Chicago | Reuters — Grain handler Lansing Trade Group LLC is buying Interstate Commodities, marking another step in consolidation that is rippling through the U.S. agriculture sector as persistently low prices keep pressure on profits. The combined companies could handle as much as seven per cent of the U.S. corn supply of over 15 billion […] Read more
U.S. grain handler Lansing buys Interstate
CBOT weekly outlook: Weather watching trade in summertime
CNS Canada –– Corn and soybean futures at the Chicago Board of Trade are hanging in a seasonal weather-based market, with traders watching crop conditions week-to-week. Corn futures have downside potential, gathering influence from wheat futures and crop ratings in the near term. “I’m looking for an improvement in crop ratings next week, which might […] Read more
Dow’s Enlist corn cleared for Canada
Corn growers in Canada can begin ordering Dow AgroSciences’ genetically modified Enlist corn later this summer, now that China will allow imports of grain grown from corn with the Enlist trait. Dow Agro announced Wednesday the glyphosate- and 2,4-D-tolerant corn will be commercially available in Canada and the U.S. for use in the 2018 growing […] Read more
China approves two new GMO varieties for import, renews 14
Beijing | Reuters — China approved two new varieties of genetically modified (GMO) crops for import from Monday, after the world’s top buyer of GMO soybeans pledged to speed up a review of biotech products as part of a recent trade deal with the U.S. The approvals of new GMO imports follow an agreement on […] Read more
CBOT weekly outlook: Corn, soy up ahead of USDA data
CNS Canada — Corn and soybeans at the Chicago Board of Trade advanced ahead of a key report due out at the end of the week — but from there, it’s back to weather-watching, one analyst says. The U.S. Department of Agriculture is set to release its supply and demand estimates on Friday. “There are […] Read more
Lower U.S. corn acres raise optimism for Manitoba growers
CNS Canada — A wet spring in the U.S. has forced many farmers to switch out corn acres in favour of alternative crops — a practice that could potentially raise prices for Manitoba farmers, an industry watcher said. “It’s encouraging on the price outlook to see they (U.S. farmers) put less acres in,” said Myron […] Read more
CBOT weekly outlook: Soybeans in danger of dropping below US$9
CNS Canada –– The Chicago Board of Trade soybean market is increasingly being weighed down as rain-stricken farmers switch out acres intended for corn into oilseeds. The July contract plunged 32.25 cents per bushel during the week ended Wednesday (all figures US$). “You can see the corn has already gained on beans a dime this […] Read more
Conagra to sell Wesson oil brand to Smucker
Reuters — Packaged food maker Conagra Brands said on Tuesday it would sell its Wesson cooking oil brand to Folgers coffee maker J.M. Smucker Co. for about US$285 million. Conagra will continue to manufacture products sold under the Wesson brand for up to one year following the close, after which Wesson will be merged into […] Read more
Greig: Late spring planting means more soybeans in Ontario
Ontario farmers are stopped across most of the province as consistently wet weather holds up planting and pushes farmers to plant more soybeans instead of corn. Significantly higher than normal rain in southern Ontario and record rainfall between Toronto and Ottawa mean that near the end of May, corn planting isn’t complete and there remains […] Read more
CBOT weekly outlook: Corn, soy rangebound
CNS Canada –– Corn and soybean futures at the Chicago Board of Trade are expected to hold near-term ranges, as traders decide where to lay their focus amid a mix of factors. “Weather will dominate; that’s no surprise to anybody,” said Sean Lusk of Walsh Trading. That influence is likely to have a supportive effect […] Read more
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