Chicago Mercantile Exchange cattle futures rose for a third-straight session Wednesday on strong cash cattle prices, as feeder cattle followed, analysts said.
Some adjustments to Argentine soybeans were made by the United States Department of Agriculture attaché in Buenos Aires. While the USDA and its attaché agreed Argentina's soybean harvest for the 2024/25 marketing year is to be 49 million tonnes, the two differed on other categories. The report was issued during the week of March 10.
The International Grains Council on Thursday raised its forecast for global wheat production in the 2025/26 season, largely reflecting improved crop outlooks in India and Romania.
Canola oilseed prices in Australia and Europe have risen by around 20 per cent since the start of March due to tight supply and a rally in vegetable oil markets, with further gains expected as buyers remain reluctant to switch to cheaper soybeans.
The U.S. Department of Agriculture lowered its U.S. corn supply forecast in a monthly supply-and-demand report on Friday and raised its outlook for U.S. exports of the grain this season to a record high following a strong pace of overseas shipments.
Brazil is ready to declare the country free of the bird flu virus on commercial flocks, Edivilson Brum, the head of Rio Grande do Sul state’s agriculture department, said on Wednesday in a statement.
Chicago Mercantile Exchange live cattle futures firmed for a second straight day on Wednesday as rising beef prices and strong packer demand ahead of the Memorial Day holiday weekend supported the market, analysts said.
Brazil's JBS, the world's largest meatpacker, sees "very strong" demand for beef, pork and chicken in the U.S., said the president of JBS USA, Wesley Batista Filho on Thursday during the firm's third quarter earnings call.