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U.S. livestock: Lean hogs end mixed as market assesses trade battles

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tagged cattle futures China closing markets CME feeder cattle hog futures Japan lean hog live cattle Memorial Day
Chicago | Reuters -- U.S. lean hog futures on the Chicago Mercantile Exchange (CME) closed mixed on Monday as traders weighed positive news of easing trade tensions with Mexico and Canada against signs that trade ties with China are worsening. The U.S. struck deals last week to lift tariffs on steel and aluminum imports from Mexico and Canada and eliminate retaliatory tariffs on U.S. products, including pork and beef. The deals remove a major obstacle to legislative approval of a…
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New federal standard to expand beer ingredient options

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tagged beer flavouring food and drug fruit gluten honey ingredients maple syrup regulations spices standards sulphites
More variety in allowable ingredients and more requirements for declarations are now part of the federal rules on what can be called beer in Canada. The federal government on May 1 announced "modernized" beer standards under Canada's Food and Drug Regulations (FDR) -- the rules laying out the requirements to be met by a product labelled, packaged, sold and advertised as beer in Canada. The FDR updates are expected to allow brewers to "develop new products by using new ingredients…
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Input Capital steps back from mortgage expansion plans

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tagged Canola Growers canola market China Input Capital mortgages streaming trade disruptions
Up against the current canola market, "commodity streaming" firm Input Capital has put off plans to ramp up its mortgage business with canola growers. The publicly traded Regina company in February announced a "comprehensive review of strategic alternatives to enhance shareholder value" and said it was in "an ongoing search for appropriate scalable sources of capital to fund mortgages." But…
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Canada vows ‘full steam ahead’ on ratifying trade pact

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tagged aluminum free trade Freeland NAFTA Parliament Pence ratification steel tariffs Trudeau USMCA
Ottawa | Reuters -- Canada will move quickly to ratify the new North American trade pact, Foreign Minister Chrystia Freeland said Saturday, a day after the United States agreed to lift tariffs on Canadian steel and aluminum. U.S. President Donald Trump had imposed the global "Section 232" tariffs of 25 per cent on steel and 10 per cent on aluminum in March 2018 on both Canada and Mexico on national security grounds, invoking a 1962 Cold War-era trade law. The metals tariffs were…
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U.S. livestock: Live cattle rise as Japan drops U.S. beef import curbs

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tagged 30 months beef imports BSE cattle futures closing markets CME feeder cattle hog futures Japan lean hog live cattle
Chicago | Reuters -- U.S. live cattle futures on the Chicago Mercantile Exchange (CME) closed higher on Friday, buoyed by news that Japan will eliminate long-held restrictions on U.S. beef imports, traders said. The agreement reopens full beef trade after Japan in 2003 banned U.S. beef over concerns about bovine spongiform encephalopathy (BSE), which roiled the beef industry in the United States and elsewhere. Japan restored partial access in 2005 for U.S. beef from cattle 20…
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Japan opens doors to full access of U.S. beef imports

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tagged BSE exports Japan Perdue U.S. beef USDA UTM
Washington | Reuters -- Japan has agreed to eliminate its long-held restrictions on U.S. beef imports, opening full access to U.S. cattle products after more than 15 years, the head of the U.S. Department of Agriculture said in a statement on Friday. "The new terms, which take effect immediately, allow U.S. products from all cattle, regardless of age, to enter Japan for the first time since 2003," U.S. Agriculture Secretary Sonny Perdue said in the statement. The agreement…
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U.S. grains: Corn extends rally, wheat touches six-week high

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tagged cbot China closing markets corn futures MGEX Midwest Plains planting soybean futures spring wheat wheat futures
Chicago | Reuters -- U.S. corn futures extended their rally on Friday, jumping to a four-month high, as forecasts of heavy rain sweeping a wide path across the U.S. Midwest next week fuelled concerns about worsening planting delays. Chicago Board of Trade (CBOT) corn prices rose for the fifth session, trading through its 100-day moving average. Meanwhile, an early rally in wheat futures sparked a wave of profit-taking late in the trading session, but they still ended the week on…
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U.S. boosts trade pact’s outlook lifting tariffs on Canadian, Mexican metals

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tagged aluminum beef bourbon metals Mexico NAFTA Pence pork ratification retaliatory tariffs steel tariffs Trudeau Trump USMCA
Washington/Ottawa | Reuters -- The United States struck deals on Friday to lift tariffs on steel and aluminum imports from Canada and Mexico, the three governments said, removing a major obstacle to legislative approval of a new North American trade pact. The separate agreements, which will not impose U.S. quotas on Canadian and Mexican metals shipments, will also eliminate Mexican and Canadian retaliatory tariffs on a broad range of U.S. products, including pork, beef and…
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Newfoundland’s ag minister, critic returned in election

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tagged agriculture election Forestry and Agrifoods Agency Gerry Byrne Jim Lester Labrador Liberals Newfoundland tories
The cabinet minister in charge of Newfoundland and Labrador's Forestry and Agrifoods Agency held onto his seat in Thursday's provincial election, as has his critic across the aisle. Gerry Byrne, the Liberal MHA for Corner Brook since 2015 and the province's minister of fisheries and land resources since 2017, held his riding on Thursday against Progressive Conservative challenger Tom Stewart by a spread of 754 votes. Byrne, a former economic development officer, was a federal Liberal MP…
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U.S. grains: Corn to seven-week high as rain threatens planting

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tagged cbot closing markets corn futures export sales Midwest planting soybean futures wheat futures
Chicago | Reuters -- U.S. corn futures rose on Thursday for a fourth straight session as dismal weather forecasts signalled further planting delays in the Midwest, prompting commodity funds to cover short positions, analysts said. Chicago wheat futures hit a one-month high, led by corn, and soybeans followed the firm trend. Chicago Board of Trade July corn settled up 9-1/2 cents at $3.79 per bushel, after reaching $3.80-3/4, its highest since March 29 (all figures US$). CBOT…
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