Chicago | Reuters –– Chicago Mercantile Exchange live cattle futures closed higher on Tuesday, after traders exited nearby positions to avoid taking delivery and packers seemed to be bidding more aggressively than expected in the U.S. southern Plains. Traders said there was talk of Texas packers on Tuesday bidding in line with what they paid […] Read more
U.S. livestock: Live cattle rise as traders exit nearby positions
U.S. grains: Futures fall as USDA forecasts more corn acres
Chicago | Reuters — U.S. corn and soybean prices fell on Thursday as commodity traders reacted to forecasts of increased corn plantings and grain production, as well as predictions of falling prices in the coming growing season. But wheat futures bounced back during the day’s trading, firming for the first time in six sessions on […] Read more
U.S. grains: Prices jump on short-covering, oil rise
Chicago | Reuters –– Chicago Board of Trade corn futures gained for the second straight day on Wednesday, as the grain market enjoyed a price bump from investors continuing to cover short positions and as crude oil prices rose. Front-month CBOT March corn cracked through several moving averages during the day — including the 50-day […] Read more
Monsanto increases job cuts as corn, chemical sales slump
Reuters — Monsanto said a souring farm economy and currency woes will push its 2016 earnings to the lower end of expectations, while a cost-cutting drive will lead the world’s largest seed company to slash more jobs. Low commodity prices also should lead to more consolidation in the agricultural sector, CEO Hugh Grant said, about […] Read more
U.S. grain prices soar as floods shut waterways, threaten crops
Chicago | Reuters — U.S. grain farmers scrambled to find shelter for their crops and handlers hunted for alternative transportation routes, as widespread floods shut waterways from Illinois to Missouri and spurred a surge in physical prices of corn and soybeans. The sudden jump in prices could complicate a months-long stand-off between farmers who are […] Read more
Syngenta still among options for Monsanto takeover bids
St. Louis | Reuters — Monsanto executives are discussing whether the world’s largest seed company should acquire agrochemical rivals, including top pesticide maker Syngenta, Monsanto president Brett Begemann said Tuesday. “Everybody’s talking now. There’s multiple ways things can occur,” he said. Monsanto abandoned a $45 billion bid for Syngenta in August (all figures US$). Begemann […] Read more
U.S. livestock: Heavy meat supplies sour CME cattle, hog futures
Chicago | Reuters –– Chicago Mercantile Exchange cattle futures fell sharply on Friday, rounding out the week on a sour note as traders sought cover amid a steep downturn in wholesale beef prices. CME live cattle and feeder cattle futures gave back much of the gains they had made in the past two sessions, after […] Read more
U.S. livestock: CME live cattle, hogs continue gains for second day
Chicago | Reuters — Livestock futures traders continued to hunt for cover on their short positions Thursday, resulting in Chicago Mercantile Exchange cattle futures climbing a second day after prices slid to contract lows earlier this week. The Chicago Mercantile Exchange saw live cattle and feeder cattle futures on Wednesday bounce back strongly from contract […] Read more
Merck to buy Harrisvaccines to boost livestock portfolio
Chicago | Reuters — Merck and Co.’s animal health unit will buy privately-held Harrisvaccines to expand its portfolio of animal vaccines as the U.S. livestock industry seeks new defenses against diseases, the companies said on Thursday. Financial details were not disclosed. The deal, which is expected to close by year-end, follows rival Zoetis’ agreement, announced […] Read more
U.S. livestock: CME cattle, hogs surge on bargain-buying after selloff
Chicago | Reuters — The Chicago Mercantile Exchange saw live cattle and feeder cattle futures bounce back strongly from contract lows on Wednesday, with prices hitting their daily limits as traders snapped up bargains and investors covering their short positions. Meanwhile, CME lean hog futures also saw a turnaround as traders bet that contract lows, […] Read more
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