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Mosaic looks for bargain buys as fertilizer sector slumps

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tagged acquisitions Esterhazy fertilizer Mosaic phosphate potash
Reuters -- U.S. fertilizer company Mosaic Co., grappling with falling prices and profits, is looking for acquisitions that could be bargain-priced in a weak commodity sector. The world's largest producer of finished phosphate products on Thursday forecast lower selling prices for potash and phosphate in the current quarter. The Plymouth, Minn.-based company also reported fourth-quarter profit that fell less than expected, and announced a $75 million share repurchase program (all…
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First La Nina since 2012 expected in coming months

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tagged Climate Prediction Center CPC El Nino La Nina
New York | Reuters -- Even as the El Nino weather phenomenon continues to impact global temperatures and crops, its counterpart La Nina is increasingly expected to emerge in the coming months for the first time in four years. The return of La Nina, Spanish for "the girl" and characterized by unusually cold ocean temperatures, is possible later this year, the U.S. government forecaster said Thursday. It joined other forecasters in projecting La Nina could follow on the heels of one…
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U.S. wheat futures could be scraping bottom

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tagged cbot K.C. wheat MGEX wheat exports wheat futures wheat prices wheat stocks
CNS Canada -- A general downtrend in U.S. wheat futures remains in place, with all three markets hitting fresh contract lows over the past week. However, there may not be much more room to the downside, according to an analyst. "The (U.S. Department of Agriculture) reports on Tuesday (Feb. 9) were not beneficial for the wheat market," said Bryan Strommen, market analyst with Progressive Ag in Fargo, N.D. Those reports included confirmation of record-large world wheat stocks…
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Buyers eating up Lethbridge feed barley

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tagged feed barley feed grains feed wheat lethbridge malting barley milling grade
CNS Canada -- Lethbridge feed barley prices have strengthened on bargain buying, according to one market watcher, while demand for feed wheat is steady at best. Lethbridge barley prices have increased from $200-$205 in January to $205-$215 in February, as the grain becomes more difficult to source, said Jim Beusekom, president at Market Place Commodities. "It's not an issue, but it becomes a market factor," he said. Demand for feed barley has increased, he said, as buyers have…
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U.S. grains: Exports spark gains in soybeans

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tagged cbot closing markets corn futures soybean futures USDA wheat futures
Chicago | Reuters -- U.S. soybean futures rose 1.3 per cent on Thursday as the U.S. Agriculture Department's report of stronger-than-expected exports spurred a round of short-covering, traders said. Corn futures were steady to weak, with the front-month contract settling unchanged while deferred contracts posted modest declines. Corn had fallen for six days in a row heading into Thursday's session. Wheat fell for the fifth time in six sessions, weighed down by technical sales and…
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U.S. livestock: CME live cattle tumble with cash prices

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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 fell hard on Thursday, led by more disappointing prices for market-ready, or cash, cattle, traders said. February live cattle closed 2.35 cents/lb. lower at 130.125 cents, and April ended down 2.275 cents, at 129.525 cents (all figures US$). Cash cattle on Thursday morning in the U.S. Plains brought $128-$134/cwt, down from mostly $134-$136 last week, said feedlot sources. Earlier this week packers in Texas…
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Prairies still divided

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tagged Canada prairies temperature weather
The Prairies remained split Wednesday between a warm west and colder east, as lows dropped to just -1 C around Lethbridge and High River, Alta. and -3 C around Swift Current and Shaunavon, Sask., but slipped to -17 around Melfort in northeastern Saskatchewan and -31 C around Hadashville in southeastern Manitoba. Highs Wednesday reached just -16 C around Winnipeg and -12 C in eastern Saskatchewan from Nipawin through Hudson Bay, Kamsack, Yorkton, Moosomin and Carnduff, but hit 0 C around…
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Crude’s slide hampers demand for Canadian biofuel

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tagged biodiesel biofuels blending CRFA crude oil ethanol oil prices
CNS Canada -- The trickle-down effect of slumping crude oil prices is being felt in the Canadian biofuel market and softening demand for corn and soybeans. Traditionally, ethanol is cheaper than gasoline, which encouraged processors to blend more than the mandated amount, according to Andrea Kent, president of the Canadian Renewable Fuels Association (CRFA). "When you look at low gasoline prices now, that price advantage for ethanol really really shrinks," she said. That means…
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CBOT weekly outlook: Corn, soybeans stuck in trading range

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tagged cbot corn futures Futures International soybean futures
CNS Canada -- Corn and soybeans at the Chicago Board of Trade are stuck in a rut, according to one U.S. analyst, as fresh data revealed high supplies of both commodities. Corn - Since last week corn futures have shed 10.75 cents per bushel in the March contract, and 10.75 cents per bushel in the May contract. "Traders are just kind of sitting on the sidelines right now," said Terry Reilly, senior commodity analyst at Futures International. Corn is in a…
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ICE weekly outlook: Canola testing longtime support

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tagged canola futures canola prices ICE Futures Canada oilseed markets
CNS Canada -- ICE Futures Canada canola contracts moved lower during the week ended Wednesday, breaking below nearby chart support in the process. The March contract fell below the $460 per tonne level during the week for the first time in nine months, but managed to recover to settle at $462.80 on Wednesday. A correction is possible, but from a chart standpoint the next downside target comes in at the $445-$450 area, said Mike Jubinville of ProFarmer Canada. "There are…
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