CNS Canada — Data released today from the U.S. National Agricultural Statistics Service showed large expected increases in spring wheat and durum production this year. Spring wheat production in the country, not including durum, is forecast at 614 million bushels, up 48 per cent from 2017. Of that, 584 million bushels, or 95 per cent […] Read more
U.S. spring wheat, durum expected to surge
Beef, eggs, feed fatten Cargill’s profits
Chicago | Reuters — Strong global demand for beef and animal feed fattened grain trader Cargill’s profits in fiscal year 2018, which were also boosted by trade tensions and South American weather woes, the company said on Thursday. For the full year, adjusted operating earnings reached $3.2 billion, up six per cent from fiscal 2017 […] Read more
U.S. grains: Soybeans bounce after hitting new lows on trade war fears
Chicago | Reuters — U.S. soybean futures fell to contract lows on Thursday after the U.S. Department of Agriculture said a trade war with China would curb exports and swell supplies, but the market clawed back those losses late in the session in a short-covering bounce. Corn rallied from earlier contract lows as USDA, in […] Read more
U.S. EPA scraps plan to force refiners to blend more biofuels
New York | Reuters — The U.S. Environmental Protection Agency ditched a detailed plan that would have forced refiners to blend more biofuels into their gasoline and diesel in 2019 to compensate for volumes likely to be exempted under the agency’s small refinery hardship waiver program, according to newly released EPA documents. The plan would […] Read more
U.S. grains: Soybeans end near decade low as trade war deepens
Chicago | Reuters — U.S. soybean futures dropped to contract lows on Wednesday and the most active contract closed at the lowest in nearly 10 years as an escalating trade war with China stoked worries about long-term export demand from the world’s top importer of the oilseed. Favourable crop weather in the U.S. Midwest weighed […] Read more
Consider hedging against rate hikes, farmers advised
CNS Canada — The Bank of Canada has raised its benchmark interest rate to 1.5 per cent, marking the fourth time it has raised rates since last summer. The increase from 1.25 per cent is the base rate retail banks pay for short-term loans, but consumer rates for mortgages, lines of credit and other loans […] Read more
U.S. grains: Corn hits contract lows on favourable weather
Chicago | Reuters — U.S. corn futures fell to contract lows on Tuesday on forecasts for crop-boosting rain and milder temperatures in the heart of the U.S. corn belt, with three-quarters of the nation’s crop already in good-to-excellent shape. Wheat futures tumbled more than three per cent on dull export demand and improving spring wheat […] Read more
J.M. Smucker to sell U.S. baking brands
Reuters — J.M. Smucker Co. said on Monday it would sell its U.S. baking business, which includes brands such as Pillsbury, Martha White and Hungry Jack, to private equity firm Brynwood Partners for US$375 million. The deal includes a manufacturing facility in Toledo, Ohio, but excludes the baking business in Canada, the company said. “The […] Read more
U.S. grains: Soybeans fall on China trade woes, good crop weather
Chicago | Reuters — U.S. soybean futures retreated on Monday, giving up more than half of their gains from a bargain-buying rally before the weekend as investors weighed the impact of reduced Chinese demand following Beijing’s tariffs on U.S. supplies. Improved growing conditions in the U.S. Midwest also weighed on soybeans and corn before weekly […] Read more
U.S. biofuels industry, advocates see hope in Pruitt’s successor
New York | Reuters — Corn growers and biofuel producers cheered the resignation of U.S. Environmental Protection Agency chief Scott Pruitt in the hope that his successor may give them more access and fewer threats to reducing domestic requirements. Pruitt led U.S. President Donald Trump’s aggressive efforts to roll back environmental protections. He drew the […] Read more
Cyber-Savvy Farmer
