CHICAGO (Reuters) — Bunge Ltd., one of the world’s largest agricultural trading houses, reported fourth-quarter profit on Thursday that was well below analysts’ expectations due to deteriorating oilseed-crushing margins in China and further hedging losses. Declines in earnings and revenue were disappointing after Bunge’s projection last year that fourth-quarter results would be strong due to […] Read more
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Bunge quarterly profit disappoints again
Local fibre industry builds network of stakeholders
Called fibresheds, these value chain networks can comprise farmers, dye producers, woolen mills, artisans, designers and retailers
GUELPH, Ont. — Fibresheds are beginning to catch on. “This is like where the organic food industry was 15 or 20 years ago,” said Jennifer Osborn of the Upper Canada Fiber Shed, who talked about the phenomena at the Guelph Organic Conference Jan. 30. “With this model, you can have a lot of impact, producing […] Read moreCME Group to close most open-outcry futures pits
(Reuters) — The world’s largest futures market operator will shutter almost all of its open-outcry futures pits by July 2. The move by CME Group Inc. rings the closing bell on a once-raucous tradition that has been in decline since the rise of computerized trading. The decision ousts traders of products ranging from grain and […] Read more
Weak loonie, strong soy, lift canola Wednesday
Markets adjusted a little on Wednesday following the U.S. Department supply and demand report on Tuesday. The weaker loonie helped canola edge higher as did the stronger U.S. soy complex. The big funds are rolling their positions from March into May. U.S. wheat and soybeans were narrowly higher on Wednesday, rebounding from losses earlier in […] Read more
CME live cattle, hogs slump on demand worries, supply buildup
By Theopolis Waters CHICAGO, Feb 11 (Reuters) – Chicago Mercantile Exchange live cattle futures fell hard Wednesday on profit-taking led by slack meat sales ahead of increased supplies later, traders said. February closed 0.500 cent per pound lower at 158.600 cents, and April down 2.675 cents to 151.100 cents. Tuesday’s U.S. Department of Agriculture supply/demand […] Read more
CP workers say they’re ready to walk off job Sunday
Workers at Canada’s second largest railway company repeated today that they are ready to walk off the job as early as Sunday unless a negotiated settlement can be reached with their employer, Canadian Pacific Railway. About 3,300 unionized workers at CP, including locomotive engineers and conductors, will be in a position to strike as early […] Read more
Swede midge not serious prairie threat, but still a concern
Swede midge is not a serious threat to prairie canola crops, at least for now, says an Agriculture Canada entomologist. The pest has been in northeastern Saskatchewan for a number of years and is spreading to other parts of the Prairies, but research suggests the type of Swede midge found on the Prairies isn’t as […] Read more
USDA sees rising U.S. gov’t farm payments in 2015-17
(Reuters) — Falling crop prices will lead to higher direct government payments to U.S. farmers in 2015 through 2017, the U.S. Department of Agriculture said in its annual long-term projections report released on Wednesday. Most of the payments will fall under two new programs under the 2014 farm bill, the Agriculture Risk Coverage and Price […] Read more
U.S. challenges sweeping Chinese export subsidies
WASHINGTON (Reuters) — The United States on Wednesday launched a legal challenge to Chinese export subsidies supporting billions of dollars of exports across a wide swathe of industries from steel to shrimp. U.S. Trade Representative Michael Froman said Chinese companies in designated export hubs benefited from free or subsidized services, cash grants and other incentives […] Read more
Canada labour minister says encouraging parties at CP Rail to bargain
VANCOUVER (Reuters) — Canada Labour Minister Kellie Leitch on Wednesday said she was encouraging the parties at Canadian Pacific Railway Ltd. to bargain but declined to speculate on what Ottawa might do if workers went out on strike. CP says its managers will be ready to take over if engineers and conductors in Canada walk […] Read more
