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U.S. grains: Soybeans rise as drought withers crops in Argentina

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tagged argentina Brazil cbot closing markets corn futures soybean futures wheat futures winter wheat
Chicago | Reuters -- U.S. soybean futures on Wednesday rose for the sixth time in seven sessions on expectations that a drought-reduced crop in Argentina would buoy demand for U.S. supplies. Gains were limited by plentiful global supplies and strong production prospects in Brazil. Wheat slipped to a two-week low, pressured by high world supplies and rain relief for parched crops in the U.S. Plains, while corn futures ended near unchanged. Speculative investors have shifted to…
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U.S. livestock: Cattle stumble on profit-taking, lower cash trades

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tagged cash cattle cattle futures closing markets CME feeder cattle hog futures lean hog live cattle
Chicago | Reuters -- Chicago Mercantile Exchange live cattle futures notched their largest daily losses in nearly a month on Wednesday, pressured by profit-taking and weaker trades in U.S. Plains cash cattle markets, traders said. Feeder cattle futures fell nearly two per cent and lean hogs ebbed from their session highs, with each easing in sympathy with declines in more actively traded live cattle. CME April live cattle futures settled down 1.5 cents to 126.225 cents/lb. (all…
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Steady sunflower acreage expected

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tagged Beausejour Dow Island M+C Commodities manitoba Spitz sunflower sunflower acres sunflower seed prices sunflower yields
CNS Canada -- Manitoba's sunflower market is holding steady for the time being, with acres likely unchanged on the year despite shifts in the processing sector. PepsiCo last week announced it will shut its Spitz sunflower seed processing plant at Bow Island in southeastern Alberta and shift its production to the U.S. Meanwhile, Manitoba has recently seen M+C Commodities open up shop, processing sunflower oil at Beausejour. "With the latest news, (acres will) probably be flat,"…
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Final version of Trans-Pacific trade deal released

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tagged Australia CAFTA Canada CPTPP intellectual property Japan protectionism Trans-Pacific Partnership Trump
Wellington/Sydney | Reuters -- The final version of a landmark deal aimed at cutting trade barriers in some of the Asia-Pacific's fastest-growing economies was released on Wednesday, signalling the pact was a step closer to reality even without its star member the U.S. More than 20 provisions have been suspended or changed in the final text ahead of the deal's official signing in March, including rules around intellectual property originally included at the behest of…
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Spitz to continue using Canadian sunflower seed

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tagged alberta Bow Island Droog Frito-Lay Medicine Hat PepsiCo seed growers Spitz sunflower seed
The parent company for sunflower seed processor Spitz is poised to close the plant in the brand's home town, but says it's still "committed" to Canadian-grown seeds. PepsiCo, the U.S. parent for Frito-Lay, the owner of Spitz International since 2008, announced Thursday it will close the company's processing plant at Bow Island, Alta., about 60 km southwest of Medicine Hat, "later this year." Spitz…
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Pulse weekly outlook: Prairie market ‘nonexistent’ due to trade dispute

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tagged fumigation india Modi pulse crops pulses tariffs Trudeau
CNS Canada -- As the western Canadian pulse crop industry awaits news from Prime Minister Justin Trudeau's visit to India, two traders aren't holding their breath. "I'm not expecting any big announcements or any big headway other than wording like 'working towards understandings' and things like that," said Adam Krieser of Canpulse Foods in Saskatoon. Trudeau is expected to discuss India's fumigation and import tariffs later this week. [Read more]

U.S. grains: Soymeal rally lifts soy, corn

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tagged argentina cbot closing markets corn futures soybean futures soymeal wheat futures
Reuters -- U.S. soybean meal futures jumped to their highest level since July 2016 on Tuesday as a drought kept the heat on crops in Argentina, the world's top exporter of the livestock feed. The rally helped lift soybean and corn prices, which touched seven-month and six-month highs, respectively. Sizzling conditions in Argentina since November have prompted traders and analysts to slash harvest estimates, fuelling projections that export business could shift to the U.S. from…
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U.S. livestock: Hogs rally from four-month lows on fund buying

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tagged cattle futures cattle on feed closing markets CME feeder cattle hog futures lean hog live cattle pork prices wholesale pork
Chicago | Reuters -- U.S. lean hogs climbed 1.7 per cent on Tuesday, rallying on technical and investment fund buying after falling to more than four-month lows last week, traders and analysts said. Rising wholesale pork prices also bolstered hog futures amid expectations the meat was becoming more competitive with more pricier beef cuts. Live cattle futures were narrowly higher at the Chicago Mercantile Exchange but finished below earlier multi-month highs. CME April lean hog…
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Conagra to shed Canadian processed vegetable, fruit business

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tagged Arctic Gardens Bonduelle canned Carriere ConAgra Del Monte frozen fruit vegetables
The company behind Arctic Gardens, Graves and Bonduelle canned and frozen vegetables in Canada is set to add the Del Monte brand to its roster. Conagra Brands, which makes and sells Del Monte processed fruits and vegetables in the Canadian market, announced Tuesday it will sell that business to France's Bonduelle Group for $43 million. "We continue to reshape our portfolio and focus resources in areas that best support our business strategy and drive value creation for shareholders," Sean…
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B.C. plans trade challenge of Alberta’s wine ban

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tagged AGLC alberta bitumen british columbia Canadian Free Trade Agreement CFTA dispute settlement Kinder Morgan Notley vineyards wine wineries
The Alberta government's ban on imports of wine from British Columbia is poised to be the first case challenged under the new interprovincial Canadian Free Trade Agreement (CFTA). The British Columbia government announced Monday it will formally challenge the Alberta ban through the CFTA dispute settlement process. Alberta Premier Rachel Notley on Feb. 6 ordered the Alberta Gaming and Liquor Commission (AGLC) to put an "immediate halt" on imports of B.C. wines. The wine ban followed a…
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