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U.S. grains: Soybeans dive to biggest weekly loss in 6-1/2 years

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tagged Brazil cbot closing markets Corn futures rainfall South America soybean USDA Wheat
Chicago | Reuters -- Chicago soybean futures slid more than four per cent on Friday -- while corn futures dropped their daily limit -- as rains in key South American growing areas offered relief amid tight global supplies, overshadowing strong weekly U.S. export data. Wheat futures tumbled four per cent. The Chicago Board of Trade (CBOT) most-active soybean contract ended 58-1/2 cents lower at $13.11-3/4 per bushel, its biggest loss since Aug. 10, 2018 (all figures US$). For…
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U.S. livestock: Feeder cattle gain from falling feed prices

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tagged beef Cattle cattle on feed closing markets CME Corn feeder cattle Feedlot futures hogs lean hog live cattle placements Pork Swine USDA
Chicago | Reuters -- CME Group feeder cattle futures rose on Friday, bolstered by falling corn futures. March feeder cattle gained five cents to settle at 144.15 cents, adding 9.575 cents for the week — a 7.1 per cent gain as corn fell 5.8 per cent, its biggest drop since the week ending March 20, 2020 (all figures US$). CME's live cattle futures also gained, though the U.S. Department of Agriculture's monthly Cattle on Feed report, released after markets closed, showed higher…
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U.S. grains: South American supply issues wane

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tagged argentina Brazil cbot China closing markets Corn exports futures Russia soybean Wheat
Chicago | Reuters -- Chicago soybeans ended the session slightly up after a three-session losing streak on Thursday, but larger early gains were erased as rains across South America eased supply worries. Corn prices firmed, supported by fresh demand amid tightening global supplies, while wheat fell on a lack of fresh export news. The Chicago Board of Trade (CBOT) most-active soybean contract ended 3/4 cent higher to $13.70-1/4 per bushel after gaining 18 cents in earlier trading…
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U.S. livestock: Live cattle climb ahead of USDA report

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tagged beef Cattle cattle on feed closing markets CME cutout feeder cattle futures hogs lean hog live cattle placements Pork Swine USDA
Chicago | Reuters -- CME Group live cattle futures gained on Thursday ahead of a closely watched monthly Cattle on Feed report, due out on Friday from the U.S. Agriculture Department. Traders anticipate the report will show fewer cattle heading into feedlots, as recent rallies in the grain market have increased feed costs. "The incentive, for the last three months, has been to limit the cattle you place," said Altin Kalo, economist at Steiner Consulting Group. "It becomes more…
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Feed weekly outlook: Offshore demand still lifting Prairie barley

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tagged acres Barley Cereals Corn export feed feedlots grain new-crop per tonne Wheat
MarketsFarm -- Solid offshore demand for Canadian barley remains the key driver in the domestic feed market, keeping prices high. "It's certainly not driven by southern Alberta, it's driven by Vancouver and the export business," said Allen Pirness, of Market Place Commodities in Lethbridge, on the continued strength in barley bids. Typically, arbitrage opportunities would see Alberta feedlots pull barley in from Saskatchewan. But that's not the case this year, he said, as growers…
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Investor nominates directors for Corteva, aims to oust CEO

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tagged board CEO Corteva Dow DuPont investor Jim Collins pesticides productivity seed Starboard
Reuters -- Activist investor Starboard Value LP said on Thursday it has nominated eight directors to the board of Corteva, seeking to oust its chief executive officer and take control of the pesticide and seed maker. Starboard, in its letter to Corteva's chairman, said it had identified someone new for the top job, but declined to name the person. Corteva's chairman Greg Page said the board unanimously backed CEO Jim Collins. The agricultural supplier said while it agreed with…
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Facing green push on farm, fertilizer makers look to sea for growth

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tagged ammonia cf industries clean energy electricity Fertilizer fuels hydrogen nitrogen Nutrien renewable ships yara
Winnipeg/Oslo | Reuters -- Two of the world's biggest fertilizer producers, CF Industries and Yara International, are seeking to cash in on the green energy transition by reconfiguring ammonia plants in the U.S. and Norway to produce clean energy to power ships. The consumption of oil for transportation is one of the top contributors to global greenhouse gas emissions that cause climate change, and fertilizer producers join a growing list of companies adjusting their business models…
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India offers to suspend farm reforms

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tagged farmers india Modi processors protests reforms retail wholesale markets
New Delhi | Reuters -- India's government on Wednesday offered to suspend implementation of three new farm laws that have triggered the biggest farmers' protests in years, which farm union leaders said they would now consider calling off. The cornerstone of the reform, introduced in September, allows private buyers to deal directly with farmers. Angry farmers, who say that will make India's traditional wholesale markets irrelevant and leave them at the mercy of big retailers and…
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U.K. to ask to join Trans-Pacific trading bloc ‘shortly’

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tagged Australia Biden Brexit Britain Canada CPTPP European Union free trade Japan Liz Truss New Zealand trade deals Trans-Pacific Partnership U.K. U.S.
London | Reuters -- Britain will soon submit its application to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) trade bloc, trade minister Liz Truss said on Wednesday. Since deciding to leave the European Union, a process it completed at the end of 2020, Britain has been seeking out new trading arrangements around the world and sees the CPTPP as an important pillar of its new independent trade policy. "We will shortly submit our formal…
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