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Normalized relations with Cuba seen positive for U.S. agriculture

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tagged cargill Cuba USDA
Chicago | Reuters -- The normalization of diplomatic relations between the United States and Cuba is an "important opportunity" for U.S. agriculture that will make exports of U.S. farm goods cheaper, easier and less time consuming for shippers, U.S. Agriculture Secretary Tom Vilsack said Wednesday. President Barack Obama announced on Wednesday that the U.S. plans to restore diplomatic relations with Cuba more than 50 years after they were severed -- a major policy shift after…
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U.S. livestock: CME feeder cattle extend limit-down string to fifth day

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tagged cattle futures CME hog futures
Chicago | Reuters -- Thinly traded Chicago Mercantile Exchange feeder cattle futures settled down their three cents per pound daily price limit for a fifth straight day on Wednesday, led by the recent plunge in cash feeder cattle prices, traders said. January and March closed at 216.6 cents and 212.25 cents, respectively (all figures US$). Prior to late last month, feedyards actively bought young calves, or cash feeder cattle, which have been in short supply after years of…
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U.S. grains: Wheat hits six-month high on Russia worries

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tagged cbot corn futures wheat futures
Chicago | Reuters -- Chicago Board of Trade wheat futures surged four per cent on Wednesday, rising for a fifth straight session on worries that Russia, a key global supplier, might restrict exports to cool domestic prices, traders said. Strong U.S. ethanol production bolstered corn, while soybeans firmed on technical buying. CBOT March wheat settled up 25-1/4 cents at $6.48-1/2 per bushel, after reaching $6.50-3/4, the highest spot price on a continuous price chart since May 23…
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Russia curbs grain exports to cool domestic prices

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tagged grain exports Russia
Moscow | Reuters -- Russia, one of the world's main wheat exporters, is taking steps to restrict grain exports in an attempt to cool domestic prices, as it tackles a financial crisis linked to plunging oil prices and Western sanctions. In a meeting with grain exporters on Wednesday, Deputy Prime Minister Arkady Dvorkovich said the government was using all informal instruments to restrict grain exports, two sources familiar with the matter told Reuters. Analysts say Russia is keen…
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Eastern Prairies stay cooler

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tagged Canada weather
Parts of Manitoba, eastern Saskatchewan and the Peace region still seemed unscathed Wednesday by the milder temperatures on other parts of the Prairies. Lows on Wednesday in parts of western Manitoba and the Interlake dipped to -23 C, while eastern Saskatchewan saw lows drop to the -14 to -20 C range. Lows around Grande Prairie hit -22 C. Highs on Wednesday reached +1 C around Lethbridge and -3 C in the Maple Creek area of southwestern Saskatchewan, but hit just -13 C around Russell in…
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Canada’s West Coast ports offer little relief from U.S. delays

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tagged container truckers Port Metro Vancouver Vancouver
Vancouver | Reuters -- Gridlock at U.S. West Coast ports that has forced McDonald's to ration French fries at its Japanese restaurants and interrupted supplies to retailers such as Lululemon is unlikely to be alleviated by routing cargoes through Canada, whose Pacific ports face their own problems. Capacity is already limited at Canada's largest port, Port Metro Vancouver, which is also staring at the possibility of another crippling strike by container truck drivers. Tensions…
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‘No news is good news’ for Canadian canola exports

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tagged canola canola exports
CNS Canada -- Steady end-user demand and a lack of any problems from a logistics standpoint are keeping Canadian canola exports moving at a solid pace -- but a repeat of the record business of 2013-14 is still unlikely. "There is still some demand out there, but it's probably not as strong as (at) the beginning of the crop year," said canola exporter Adrian Man, assistant vice-president for Asia Pacific at Richardson International. Transportation and weather issues that caused…
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Edible beans see price weakness against Mexican exports

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tagged beans
CNS Canada -- Black beans, coloured cranberry and kidney beans are leading the way as Manitoba's edible bean crop heads to market. According to one industry expert, prices for black beans are in the high 20s (cents per pound) while coloured cranberry and kidney beans are a bit higher. Pintos are bringing up the rear in the low-20s range. "Those prices are weaker than last year at this time, but last year was strong. So they're more into an average," said Ben Friesen, a commodity…
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U.S. livestock: CME feeder cattle drop limit fourth straight session

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tagged cattle futures CME hog futures
Chicago | Reuters -- Lightly-traded Chicago Mercantile Exchange feeder cattle futures finished down their three cents per pound daily price limit on Tuesday for a fourth day in a row following sharply lower cash prices, traders said. Fund selling, sell stops and CME live cattle's subsequent limit-down settlement further pressured feeder cattle contracts. The inability of packers to sell beef at wholesale weighed on deferred live cattle contracts, which influenced feeder cattle…
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China approves Syngenta’s Viptera corn: reports

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tagged Agrisure Viptera China syngenta
Chicago | Reuters -- Chinese authorities have informed some agriculture industry officials that the government has approved U.S. imports of a type of genetically modified corn that has sparked lawsuits against seed maker Syngenta, according to reports from Agri-Pulse and Bloomberg. Syngenta will make an announcement about Chinese government approval of Agrisure Viptera corn, known as MIR 162, when the company receives official documentation, a spokesman said in an email. The company…
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