Chicago | Reuters — U.S. soybean and corn futures closed lower Thursday on improving South American crop prospects and jitters about U.S. trade relationships, analysts said. Wheat futures rose on better-than-expected weekly U.S. export sales. Chicago Board of Trade soybeans for March delivery settled down 5-3/4 cents at $10.49-1/2 per bushel and March corn ended […] Read more
U.S. grains: Soy, corn fall on crop prospects, trade fears
Key European body backs EU-Canada trade deal
Brussels | Reuters — A planned EU-Canada free-trade deal moved closer to reality on Tuesday after a key committee advised the European Parliament to give its backing after months of protests and heated debate. The EU-Canada Comprehensive Economic and Trade Agreement (CETA) is seen as a test of Europe’s ability to forge future trade accords […] Read more
Struggling U.S. farm sector faces new threat as TPP dies
Chicago | Reuters — U.S. President Donald Trump’s decision to back out of the Trans-Pacific Partnership (TPP) trade deal, a US$62 billion market for U.S. farmers, provides a fresh threat to a slumping agricultural economy that has grown increasingly dependent on exports. Agricultural groups expressed disappointment over the move and urged the new administration to […] Read more
Canada not seen as U.S. target in NAFTA talks
Calgary | Reuters — Canada has a “very special status” and is unlikely to be hit hard by changes the U.S. wants to make to the NAFTA trade accord, the head of a business advisory council to U.S. President Donald Trump said on Monday. Stephen Schwarzman made his remarks after addressing Canadian Prime Minister Justin […] Read more
Australia, New Zealand pledge to salvage TPP
Reuters — Australia hopes to salvage the Trans-Pacific Partnership (TPP) by encouraging China and other Asian nations into the agreement in the wake of U.S. President Donald Trump’s decision to pull his country out of the pact, its trade minister said on Tuesday. New Zealand’s trade minister said ministers from the remaining TPP countries would […] Read more
Activist investor activity reignites rail merger hopes
Reuters — Shares of railway operator CSX Corp. soared 20 per cent on Thursday after an activist investor’s plan to shake up the U.S. rail operator fueled speculation that the company was once again a takeover target. Investors rushed to bid up shares of CSX after news reports that former Pershing Square partner Paul Hilal […] Read more
Exporters, fearing border tax, scramble to shift production
Ottawa | Reuters — Canadian exporters are scrambling to find ways to avoid a potential 10 per cent import tax promised by U.S. President-elect Donald Trump, including the possible shifting of production or supply lines south of the border. Amid warnings from the Bank of Canada on Wednesday that protectionist policies brought in by Trump […] Read more
Trump to name ex-Georgia governor as ag secretary
Washington | Reuters — U.S. President-elect Donald Trump will name former Georgia Governor Sonny Perdue as his nominee for secretary of agriculture on Thursday, a senior transition official saidn Wednesday. Perdue, 70, served on Trump’s agricultural advisory committee during his presidential campaign. His nomination, which must be confirmed by the Republican-led Senate, will complete Trump’s […] Read more
U.S. grains: Soy up for fourth session on Argentina crop concerns
Chicago | Reuters –– U.S. soybean futures rose on Wednesday for a fourth straight session, notching a six-month high on worries that recent heavy rains could damage crops in Argentina. Wheat and corn closed lower on a round of profit-taking after multi-month highs. Chicago Board of Trade March soybeans settled up 5-3/4 cents at $10.75 […] Read more
ICE weekly outlook: Weather trumps Trump on canola
CNS Canada — ICE Futures Canada canola contracts posted substantial gains during the week ended Wednesday, taking strength from a rally in the soy complex. Both front-end contracts rose $17 on the week, with the March contract jumping from $498 at its Jan. 11 close to settle at $515 a week later. Weather concerns in […] Read more
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