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South Africa’s parliament approves land expropriation bill

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tagged ANC compensation expropriation farm seizure farmland Jacob Zuma South Africa Zimbabwe
Johannesburg | Reuters -- South Africa's parliament on Thursday approved a bill allowing state expropriations of land to redress racial disparities in land ownership, an emotive issue two decades after the end of apartheid. Most of South Africa's land remains in white hands and many commercial and small-scale farmers are currently facing tough times because of the worst drought in at least a century. The bill, in the works since 2008, will enable the state to pay for land at a…
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U.S. grains: Soybeans retreat on profit-taking

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tagged cbot closing markets corn futures soybean futures USDA wheat futures
Chicago | Reuters -- U.S. soybean futures fell on Thursday on profit-taking after rising to their highest in 20 months as soymeal pared gains, but analysts cautioned that soymeal's rally might not be over. Wheat futures rose three per cent and corn firmed, notching a 10-month top in early moves. At the Chicago Board of Trade, July soybeans settled down 5-3/4 cents at $10.79-3/4 per bushel after reaching $10.98, the highest spot price since September 2014 (all figures…
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U.S. livestock: Hogs up on pork gains, short-covering

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tagged cattle futures closing markets CME feeder cattle hog futures lean hogs live cattle
Chicago | Reuters -- U.S. lean hog futures rose as much as two per cent on Thursday, rallying to the highest levels in a week on gains in pork prices and as investors exited short positions ahead of a long holiday weekend, traders said. Most-active July hogs settled 1.45 cents higher at 81.275 cents/lb., with the 1.9 per cent gain the biggest rise since May 11 (all figures US$). The U.S. Department of Agriculture after the close of futures trading on Wednesday showed sharply…
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New Whole Foods chain 365 faces tough mission

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tagged 365 fresh fruit fresh vegetables Los Angeles supermarkets Whole Foods
Los Angeles | Reuters -- Whole Foods Market's 365 grocery chain offers lower prices and more technology than the company's namesake supermarkets, but experts say the fledgling brand must beat its many rivals without hijacking customers from its parent. 365, which debuted on Wednesday with a bright and airy store in Los Angeles' Silver Lake neighborhood, is critical to Whole Foods. In the fiercely competitive market for fresh fruit and vegetables, Sprouts Farmers Market, Trader Joe's…
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ICE weekly outlook: Canola looks set to stay above $500

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tagged canola crush canola futures canola markets canola prices ICE Futures Canada soy complex
CNS Canada -- ICE Futures Canada canola contracts don't appear to be in much danger of falling below the $500 per tonne level anytime soon. Both front-month contracts spent much of the week ended Wednesday hanging around the $520 mark. Surging action from the U.S. soy complex has kept canola supported, even on days when the Canadian dollar is higher, a Winnipeg-based trader noted. "There's been support from both bean oil and meal," said Keith Ferley of RBC Dominion Securities.…
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CBOT weekly outlook: Surprise demand propping up prices

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tagged argentina Brazil cbot corn futures soybean futures USDA
CNS Canada -- Unexpected demand for corn and soybeans is supporting markets in Chicago, according to one U.S. trader, a trend he expects to continue. Soybeans -- "It's just not over yet," said Sean Lusk, director of commercial hedging with Walsh Trading in Chicago. Chicago Board of Trade (CBOT) soybeans rallied in late April after a U.S. Department of Agriculture (USDA) report showed lower ending stocks. After seeing some profit-taking pressure, the…
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U.S. grains: Soy surges on concerns over Argentina soymeal

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tagged cbot closing markets corn futures soybean futures wheat futures
Reuters -- U.S. soybean futures jumped three per cent on Wednesday, the biggest gain for the most-active contract in two weeks, boosted by concerns about a possible shortage of soymeal from Argentina. U.S. wheat futures rose on short-covering and forecasts of unfavourable rain in the U.S. Plains grain belt, while corn advanced to a one-month high on technical buying. Chicago Board of Trade July soybeans gained 30-3/4 cents at $10.85-1/2 a bushel, touching a one-week high (all…
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U.S. livestock: Weak cash outlook limits live cattle advances

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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 gained on Wednesday, helped by short-covering and bargain hunting after recent market losses, traders said. But expectations of softer market-ready, or cash, cattle prices by Friday, and subsequent increased supplies, tempered market advances, traders said. "Futures is an anticipatory market. It is already anticipating cash is going to go lower," said Larry Hicks, president of CattleHedging.com. On Tuesday, a…
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Pearce: Ontario crop conditions a tale of two scenarios

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tagged corn emergence corn planting eastern Ontario ontario southwestern Ontario soybean planting wheat crop wheat seeding
When it comes to getting a handle on current crop conditions in Ontario, it really depends on who you ask. Conditions and progress in the southern portion of the province vary -- some considerably -- compared to those in eastern Ontario, particularly where it comes to planting corn and soybeans. If there's one common theme for both areas, it's that most growers would like to see some rain in the coming week. Across much of southern Ontario, the winter wheat crop is the outstanding story…
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Klassen: Improving margins support feeder market

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tagged cattle demand cattle futures cattle markets cattle prices fed cattle feeder cattle
Average western Canadian feeder cattle prices were $3-$5 above week-ago levels, with top-quality larger groups trading as much as $8-$10 higher. While current pen closeouts remain underwater, the deferred positions are somewhat brighter, which has rejuvenated buying enthusiasm. Most risk management strategies rely on cattle feeders staying in the game all year. There appears to be pent-up demand as many feedlot operators were waiting for this opportunity after the equity erosion during the…
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