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Cargill halts public reporting of quarterly results

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tagged annual revenue cargill cash flow private companies publicly traded companies quarterly earnings reports
Reuters -- Privately held U.S. agribusiness Cargill said on Wednesday it will no longer issue public releases on quarterly earnings, halting the disclosures that the company has provided since 1996. Cargill, the largest privately held company in the United States, said it will continue to publicly disclose annual revenue and the percentage of operating cash flow that is reinvested back into the company. The decision to halt the quarterly releases, which provided insight into…
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India to let farmers sell produce directly to traders, retailers

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tagged APMC Act auctions bulk buyers cartels farmers india Narendra Singh Tomar processors retailers wholesale markets
New Delhi | Reuters -- India is to allow farmers to sell produce directly to bulk buyers such as trading companies, food processors and large retailers, the farm minister said on Wednesday. This would obviate the need for farmers to bring their produce to India's more than 7,000 regulated wholesale markets and let buyers buy from the fields, Narendra Singh Tomar told reporters after a cabinet meeting chaired by Prime Minister Narendra Modi. The cabinet agreed to pass an emergency…
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Dutch to cull mink at farms hit by COVID-19 outbreak

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tagged COVID-19 cull Dutch government farmed mink mink mink farms Netherlands pandemic transmission zoonotic diseases
Amsterdam | Reuters -- The Dutch government on Wednesday ordered mink culled at nine farms where animals have been infected with the coronavirus, fearing they could form a reservoir of disease infecting humans after the country's current outbreak has passed. "Clearing the infected farms is in the interest of both human health and animal health," Agriculture Minister Carola Schouten said in a letter to parliament, adding the cull would commence on Friday and farmers would be…
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U.S. indicts Pilgrim’s Pride CEO for alleged chicken price-fixing

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tagged antitrust chicken Claxton Department of Justice Pilgrim's Pride Poultry price-fixing
Washington/Chicago | Reuters -- The CEO of Pilgrim's Pride Corp., a major U.S. poultry company, was indicted along with three other current and former industry executives on charges of seeking to fix the price of chickens, the U.S. Department of Justice said Wednesday. A grand jury in Denver indicted Jayson Penn, the president and CEO of Pilgrim's Pride, which is mostly owned by JBS USA, as well as a former executive at the Colorado-based chicken supplier, the department said in a…
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COVID-19 and the farm: Stories from the GFM network

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tagged coronavirus COVID-19
COVID-19 has added an unprecedented level of uncertainty and disruption to the agricultural communities we serve. Throughout this crisis, Glacier FarmMedia is leveraging the strength of its farm news network to help you stay up to date on developments important to your family and farm. Look here for links to all the coverage provided by our publications. These are difficult times. We hope our efforts to keep you informed about the impact on agriculture are helpful. – Laura Rance,…
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Pork packer considering Moose Jaw’s ex-beef plant

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tagged culls Donald's Donald's Fine Foods hogs JBS Moose Jaw Nilsson Bros. packing Pork processing sows Swine Thunder Creek Pork XL Beef XL Foods
A potential buyer's study could soon show whether a former beef packing plant in southern Saskatchewan has the bones to support a pork processing operation for cull sows. Richmond, B.C.-based Donald's Fine Foods, which since 2010 has operated the Thunder Creek Pork hog plant at Moose Jaw, announced last week it plans to run a "feasibility study to determine the viability" of Moose Jaw's former XL Beef plant as a sow processing facility. Such a study would "consider the financial…
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U.S. livestock: Live cattle sag as wholesale beef prices retreat

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tagged beef Beef Cattle Cattle closing markets CME COVID-19 feeder cattle futures hogs lean hog live cattle Pork prices slaughter Swine USDA
Chicago | Reuters -- U.S. live cattle futures fell on Tuesday, with the August contract hitting its lowest in nearly a month as the U.S. slaughter pace picked up, sending more beef into retail channels, traders said. Chicago Mercantile Exchange (CME) June live cattle settled down three cents at 95.3 cents/lb., while most-active August ended down 2.775 cents at 96.2 cents/lb. after dipping to 96 cents, the contract's lowest since May 6 (all figures US$). CME August feeder cattle…
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U.S. grains: Soybeans up on China sales hopes

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tagged cbot China closing markets Corn exports futures harvest Hong Kong soybean Wheat winter wheat
Chicago | Reuters -- U.S. soybean futures hit a three-week high on Tuesday on confirmation of U.S. soy sales to top global importer China and signs of an improving export outlook, traders said. Wheat futures fell as the U.S. winter wheat harvest got rolling while corn ended modestly higher. Chicago Board of Trade July soybeans settled up 10 cents at $8.50-1/2 per bushel after reaching $8.56, the contract's highest since May 12 (all figures US$). CBOT July wheat ended down…
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With beer taps off, malt barley demand down

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tagged Australia Barley barley acres beer beer consumption brewing Canada China COVID-19 exports malt malting pandemic
MarketsFarm -- Declining beer consumption due to the COVID-19 pandemic will also lead to reduced demand for the malt barley to brew it -- but acreage to the crop is unlikely to see much adjustment on the Prairies. "I don't think there's any question -- without sporting events, and festivals, and concerts - that beer consumption will go down," said Peter Watts, managing director of the Canadian Malting Barley Technical Centre. While domestic retail beer sales were reportedly up,…
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India reduces tariffs on lentils

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tagged Canada exports imports india Lentils tariffs United States
MarketsFarm -- India is temporarily reducing import tariffs on lentils originating from most countries. The India government's Central Board of Indirect Taxes and Customs on Tuesday posted "Notice 26/2020-Customs," which lowers import taxes on most lentils entering the country, from 30 per cent to 10 per cent. The reduction, which takes immediate effect, runs until Aug. 31, 2020. However, lentils "originating in or exported from the United States" will still face 30 per cent…
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