Snow, avalanches, rain delay grain movement to U.S. ports

Reading Time: 2 minutes Chicago | Reuters -- Severe winter weather has slowed rail deliveries of crops to shippers in the U.S. Pacific Northwest, sending freight rates soaring and prompting Asian buyers to seek fill-in loads as they wait for the backlog at ports to clear. Blizzards, avalanches and heavy rain in recent weeks have hit transport of corn,[...]

U.S. grains: Wheat, corn climb as dollar softens; soybeans drift lower

Reading Time: 2 minutes Chicago/Reuters – U.S. wheat futures rose about one per cent on Thursday, supported by short-covering and a setback in the dollar, which tends to make U.S. grains more attractive to those holding other currencies, traders said. Corn futures edged higher after a seesaw trade while soybeans declined on ideas of improving crop prospects in South […] Read more

U.S. livestock: CME live cattle soars to 6-month high on cash price hopes

Reading Time: 2 minutes Chicago/Reuters – Chicago Mercantile Exchange live cattle futures on Thursday surged to a six-month high, fuelled by the recent rally in wholesale beef values and steady-to-firmer cash price expectations for unsold cattle, said traders. December live cattle, which will expire on Friday, closed 2.725 cents per pound higher at 118.700 cents. Most actively traded February […] Read more

Zambia president orders air force to help fight maize pest

Reading Time: < 1 minute Lusaka, Reuters – Zambia’s President Edgar Lungu has enlisted the country’s air force to join other government agencies in an emergency operation to contain the spread of pests that have invaded maize fields in many parts of the country. The armyworms, which feast on young maize plants and are capable of wiping out entire fields, […] Read more

U.S. livestock: Cash, beef prices send CME live cattle to 4-1/2-month top

Reading Time: 2 minutes Chicago/Reuters – Chicago Mercantile Exchange live cattle futures rose on Wednesday, hitting a 4-1/2-month high, with traders citing strong wholesale beef demand and steady-to-firmer preliminary cash prices. December live cattle, which will expire on Friday, closed up 1.025 cents per pound to 115.975 cents. Most actively traded February ended up 1.375 cents to 117.375 cents. Wednesday […] Read more

U.S. grains: Corn, wheat, soy retreat in technical year-end trade

Reading Time: 2 minutes Chicago/Reuters – U.S. corn, wheat and soybean futures fell on Wednesday in technically driven trade as investors squared positions toward the end of the year and the dollar firmed, analysts said. Additional pressure stemmed from easing concerns about crop weather in South America. Chicago Board of Trade March corn futures settled down 6-3/4 cents at $3.48-1/4 […] Read more

U.S. wheat farmers fret over failing market hedges as incomes slump

Reading Time: 3 minutes Chicago/Reuters – Kansas wheat farmer Michael Jordan is breaking with a century-old tradition grain producers have trusted to protect their businesses: He has stopped using futures to hedge risks to his crops. The CME Group’s Kansas City wheat contract sets grain prices for millers, exporters and other grain buyers both today and in the future. […] Read more

New step in Port of Churchill’s potential sale

Reading Time: 2 minutes Commodity News Service Canada – Ownership of the Hudson Bay rail line and shuttered Port of Churchill may change soon, as the port’s current owners and a collection of northern First Nations have inked a formal agreement, according to a company press release. Omnitrax, the rail company that currently owns the northern Manitoban port, has […] Read more