Washington | Reuters — Senior U.S., Canadian and Mexican officials on Friday ended a week of talks without a deal to modernize NAFTA, agreeing instead to resume negotiations soon, ahead of a deadline next week issued by U.S. House of Representatives Speaker Paul Ryan. The failure to secure a quick deal underscores uncertainty over the […] Read more
Negotiators fail to reach NAFTA deal
U.S. grains: Soybeans to one-month low on technicals, trade worries
Chicago | Reuters — U.S. soybean futures fell to their lowest level in a month on Friday on a mix of technical selling ahead of the weekend and uncertainty about how trade disputes would affect exports, analysts said. Wheat and corn also fell, pressured by long liquidation and bearish data in Thursday’s supply/demand reports from […] Read more
Canola stocks comfortable, eyes on new crop
CNS Canada — Canadian canola stocks are rather large heading into the new growing season, but attention now is firmly on new-crop production. Statistics Canada on Friday pegged canola supplies in the country as of March 31 at 9.1 million tonnes, the second-largest on record for that time of year and about 1.1 million tonnes […] Read more
Ryan sets May 17 deadline for NAFTA deal
Washington | Reuters — U.S. House Speaker Paul Ryan has set a May 17 deadline to be notified of a new NAFTA trade deal to give the current Congress a chance of passing it, while Mexico’s top trade official on Thursday said time was running short to meet such a deadline. Ryan, who controls legislation […] Read more
U.S. grains: Wheat slips on bearish USDA crop forecast
Chicago | Reuters — Chicago Board of Trade wheat futures fell to a near two-week low on Thursday after the U.S. Department of Agriculture’s first official estimate of the 2018-19 U.S. wheat harvest came in above trade expectations. Soybean futures rose, while corn followed wheat lower. CBOT July wheat settled down four cents at $5.06-1/2 […] Read more
El Nino pattern could emerge by 2018-19 winter
Reuters — The El Nino weather pattern, associated with warmer and wetter weather than usual that may give rise to damaging conditions, could emerge by the 2018-19 Northern Hemisphere winter, with neutral conditions expected to prevail through November this year, a U.S. government weather forecaster said on Thursday. The last El Nino, a warming of […] Read more
Ford scrambles to restart truck production after fire at supplier
Detroit | Reuters — Ford Motor Co. is working with a key supplier to shift some parts production from Michigan to Ontario, after a fire and subsequent parts shortages forced the automaker to halt manufacturing of its highly profitable full-size pickups, according to sources familiar with the companies’ plans. The supplier, Chinese-owned Meridian Magnesium Products, […] Read more
NAFTA talks drag on as U.S., Mexico spar over autos
Washington | Reuters — Top-level talks to update the North American Free Trade Agreement made little headway on Wednesday as the U.S. and Mexico sought to settle differences over the key issue of automobiles, three well-placed sources said. With time fast running out to reach a deal, the two NAFTA members are discussing a U.S. […] Read more
U.S. grains: Wheat, soy, corn lower ahead of monthly USDA reports
Chicago | Reuters — U.S. wheat futures fell to a one-week low on Wednesday on position-squaring ahead of a monthly crop report from the U.S. Department of Agriculture and forecasts for welcome rains in Russia’s crop belt, analysts said. Soybean and corn futures were also lower ahead of the USDA’s report, while soyoil futures firmed, […] Read more
Trump said considering counting ethanol exports toward quotas
New York | Reuters — U.S. President Donald Trump told a group of senators on Tuesday he is considering allowing exported ethanol to count toward the volumes mandated under the nation’s biofuels law, a move intended to appease both Big Oil and Big Corn by cutting the refiners’ regulatory costs while preserving demand for corn. […] Read more
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