World food commodity prices rose in July to their highest in over two years, as a jump for vegetable oils and record levels for meat outweighed falling cereal, dairy and sugar prices, the United Nations' Food and Agriculture Organization said.
U.S. soybean futures climbed to a 1-1/2 month high on Wednesday, extending gains from the prior session after the U.S. Department of Agriculture forecast a much smaller autumn harvest than previously expected.
Chicago Mercantile Exchange live and feeder cattle futures hit contract highs for the second day in a row on Thursday as strong cash cattle prices and resilient consumer demand continued to fuel a rally, analysts said.
U.S. agrichemicals company Corteva raised its annual adjusted profit forecast on Wednesday, following strong performance in the first half of the year.
A Chinese state-run trading firm has booked a cargo of about 50,000 metric tons of new-crop Australian canola, two traders told Reuters, just days after Beijing imposed temporary levies on top supplier Canada.
Chicago soybean and corn futures chopped up and down on Wednesday as traders monitored results from a U.S. Midwest field tour that initially confirmed strong yield prospects, traders said.
The production potential of Ohio's corn crop is the highest in at least 22 years, scouts on the annual Pro Farmer tour of top U.S. producing states found on Monday, but dry conditions could limit yields by the time the autumn harvest rolls around.
U.S. soybean futures declined for the first time in four sessions on profit taking on Thursday after a rally ignited by the U.S. government's lower-than-expected harvest outlook took prices to six-week highs.
Miner and trader Glencore said on Wednesday that its long-term strategy could involve the sale of its 16.4 per cent stake in enlarged global agribusiness Bunge Global some time in the future.
Canada is focusing on a series of measures to support canola farmers hit by China's latest tariffs, Prime Minister Mark Carney said on Thursday, but did not give specific details.