Chicago | Reuters — Chicago Board of Trade corn, soybean and wheat futures fell on Tuesday, pressured by a round of profit-taking and technical sales, traders said. Soybeans set back from a 15-month high hit during the overnight session while corn and wheat faced resistance after failing to take out last week’s peaks, sparking a […] Read more
U.S. grains: Profit-taking sparks sell-off
Global GMO area dips in 2015 in first-ever decline
Reuters — The world scaled back biotech crop planting for the first time ever in 2015, led by a decline in the U.S., which has fuelled rapid expansion of genetically modified crops since their commercial launch two decades ago, according to an annual report released Wednesday. The decline was blamed largely on lower crop plantings […] Read more
Argentina declares flood emergency in six key farm provinces
Buenos Aires | Reuters — Six of Argentina’s main farm provinces were declared flood emergency areas by the government on Friday, making special credit lines and tax breaks available to affected growers in the soy- and corn-exporting powerhouse. The resolution, announced in the government’s morning gazette, covers the provinces of Cordoba, Santa Fe, Entre Rios, […] Read more
U.S. grains: Soybeans set new 2016 low as rains hit dry Argentina
Chicago | Reuters — U.S. soybean futures slid to seven-week lows on Monday after weekend rains across major exporter Argentina reduced the likelihood that dry weather would curb yields. Wheat futures dropped to a one-month low and corn dropped to its lowest level in three weeks as losses in other markets, including equities and energy, […] Read more
Argentine government to allow beef imports
Buenos Aires | Reuters –– Argentina will allow beef imports if the recent opening of the export market results in a domestic shortage of steaks and burgers, farm minister Ricardo Buryaile told local radio Thursday. The country lifted restrictions on beef exports after President Mauricio Macri, elected in November on an open-markets platform, was inaugurated […] Read more
Argentine corn sowing booms on optimism over new government
Buenos Aires | Reuters — A late-season corn planting flurry in No. 4 world exporter Argentina could push output to the same level as the previous crop year, thanks to the policies of the new government, the director of the local maize industry chamber said Friday. Growers across the Pampas farm belt applauded the November […] Read more
Cargill’s Q2 profit drops amid commodities slump
Chicago | Reuters –– Slumping commodities prices and weak demand in some markets took their toll on profits for global commodities trader Cargill in the quarter ending Nov. 30, sending earnings and revenue down 13 per cent and 10 per cent, respectively. Privately held Cargill, celebrating its 150th birthday this year, is in the midst […] Read more
Argentine soy sales after tax cut disappoint government
Buenos Aires | Reuters — Argentina’s centre-right government said Monday it was disappointed by the volume of soy stocks sold by farmers in the three weeks since it reduced the tax on soybean exports. President Mauricio Macri cut the tax on shipments of soybeans, the country’s main cash crop, from 35 per cent to 30 […] Read more
U.S. grains: Rain in Brazil’s forecasts dampens soy futures
Chicago | Reuters — U.S. soybean futures touched a one-week low on Thursday as expectations for beneficial rains in top exporter Brazil overshadowed stronger-than-expected U.S. export sales. Concerns about large U.S. supplies and poor export demand pushed March corn to settle at a new contract low, while wheat futures reached a three-week low. Traders kept […] Read more
Devalued Argentine peso seen spurring grain exports
Buenos Aires | Reuters — The currency devaluation set to kick off in Argentina on Thursday is expected to pump millions of tonnes of pent-up grains supply into the international market at a time when the world is already seeing record stockpiles. For the first time since 2011, Argentines have full access to U.S. dollars […] Read more
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