GFM Network News


CBOT May 2021 wheat with 20-, 50- and 100-day moving averages. (Barchart)

U.S. grains: Wheat hits three-month low on supply prospects

CBOT soybeans, corn also decline

Chicago | Reuters — U.S. wheat futures fell to their lowest level of 2021 on Thursday, pressured by improving global production prospects and a firmer dollar, which tends to make U.S. grains less competitive globally, analysts said. Corn and soybean futures also eased, following broad declines in commodities along with position-squaring ahead of key U.S. […] Read more

CBOT May 2021 corn (candlesticks) with Bollinger bands (20,2) and May 2021 WTI crude (black line). (Barchart)

U.S. grains: Corn, soy slump in broad-based commodities selloff

Weekly corn export sales top estimates, China buys more

Chicago | Reuters — U.S. corn and soybean futures fell on Thursday as a firm U.S. dollar and tumbling energy prices, with crude oil down more than eight per cent, stoked broad selling across commodities markets. The steepest corn and soy declines in more than a week marked a further pullback from recent highs as […] Read more


CME June 2021 live cattle with Bollinger (20,2) bands. (Barchart)

U.S. livestock: Cattle, hogs follow broader commodities markets lower

"We were a little top heavy coming in"

Chicago | Reuters — Chicago Mercantile Exchange cattle and hog futures posted steep losses in most contracts on Thursday as a broad-based commodities market selloff, led by sinking crude oil and a firmer U.S. dollar, weighed on prices. Fundamental factors for both cattle and hogs remained solid amid strong beef and pork exports and good […] Read more

Louis Dreyfus’ oilseed processing plant at Yorkton, Sask. (LDC.com)

Louis Dreyfus to gain first outside investor

Abu Dhabi's ADQ fund to acquire indirect 45 per cent stake

Paris | Reuters — Louis Dreyfus Co. (LDC) has agreed to sell a 45 per cent stake to Abu Dhabi’s ADQ, the companies said on Wednesday, the first outside investment in the family-owned commodity merchant’s 169-year-old history. The deal comes after a search by chairwoman Margarita Louis-Dreyfus for an investor to relieve debt built up […] Read more


CBOT December 2020 wheat with Bollinger (20,2) bands. (Barchart)

U.S. grains: Wheat, soy, corn fall sharply on fund selling

'It is basically risk-off across the board'

Chicago | Reuters — Chicago Board of Trade soybean, corn and wheat futures plunged on Monday as concerns about fresh coronavirus-driven lockdowns due to rising global case counts sparked a wave of risk-off trades. The grains, led by a 3.7 per cent drop in wheat that marked its biggest daily percentage decline since August 2019, […] Read more

File photo of rye at a grain market in India. (Deepak Sethi/E+/Getty Images)

Indian cabinet minister quits over farm legislation

New Delhi | Reuters — India’s minister for food processing resigned on Thursday over her opposition to planned laws to allow farmers to sell produce directly to bulk buyers and make contract farming easier, saying the legislation will hurt millions of the country’s farmers. “Proud to stand with farmers as their daughter and sister,” Harsimrat […] Read more



File photo outside Viterra’s downtown Regina office building. (Dave Bedard photo)

‘Glencore Agriculture’ to adopt Viterra brand

Worldwide ag business to rebrand later this year

A trademark that Swiss commodity firm Glencore picked up when it bought its way into Prairie agriculture is about to become the global brand for its agribusiness offspring. David Mattiske, CEO of Glencore Agriculture, announced in a statement Wednesday the company will rebrand the business to Viterra in “late 2020.” The Viterra brand dates back […] Read more


A container terminal in Halifax. (CN.ca)

CN sees eastern network revival on supply chain diversity, ports

Montreal | Reuters — Canadian National Railway, the country’s biggest railroad, is banking on growth in consumer products and supply-chain diversification in Asia, to revive traffic on its underutilized eastern Canadian rail lines, the company’s CEO told Reuters Friday. Coronavirus, which hit China’s industrial production, along with U.S. tariffs on Chinese goods, are further leading […] Read more

File photo of pre-COVID-19 rush-hour traffic on the interchange between the Interstate 10 and 110 freeways near downtown Los Angeles. (Art Wager/E+/Getty Images)

CBOT weekly outlook: Ag commodities steady

Slack demand for biofuel has dragged on corn

MarketsFarm — Crop commodity values on the Chicago Board of Trade (CBOT) have largely stabilized as COVID-19 restrictions are relaxed in several U.S. states. “We’ve been playing this virus for a few months now,” said Scott Capinegro of Barrington Commodities in Barrington, Ill. COVID-19-related lockdown measures decimated demand for ethanol, which put considerable pressure on […] Read more