Chicago | Reuters –– U.S. wheat futures dropped to their lowest level since 2010 after the U.S. government on Thursday said year-end global supplies would be the biggest in history. Prices crumbled as the U.S. Department of Agriculture’s forecasts for record-large world wheat production and ending stocks fuelled fears about excessive inventories. Concerns about large […] Read more
U.S. grains: Wheat drops to lowest since 2010 on record supply estimate
Agrium’s forecast disappoints
Reuters — Canadian fertilizer and ag retailer Agrium has joined rival PotashCorp in forecasting a weaker-than-expected 2016 profit, as prices for crop nutrients remain weak. Agrium’s Toronto-listed shares fell as much as 5.2 per cent to $110.89, its lowest in a year, as investors ignored a better-than-expected quarterly profit. The company, which sells seed, fertilizers […] Read more
Fertilizer expected to be pricier by springtime
CNS Canada –– Relatively cheap natural gas has helped push down fertilizer prices for Canadian farmers over the past winter, but that should change by springtime. One Manitoba farm leader noted urea fertilizer that went for $545 per tonne last August could now be acquired for $445 per tonne. “Phosphate fertilizer was going for $721 […] Read more
Chipotle shuts for staff food safety meeting
Reuters — U.S. burrito chain Chipotle Mexican Grill shut its stores for four hours on Monday to hold a nationwide staff meeting, where CEO Steve Ells apologized for E. coli and norovirus outbreaks and laid out the company’s recently developed food safety program. Chipotle also said it would spend about $10 million to help local […] Read more
U.S. grains: Soybeans set new 2016 low as rains hit dry Argentina
Chicago | Reuters — U.S. soybean futures slid to seven-week lows on Monday after weekend rains across major exporter Argentina reduced the likelihood that dry weather would curb yields. Wheat futures dropped to a one-month low and corn dropped to its lowest level in three weeks as losses in other markets, including equities and energy, […] Read more
U.S. grains: Wheat falls to three-week low
Chicago | Reuters — U.S. wheat futures slumped for a second session on Friday, anchored by ample global supplies and after top importer Egypt canceled a tender for the second time this week. Corn and soybeans also fell at the Chicago Board of Trade, with all three markets posting a weekly decline ahead of a […] Read more
Mosaic cuts phosphate production
Reuters –– U.S.-based fertilizer producer Mosaic Co. said Wednesday it would cut output of phosphates by up to 400,000 tonnes with rotating plant shutdowns in the first quarter, due to weak demand. Fertilizer producers have seen profits hit by falling prices, triggered in part by weak currencies in importing countries such as Brazil. “The long-term […] Read more
CBOT weekly outlook: Corn, soybeans await fresh news
CNS Canada — Corn and soybean futures at the Chicago Board of Trade are waiting on fresh news for direction, according to one U.S. analyst, as both markets move on mostly technical trading short-term. “There’s some bullish influence, there’s some bearish influence, but at the end of the day, there’s just not much push either […] Read more
U.S. grains: Wheat falls on poor export data
Chicago | Reuters –– Wheat futures on the Chicago Board of Trade fell 1.5 per cent on Thursday on disappointing U.S. export sales data, traders said. Corn and soybeans also fell, retreating from six-week highs set this week, on improving crop prospects in South America. At the CBOT, March wheat settled down 7-1/4 cents at […] Read more
U.S. grains: Soy, corn ease from six-week highs
Chicago | Reuters — U.S soybeans and corn futures fell on Wednesday, pressured by profit-taking after recent six-week highs and outlooks for needed rains in South America. Wheat settled narrowly higher at the Chicago Board of Trade after a more than one per cent drop in the dollar against a basket of currencies made U.S. […] Read more
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