GFM Network News

Short covering surge could boost U.S. wheat

The U.S. Department of Agriculture just upwardly revised U.S. wheat production prospects on the back of better-than-expected yield reports emerging from the ongoing U.S. harvest. But even as harvest progress continues to weigh on near-term market sentiment, wheat prices are at risk of pushing higher as global demand prospects pick up and jittery short-biased speculative […] Read more

Time to beef up on hogs versus cattle?

Reading Time: 3 minutes The lean hog market is approaching a well-defined seasonal bottom that usually occurs during the opening half of April, and a number of traders are gearing up to go long that commodity over the coming weeks. They hope to be in position ahead of any upturn in values fuelled by a drop in fresh meat […] Read more

After a bumper harvest in 2012, India poised to be a new wheat-export powerhouse

Surplus Government reserves now have reached 31 million tonnes, second only to China and three times the official target levels

Reading Time: 2 minutes Reuters / While most other major wheat growers around the world suffered from production setbacks in 2012 due to drought, India’s farmers had a banner year which has resulted in a glut of wheat supplies at state-run warehouses and export facilities. India’s state reserves of wheat have reached 31 million tonnes the highest level in […] Read more

U.S. meat producers may pare back output

U.S. meat Shipments hit a record in 2011 and look to be on course to better that total for 2012

Reading Time: 2 minutes Reuters/Despite nearly record-high feed prices, U.S. meat production has continued to trend higher in recent months, and the latest monthly statistics show that beef, pork and chicken output all remain above the five-year average. Brisk meat exports combined with strong domestic wholesale and retail prices have encouraged these high production levels, but a seasonal downturn […] Read more

Higher U.S. wheat plantings likely — and needed

STAGE SET Production problems haven’t left markets short yet but that could change if Australian growers continue to suffer from a lack of rainfall

Reading Time: 3 minutes Stubbornly high prices have served to keep U.S. wheat out of contention on the export market in recent months, but a broad jump in winter wheat acreage coupled with growing overseas demand could change that picture. It’s no surprise that farmers in top hard red wheat states such as Kansas are upping their acres this […] Read more

Chinese buying could push soybeans over $20

The July-September quarter is traditionally a soft period for U.S. soybean exports as the world’s top buyers of the oilseed typically divert their buying interest to South American suppliers while the U.S. crop rounds out the growing season. But the shortage of supplies in Brazil and Argentina following this year’s drought in that region has […] Read more

Agribusiness Outlook Tied To Crop Prices

Reading Time: 2 minutes You know commodity trading conditions are tough when even firms that sit on both the buy and sell sides of a market still suffer hefty losses. Such was the case with 140-year-old agribusiness giant Cargill, which recently reported a 66-percent drop in earnings in the latest quarter over year-ago levels due to global economic uncertainty […] Read more

Bacon — Evolving From Daily Staple To Luxury Treat?

Reading Time: 3 minutes The recent royal wedding celebrations at London’s Buckingham Palace featured bacon sandwiches on the menu for the morning after the night before. The fact that bacon featured so prominently alongside other delicacies in such revered surroundings is quite fitting given that bacon prices are closing in on all-time highs and look set to continue pressing […] Read more