheat and raised cattle. But this year, they are leading the race to plant soybeans, as the crop provides one of the few bright spots in a gloomy farm economy. Farmers in these states, […] Read more
CFIA orders flour recall
Robin Hood All-Purpose Flour is the subject of a recall announced today by the Canadian Food Inspection Agency. Smucker Foods of Canada Corp. is recalling flour that comes in the 10-kilogram bag with best before dates of April 2018. In a March 28 news release, the CFIA said the flour may be contaminated with E. […] Read more
Cash ticket deferral plan will have ‘dramatic impact’ on farm finances: AWC
The federal government is looking for feedback on a plan to potentially eliminate deferred cash purchase tickets for grain deliveries. And judging by early reactions from western Canadian grain growers, the idea should be buried in the Back 40 and forgotten. “Many farmers use this tool to avoid having to choose between losing a sale […] Read more
May canola recovering from last week’s meltdown
Canola futures bounced higher for a second day on Tuesday, repairing some of last week’s damage. The gains were mostly in old crop months where the decline last week was also the most serious. There are ideas that last week’s meltdown was overdone, considering the strong pace of exports and domestic crush, as well as […] Read more
Argentina plans railways to expand agriculture in north
BUENOS AIRES, March 28 (Reuters) – The lack of a rail system for hauling grains from Argentina’s next farm frontier in the far north is costing the country millions of tonnes of soy, corn and wheat production every year, prodding the government to jump-start infrastructure projects. Earlier this month Argentina awarded contracts to lay 416 […] Read more
G3 announces two new elevator sites in Sask.
The company announced March 28 that it will construct one new elevator about five kilometres north of Melville, Sask., along Highway 10, and another about seven kilometres west of Saskatoon, along Highway 14. The new facilities will feature high capacity drags under the drive shed, enabling trucks to unload quickly. Both facilities will be serviced […] Read more
Feds extend livestock tax deferral areas
Repercussions of drought conditions last year continue to be felt by livestock producers in some parts of Canada, and the federal government today said it plans to expand the designated regions eligible for tax deferral. An initial list was issued in November for Alberta, Ontario and Quebec. The new list includes areas of British Columbia, […] Read more
India brings back 10 pct tax on wheat imports
NEW DELHI, March 28 (Reuters) – India on Tuesday imposed a 10 percent import tax on wheat with immediate effect, government sources said, reinstating the tariff after a gap of nearly four months that saw large overseas purchases. The government also imposed a 10 percent tax on pigeon peas, known locally as tur, after a […] Read more
