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StatsCan confirms small crops, but reaction subdued

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CNS Canada -- Canada's grain and oilseed production will be much smaller than the record crops of 2013-14, according to survey results Statistics Canada released Thursday -- but a lack of reaction in futures markets was seen as a sign that the trade is already looking beyond the report. "All of the numbers came in at the low end of trade expectations, which is bullish on the surface," said Mike Jubinville, of ProFarmer Canada. However, the immediate reaction in the futures market…
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Cargill plant fined over cut wastewater samples

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One of the largest beef packing plants in Canada has been slapped with an $80,000 fine after reporting "errors" in its wastewater data in early 2012. Alberta's Provincial Court levied the fine against the Canadian arm of Cargill for "failing to immediately report intentionally-diluted wastewater samples" from its High River, Alta. plant, the provincial environment department said in a release Wednesday. The offenses in question took place in the beef plant between February and March…
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Russia eases some food bans to support own industry, Finland

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Moscow | Reuters -- Russia's government has eased some self-imposed bans on Western food, allowing imports of material that could be used to boost its own agricultural industry and softening the costs on some firms in neighbour Finland. Earlier this month, Russia banned all meat, fish, dairy, fruit and vegetable imports from the U.S., EU, Norway, Canada, and Australia for one year to retaliate again sanctions slapped on Moscow over the Ukraine crisis. The tough bans isolated…
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Russia shuts four McDonald’s restaurants amid Ukraine tensions

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Moscow | Reuters -- Russia ordered the temporary closure of four McDonald's restaurants in Moscow on Wednesday, a decision it said was over sanitary violations but which comes against a backdrop of worsening U.S.-Russian ties over Ukraine. The four restaurants ordered to suspend operations by the state food safety watchdog included the first ever McDonald's in Russia, which opened in the last days of the Soviet Union, and which the company says is its most frequented in the…
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CBOT corn, soybeans see bearish weather and yield estimates

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CNS Canada -- Corn contracts on the Chicago Board of Trade closed mixed on the week ending Wednesday, with only September contracts closing higher. December contracts for corn closed at US$10.38 per bushel, down from $10.4675 the previous week. Traders are focusing on yield estimates from ongoing crop tours in the U.S., according to industry participants. "That, along with a crop conditions report that came out Monday afternoon at 3 p.m., show that corn and (soy)beans are in good…
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ICE weekly outlook: More downside possible for canola

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CNS Canada -- ICE Futures Canada canola contracts moved sharply lower during the week ended Wednesday, following the weakness seen in global vegetable oil markets. The November future hit fresh contract lows, falling to $420.50 per tonne during the Wednesday trading session, beating the previous fresh low of $424.50 on Aug. 15. The bias is still pointed lower for oilseeds because of expectations of a record large 2014-15 U.S. soybean crop, meaning there could be more downside…
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U.S. grains: New-crop soy hits contract low as tour sees big yields

Chicago | Reuters -- New-crop U.S. soybean futures touched a new contract low on Wednesday and corn slid as a closely watched crop tour projected hefty U.S. yields in key states and forecasts for rain fuelled massive harvest expectations. Wheat retreated from gains on Tuesday as concerns eased about the risk of reduced supplies from Ukraine, a leading grain exporter. Instead, traders focused on the Pro Farmer Midwest Crop Tour, which entered its third day with…
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U.S. livestock: CME hogs slide with cash, pork prices

Chicago | Reuters -- Chicago Mercantile Exchange hog futures on Wednesday posted losses for a second straight day, pressured by eroding cash hog and wholesale prices. October ended down 2.325 cents at 92.5 cents per pound, and December at 86.425 cents, 2.2 lower (all figures US$). Wednesday afternoon's average price of hogs in Iowa/Minnesota slumped $2.83 per hundredweight (cwt) from Tuesday to $96.68, the U.S. Department of Agriculture said. Separate USDA data showed the…
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Dr. Oetker orders McCain pizza

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Germany's Dr. Oetker is set to take a bigger slice of the Canadian and U.S. pizza market, with a deal to buy McCain Foods' North American frozen pizza business. New Brunswick-based McCain announced Wednesday it will sell its non-Pizza Pocket-related frozen pizza business to Dr. Oetker for an undisclosed sum, pending regulatory approvals in Canada. The deal includes two McCain pizza processing plants: a Canadian facility at Grand Falls, N.B., about 180 km northwest of Fredericton, and a…
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N.B. microbreweries cleared for on-site sales

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Microbreweries in New Brunswick will no longer be required to move product through the provincial liquor agency before they can open on-site stores. NB Liquor has scrapped a regulation in its Brewer's Agency Store Policy that required new breweries to sell at least 100 hectolitres (10,000 litres) of product through the Crown-owned vendor network before an on-site store would be allowed. "This regulation was put into place to ensure product quality; however, after discovering it…
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