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Glencore in talks to sell further stake in ag unit

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tagged agriculture unit CPPIB G3 Canada Glencore Qatar SALIC Saudi Arabia Viterra
London | Reuters -- Commodity trader and miner Glencore is in talks to sell a further 9.9 per cent stake in its agricultural unit, negotiating with bidders that missed out on the 40 per cent sold to the Canada Pension Plan Investment Board (CPPIB), two sources with knowledge of the matter said. Glencore, whose ag unit includes Canada's top grain handler, Regina-based Viterra, declined to comment. Bidders include a different Canadian pension fund, state-backed Saudi Agricultural…
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StatsCan report confirms tightening canola, wheat supplies

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tagged barley stocks canola stocks grain stocks grain stocks report principal field crops statistics canada statscan wheat stocks
CNS Canada -- Canadian canola and wheat supplies are much tighter heading into the final months of the 2015-16 crop year than they were at the same point a year ago, according to Statistics Canada’s latest stocks report. StatsCan pegged the country’s canola stocks, as of March 31, at 7.49 million tonnes in its report released Friday. That compares with 8.33 million at the same point the previous year. The tighter supplies were in line with trade guesses, although most…
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Beijing to release frozen pork to temper price rise

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tagged Beijing China frozen pork pork pork prices pork subsidy
Beijing | Reuters -- Beijing will release 3.05 million kilograms of frozen pork from its reserves over the next two months to combat rising pork prices, the city government said on Wednesday. Starting from Thursday and lasting until July 4, the Beijing municipal government will sell 50,000 kg of pork each day to 121 supermarket chains in Beijing, the Beijing Municipal Commission of Commerce said in an announcement on its website. In addition, the government will provide a…
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World food prices edge up in April

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tagged FAO Food and Agriculture Organization food prices price index United Nations vegetable oils
Rome | Reuters -- World food prices rose slightly in April, up for the third month in a row but they remained almost 10 per cent lower than a year earlier, the United Nations food agency said on Thursday. The Food and Agriculture Organization's (FAO) food price index, which measures monthly changes for a basket of cereals, oilseeds, dairy products, meat and sugar, averaged 151.8 points, up 0.7 per cent from March. The index has declined annually for four straight years to near…
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Seeding canola into dry soils not out of question: CCC

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tagged canola acres canola seeding dry soils seeding depth soil moisture
Seeding now rather than waiting for rain may be a viable option for Prairie canola growers looking out on dry fields without much chance of precipitation, the Canola Council of Canada suggests. Facing temperatures in the mid-30s C, and soil moisture down at about the one- to two-inch mark, a few Prairie growers on social media Thursday said they planned to put off seeding to try and conserve soil moisture. Cereals or pulses -- more suitable for deeper seeding to reach moisture -- may be…
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U.S. livestock: CME live cattle rally fifth day in a row

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tagged cattle futures closing markets CME feeder cattle hog futures lean hogs live cattle
Chicago | Reuters -- Chicago Mercantile Exchange live cattle futures finished higher for a fifth successive session on Thursday, driven by lighter cattle weights and the morning's firm wholesale beef prices, traders said. June live cattle closed 2.175 cents/lb. higher at 119.625 cents, and August ended up 2.125 cents at 117.425 cents (all figures US$). Thursday morning's wholesale beef values stabilized after falling six straight days, pressured by ample cattle supplies and…
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U.S. grains: Profit-taking sparks sharp drop in soybeans

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tagged cbot closing markets corn futures soybean futures wheat futures
Chicago | Reuters -- U.S. corn and soybean futures fell on Thursday, with soy dropping two per cent, on profit-taking by investment funds looking to lock in gains from recent rallies. Wheat futures slid 1.8 per cent to their lowest since mid-April, pressured by reports of strong crop prospects in the U.S. Plains and weak export demand. Traders said investment funds liquidated 12,000 to 20,000 contracts from their long soybean position and 8,000 corn contracts. "The market is…
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Heat moves off eastward

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tagged Canada prairies temperature weather
The hottest temperatures on the Prairies moved east into Saskatchewan Wednesday, as highs at WeatherFarm stations reached just +14 to +18 C in much of the Peace region, +19 C around Winnipeg and +26 C around Edmonton, but hit +33 C around Saskatoon and Melfort, Sask. and +31 C around Swan River in northwestern Manitoba. Lows dropped to -1 C in patches in Manitoba around Carberry, Elie and Fisher Branch, but otherwise remained above freezing, cooling down to +3 C around Estevan, Sask. and +5…
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ICE weekly outlook: Canola hits $500, watching volumes

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tagged canola futures canola markets canola prices ICE Futures Canada palm oil vegetable oil
CNS Canada -- ICE Futures Canada canola contracts seem to have found a new range during the week ended Wednesday, with both the July and November contracts lifting around the $500 per tonne mark. Weakness in the Canadian currency and a dry weather premium in Western Canada were behind a lot of the support. As well, a lack of farmer selling helped buoy the market as many producers hung on in search of better prices. "Anytime we drop below $10 a bushel, the selling interest from…
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CBOT weekly outlook: Soy, corn consolidating

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tagged cbot Chicago Board of Trade corn futures soybean futures USDA
CNS Canada -- Soybean futures at the Chicago Board of Trade appear to be running out of room to the upside, and are now consolidating after posting sharp gains through March and April. "A lot of positive news has now been discounted," said Rich Feltes, vice-president of research at RJ O'Brien in Chicago, noting export demand has slowed down for both soybeans and corn following the recent rally. "We're into an erratic, consolidation trade until we get more into the growing…
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