Chicago | Reuters — A traffic jam on the lower Mississippi River swelled to 771 barges on Thursday as a fractured bridge near Memphis closed the waterway that is crucial for U.S. crop exports. The shutdown fueled concerns about shipping U.S. grain and soy to export markets at a time when global inventories are slim […] Read more
U.S. barge backup worsens as Mississippi River shut near Memphis
Don’t count chickens before they hatch: Tyson bet on wrong rooster
Meat giant books unexpected decline in hatching
Chicago | Reuters — Tyson Foods is laying off a certain type of rooster from its U.S. chicken business after a surprising discovery that eggs fertilized by the male bird hatch less often, resulting in fewer chickens. The world’s largest meat producer by sales will install a replacement across its breeding program by this fall […] Read more
U.S. grains: Corn, soy futures hit multi-year highs on supply fears
Dryness in Brazil fuels supply fears
Chicago | Reuters — Concerns that global crop supplies will remain lean pushed Chicago Board of Trade corn futures to their highest price since March 2013 on Friday, while soybean futures reached their highest since October 2012. The markets surged before the weekend as traders braced for the potential of further rallies driven by tightening […] Read more
U.S. livestock: CME cattle futures up on beef prices, demand
June hogs down off recent rallies
Chicago | Reuters — Chicago Mercantile Exchange cattle futures rose on Friday on strong beef prices and demand for red meat that also catapulted margins for beef processors. Meat demand is high as federal stimulus checks have increased incomes and prompted consumers to spend more at supermarkets and restaurants, analysts said. COVID-19 vaccinations are also […] Read more
U.S. grains: Corn futures pierce eight-year peak
Soy rallies on supply worries
Chicago | Reuters — Chicago Board of Trade corn futures extended a rally above eight-year highs on Thursday as dry weather threatened harvest yields in major exporter Brazil and kept traders’ focus on ebbing global supplies. Soybeans approached an 8-1/2-year peak reached last week, buoyed by rallying vegetable oil prices, and wheat was also higher. […] Read more
U.S. livestock: Cattle, hog futures rise with wholesale meat prices
Easing restrictions prompt more dining out
Chicago | Reuters — Chicago Mercantile Exchange lean hog and live cattle futures climbed on Thursday as U.S. wholesale prices increased. Pork and beef are in high demand in supermarkets and restaurants as the distribution of federal stimulus checks has prompted consumers to spend more on food, analysts said. COVID-19 vaccinations and easing restrictions on […] Read more
U.S. grains: Corn exceeds eight-year high on global supply worries
Soybean, wheat futures also finish higher
Chicago | Reuters — Chicago Board of Trade corn futures touched their highest price in more than eight years on Wednesday as concerns over global supplies and strong demand continued to fuel strong gains. A blistering rally in the market has raised costs for global producers of corn-based ethanol and of meat made from livestock […] Read more
U.S. livestock: Hogs rally again on pork prices, supply woes
June live cattle rise to even with June hogs
Chicago | Reuters — Chicago Mercantile Exchange lean hog futures extended a sharp rally on Wednesday, touching contract highs for the fourth consecutive day on limited supplies and strong pork prices. U.S. pork demand is strong as sales have benefited after households received additional COVID-19 pandemic relief money from the federal government, analysts said. The […] Read more
U.S. grains: Corn tops $7 for first time since 2013 in most-active contract
High corn prices are not destroying demand, Bunge CEO says
Chicago | Reuters — U.S. corn futures on Tuesday topped US$7 a bushel in the most-active contract for the first time since 2013 as unfavourably dry crop weather in Brazil kept attention on tightening global supplies. Surging prices have done little to curb robust demand for corn used to feed livestock and produce ethanol, opening […] Read more
U.S. livestock: Hog futures extend rally on cash prices, tight supply
Cash cattle, beef values see 'significant disconnect'
Chicago | Reuters — Chicago Mercantile Exchange lean hog futures hit contract highs for the third consecutive day on Tuesday as a strong cash market and tight supplies pushed up prices. Solid demand for pork has helped boost the market, with meat processors paying up to buy hogs from producers, analysts said. The U.S. Department […] Read more
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