New York | Reuters –– U.S. seed and ag chem firm Monsanto has offered to pay a US$2 billion reverse break-up fee to Syngenta if it can’t obtain global regulatory approvals for an acquisition, it said in a statement on Sunday. The move, under which Monsanto would pay the fee if regulators reject the proposal, […] Read more
Monsanto sweetens Syngenta play with $2B break fee
U.S. grains: Profit-taking weighs on soybeans, corn, wheat
Chicago | Reuters — U.S. corn, wheat and soybean futures fell on Friday on end-of-week profit-taking and technical selling, traders said. It was the first time all three commodities posted losses on the same day since May 26. Some position-squaring ahead of the U.S. Agriculture Department’s monthly supply and demand report on Wednesday was noted. […] Read more
Manitoba corn crops likely unscathed
CNS Canada — Manitoba’s corn crop was nearly fully seeded ahead of crop insurance deadlines in late May, but frost events in Manitoba during the same time frame didn’t likely cause any damage. Parts of southwestern Manitoba saw a significant frost event on May 29 and 30, which killed off many canola crops and sparked […] Read more
U.S. grains: Weather concerns prompt short-covering in wheat
Chicago | Reuters –– Chicago Board of Trade wheat futures jumped 2.3 per cent on Thursday, posting their third gain in the last four sessions as some weather concerns provided the impetus for traders to cover short positions. The forecast for more rain, which could slow the tail end of seeding in parts of the […] Read more
CBOT weekly outlook: Soybeans to break below US$9 before summer half over
CNS Canada –– The Chicago Board of Trade (CBOT) soybean market showed some short-covering-related firmness during the week ended Wednesday, but the bias is still pointed lower for the oilseed. “We could actually see the beans trade down to the low $9, then to an $8 handle. Maybe $8.90 would be my initial target for […] Read more
U.S. grains: Wheat, soybeans sag after rally
Chicago | Reuters — U.S. wheat futures fell on Wednesday, shrugging off weakness in the dollar as investors locked in profits following two days of sharp gains, traders said. Soybean futures ended lower, too, pressured by commercial hedging after farmers booked sales on the cash market following a rally that pushed futures prices to their […] Read more
Sources say BASF mulling potential bid for Syngenta
Reuters — German chemicals group BASF is considering a potential offer for Syngenta, its Swiss rival which has received a C$56 billion takeover offer from Monsanto, people familiar with the matter said on Wednesday. BASF is speaking to investment bankers about the possibility of an offer for Syngenta, though it has made no decision and […] Read more
Expansion in U.S. ethanol on hold after blending targets slashed
Chicago | Reuters –– Expansion in the U.S. ethanol industry, stuck in neutral for more than a year as the government debated biofuel blending requirements, is now likely to come to a screeching halt. With the U.S. Environmental Protection Agency last week essentially maintaining the so-called blend wall that mandates nearly every gallon of gasoline […] Read more
Cutworm, flea beetle pressure piling on Prairie crops
CNS Canada — High levels of cutworms and flea beetles are damaging crops in Western Canada this spring, according to Manitoba’s crop entomologist. Manitoba growers started noticing damage from cutworms this week, said John Gavloski, extension entomologist for Manitoba Agriculture, Food and Rural Development in Carman. “They were there in the fields, but they were […] Read more
U.S. grains: Lower greenback sparks rally in wheat, corn, soy
Chicago | Reuters –– U.S. corn, soybean and wheat futures rallied on Tuesday, supported by a steep decline in the U.S. dollar that made all three commodities more attractive to investors looking for a hedge against inflation, traders said. Wheat notched the biggest gain, with the front-month Chicago Board of Trade (CBOT) contract surging 3.8 […] Read more
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