Reuters — Syngenta has rejected ChemChina’s offer to buy the Swiss agricultural chemicals group, citing regulatory concerns, Bloomberg reported on Thursday. China National Chemical Corp., better known as ChemChina, offered about 449 Swiss francs (C$597) per share for Syngenta, valuing the Basel, Switzerland-based company at about 41.7 billion Swiss francs (C$55.4 billion), according to the […] Read more
Syngenta reported rejecting ChemChina takeover offer
Merck to buy Harrisvaccines to boost livestock portfolio
Chicago | Reuters — Merck and Co.’s animal health unit will buy privately-held Harrisvaccines to expand its portfolio of animal vaccines as the U.S. livestock industry seeks new defenses against diseases, the companies said on Thursday. Financial details were not disclosed. The deal, which is expected to close by year-end, follows rival Zoetis’ agreement, announced […] Read more
U.S. grains: Wheat firms but weak exports limit gains
Chicago | Reuters — U.S. wheat futures firmed on Thursday on technical buying including short-covering, but advances were modest as export sentiment remained gloomy. Soybean futures also rose while corn closed narrowly mixed. At the Chicago Board of Trade, December wheat settled up 3-1/4 cents at $4.98 a bushel, after briefly trading above $5 for […] Read more
NDP’s deputy ag critic moves to first chair
The federal New Democrats have promoted their deputy agriculture critic to the lead post in their new shadow cabinet. NDP leader Tom Mulcair on Thursday announced Ruth Ellen Brosseau, the MP for the central Quebec riding of Berthier–Maskinonge since 2011, as the party’s critic for agriculture and agri-food, replacing defeated Niagara-area MP Malcolm Allen. Brosseau, […] Read more
EU scientists say glyphosate unlikely to cause cancer
Brussels | Reuters — Glyphosate is unlikely to cause cancer in humans, according to the European Food Safety Authority (EFSA), which nevertheless proposed limits on Thursday on the amount of residue of the herbicide widely used by farmers deemed safe to consume. The EFSA advises EU policymakers and its conclusion could lead the 28-member European […] Read more
U.S. livestock: CME cattle, hogs surge on bargain-buying after selloff
Chicago | Reuters — The Chicago Mercantile Exchange saw live cattle and feeder cattle futures bounce back strongly from contract lows on Wednesday, with prices hitting their daily limits as traders snapped up bargains and investors covering their short positions. Meanwhile, CME lean hog futures also saw a turnaround as traders bet that contract lows, […] Read more
U.S. grains: Corn, soybeans rebound after USDA data-driven decline
Chicago | Reuters — U.S. corn and soybean futures edged higher on Wednesday on consolidation and technical buying after hitting contract lows a day earlier due to bearish U.S. Department of Agriculture supply and demand forecasts. Wheat closed firm after prices hit two-week lows on Tuesday, with a sluggish export pace overhanging the market. USDA […] Read more
Olymel buying into Quebec pork packer Lucyporc
Canada’s biggest pork and poultry exporter is set to take a stake in a Quebec pork packer specializing in cuts for the Japanese market and other overseas buyers. Olymel, the meat packing and processing arm of Quebec’s Coop Federee, announced a share exchange Monday with Quebec livestock producer and processor Groupe Robitaille, which would give […] Read more
Alltech to buy up Canadian feed firm Masterfeeds
Animal nutrition firm Alltech is set to make itself one of Canada’s top animal food and livestock feed players, with a deal in hand to buy the stake in Masterfeeds it doesn’t already own. Alltech, a Lexington, Kentucky-based international firm in aggressive acquisition mode, announced Tuesday it will buy all outstanding shares of Masterfeeds, Inc. […] Read more
CBOT weekly outlook: Soybeans likely headed down, corn sideways
CNS Canada –– Corn and soybean futures at the Chicago Board of Trade plunged on Tuesday as fresh estimates hit the market. Near-term, soybeans aren’t expected to improve much, one U.S. analyst said, though a lack of farmer selling could bring some upside to corn. The U.S. Department of Agriculture (USDA) on Tuesday released its […] Read more
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