Brasilia | Reuters — President Michel Temer will propose legislation to lift restrictions on foreign ownership of airlines and agricultural land in Brazil as he strives to pull the economy out of a two-year recession, government sources said on Monday. Temer’s centre-right government plans to send Congress a bill allowing 100 per cent foreign ownership […] Read more
Brazil to open farmland, airlines to foreign buyers
CBOT weekly outlook: Soy, corn can’t keep their distance from Argentina
CNS Canada — Soybean futures at the Chicago Board of Trade posted sharp gains over the past week, as weather concerns in Argentina and a bullish U.S. Department of Agriculture report sparked a rally. South American weather also underpinned the corn market — and both commodities will be following the forecasts out of the region […] Read more
ICE weekly outlook: Canola chops around waiting for New Year
CNS Canada –– ICE Futures Canada canola contracts chopped around major support during the week ended Wednesday, as steady demand was countered by large supplies of oilseeds. Most traders rolled out of the January contract and into March, a move evidenced by the massive volumes on Monday and Tuesday. “People holding contracts may get nervous; […] Read more
U.S. grains: Soy firms on technicals
Chicago | Reuters — U.S. soybean futures rose on Thursday, turning higher after testing key technical support levels, traders said. Corn and wheat futures weakened on a mild round of profit-taking. Wheat, which also was pressured by a firm U.S. dollar, had risen for the previous five days while corn was coming off a four […] Read more
CBOT weekly outlook: Technicals trump recent support in soy
CNS Canada — Soybean futures at the Chicago Board of Trade look technically bearish, one U.S. analyst says, but spec-longs may keep support in the market. Corn futures, meanwhile, are expected to continue in a rangebound trend. “Corn is still basically in a trading range; it doesn’t excite people. Beans, they’re all over the place,” […] Read more
JBS scraps reorganization after Brazil veto
Sao Paulo | Reuters — JBS SA has scrapped a program to move some operations outside Brazil after a government agency vetoed the move, sending shares of the world’s biggest beef exporter tumbling and dealing a blow to a plan to become a global food processing powerhouse. In a Wednesday securities filing, Sao Paulo-based JBS […] Read more
JBS CEO ordered to step aside in Brazil pension fund probe
Brasilia | Reuters — Brazilian police launched an investigation of fraud at state-run companies’ pension funds on Monday, as a judge ordered dozens of senior financiers and executives away from their firms, including the CEO of the world’s biggest beef exporter. Police carried out five arrests, more than two dozen interrogations and over 100 search […] Read more
CBOT weekly outlook: Yield prospects key for soybeans, corn
CNS Canada — Corn and soybean futures at the Chicago Board of Trade recorded losses during the week ended Wednesday, as expectations of massive crops and high yields edge closer to becoming a reality. “Since weather isn’t a major issue anymore, (traders) will be watching for potential record crop production sizes in the U.S.,” said […] Read more
U.S. opens up to Brazil fresh beef imports
Brasilia | Reuters –– The U.S. and Brazilian governments exchanged food safety equivalence documents on Monday that will open up their respective markets to fresh beef exports, a window expected to boost Brazil’s exports to the U.S. by US$900 million. The U.S. Department of Agriculture said its Food Safety and Inspection Service had determined that […] Read more
Monsanto, Microsoft to invest in ag technology in Brazil
Sao Paulo | Reuters — U.S. biotech company Monsanto and U.S. software and tech firm Microsoft announced on Monday a partnership to invest in agricultural technology startups in Brazil. Monsanto will join a Brazilian investment fund with up to 300 million reais (C$118 million), managed by Microsoft, evaluating ideas for new digital tools to be […] Read more
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