Sao Paulo | Reuters — McCain Foods, the world’s largest producer of frozen fries, has agreed to buy 70 per cent of Brazilian firm Serya for an undisclosed amount, in a deal that will allow the Canadian company to expand its footprint in Latin America’s largest market. The remaining shares of Serya are held by […] Read more
McCain Foods buys stake in Brazilian potato processor Serya
U.S. grains: Corn firms as rains stall planting
Chicago | Reuters — U.S. corn futures firmed on Monday, hitting the highest point in a week as wet weather across much of the U.S. Midwest and forecasts for continued rains this week threatened to prolong spring planting delays. Soybeans were lower on sluggish U.S. exports, abundant global supplies and worries that delayed corn seeding […] Read more
Brazil urges China to improve GMO approvals
Brasilia | Reuters –– Brazil Foreign Minister Ernesto Araujo said on Thursday that the country must work with China to reduce non-tariff barriers to agriculture trade, including improving the process for genetically modified goods. Brazil is the world’s largest exporter of soybeans, the vast majority of which are genetically modified organisms (GMO). Many newer GMOs, […] Read more
CBOT weekly outlook: Bear market aches for bull news
MarketsFarm –– The Chicago Board of Trade (CBOT) is currently a bear-market, according to broker Scott Capinegro of Barrington Commodity Brokers. “It’s like the markets are saying ‘Show me something, we’ll take anything,’ but the bears are winning,” he said, noting there has been almost no news to drive the market in a bullish manner. […] Read more
U.S. grains: Corn, wheat firm in late rally, end week lower
Chicago | Reuters — U.S. corn and wheat futures edged higher on Friday, lifted by a late round of short-covering and worries about planting delays following a blizzard this week, traders said. Soybean futures closed flat in dull trade. Chicago Board of Trade May corn settled up one cent at $3.61 per bushel, staying inside […] Read more
Midwest floods hammer U.S. ethanol industry
New York | Reuters — The March floods that punished the U.S. Midwest have roiled the ethanol industry, hammering prices and trapping barrels in the country’s interior while the U.S. coasts suffer from shortages of the biofuel. The historic March floods have dealt a series of blows to large swaths of an ethanol industry that […] Read more
JBS predicts profits will be stronger this year
Sao Paulo | Reuters — JBS SA executives said Friday the Brazilian meat company will deliver higher earnings in 2019 on strong demand for beef in the U.S. and Australia as well as growing Chinese demand for various proteins. Still, first-quarter results will reflect lower cattle availability in the U.S. due to rains and a […] Read more
U.S. grains: Soybeans sink on hefty supplies, trade worries
Chicago | Reuters — U.S. soybean futures dropped to a four-month low on Wednesday on concern about the slow pace of U.S.-China trade talks, due to resume this week in Beijing, as harvesting of a bumper South American soy crop accelerates. Soybeans were further pressured by positioning ahead of U.S. Department of Agriculture (USDA) acreage […] Read more
U.S. grains: Wheat posts steepest weekly decline in half a year
Chicago | Reuters — U.S. wheat prices fell on Friday and posted their steepest weekly decline since late August as technical selling and competitive global supplies pressured prices. Soybean and corn prices rose, rebounding from earlier losses, but gains were capped on concerns surrounding strong export competition. The most-active wheat contract on the Chicago Board […] Read more
Brazil health officials find glyphosate non-cancerous
Brasilia | Reuters — Analysts at Brazilian health agency Anvisa have determined that glyphosate herbicide does not cause cancer while recommending exposure limits as international pressure to reduce use of the chemical grows. Companies such as Bayer and its unit Monsanto, which produces glyphosate-based weedkillers, have faced legal challenges over allegations that glyphosate causes cancer. […] Read more
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