Chicago | Reuters — Chicago Board of Trade corn and wheat futures firmed on Monday on a round of short-covering after U.S. regulatory data released late on Friday showed that speculators had boosted their bearish bet on both commodities. Wheat futures notched the biggest gains, rallying 2.4 per cent. Corn and wheat weakened early but […] Read more
U.S. grains: Wheat, corn post short-covering rally
U.S. EPA abandons changes to biofuel program
New York | Reuters — The U.S. Environmental Protection Agency has backed off a series of proposed changes to the nation’s biofuels policy after a massive backlash from corn-state lawmakers worried the moves would undercut ethanol demand, according to a letter from the agency to lawmakers seen by Reuters. EPA Administrator Scott Pruitt said in […] Read more
U.S. grains: Corn, soy sag under weight of harvest
Chicago | Reuters — U.S. corn futures neared contract lows on Friday and soybeans fell to the lowest levels in a week, pressured by active harvest progress in the heart of the Midwest crop belt, analysts said. Wheat fell to a near two-month low on technical selling, extending losses in the last hour of trade. […] Read more
Greig: Federal tax backtracks aside, much of impact still unknown
The Canadian Association of Farm Advisors’ annual tax update showcased confusion and frustration at the federal government’s shifting plan to change how small business is taxed. “I was very, very offended by all of this,” said Kurt Oelschlagel, of BDO Canada, who was part of a panel on the government changes at the CAFA event, […] Read more
In glyphosate review, WHO cancer agency edited out ‘non-carcinogenic’ findings
London | Reuters — The World Health Organization’s cancer agency dismissed and edited findings from a draft of its review of glyphosate herbicide that were at odds with its final conclusion that the chemical probably causes cancer. Documents seen by Reuters show how a draft of a key section of the International Agency for Research […] Read more
Outlook improves for Prairies’ winter cereals
CNS Canada — Following concerns in September about seeding winter cereals in dry conditions, acres are down but crops seeded in Western Canada are doing good heading into the winter. “Very little moisture is required in the fall to get that seed to germinate and start growing, especially if it’s been seeded shallow,” said Amanda […] Read more
Ottawa scraps plans for new limits on capital gains
The federal finance ministry has backed away from proposed plans for new limits on capital gains exemptions, over concerns of “unintended consequences” for businesses such as farms. Finance Minister Bill Morneau on Thursday announced the federal government “will not be moving forward with measures that would limit access to the LCGE (lifetime capital gains exemption),” […] Read more
U.S. grains: Soy, wheat, corn firm on export demand
Chicago | Reuters — U.S. soybean futures firmed on Thursday on supportive export demand and light bargain buying following a three-day slide, along with renewed optimism about demand for soy-based biodiesel fuel, analysts said. Wheat and corn rose on light technical buying and bullish weekly export sales data. Chicago Board of Trade November soybean futures […] Read more
U.S. grains: Wheat down on weak export demand
Chicago | Reuters — U.S. wheat futures fell for a third straight day on Wednesday, pressured by plentiful global supplies and strong competition for export business, especially from Russia, traders said. Corn fell, following wheat, and soybeans also declined after a choppy session. Chicago Board of Trade December wheat settled down 4-3/4 cents at $4.30 […] Read more
CP’s third-quarter grain handle down
“Volume momentum” in its third quarter has Canadian Pacific Railway looking forward to a rosier year-end ledger, though its grain traffic for the quarter dragged on that momentum. Calgary-based CP on Tuesday reported net income of $510 million on $1.595 billion in revenues for the third quarter ending Sept. 30, up from $347 million on […] Read more
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