Chicago Board of Trade front and back-month corn futures notched lifetime lows on Wednesday on expectations of a hefty Brazilian corn crop and a lack of weather threats for the large U.S. corn crop that has recently been seeded, traders said.
The Great Plains have long been celebrated for the “amber waves of grain” in the popular hymn “America the Beautiful.” The region’s states produce most of the U.S.-grown crop of hard red winter wheat, favored by bakers for bread. But with prices hovering around $5 (C$6.86) per bushel, U.S. wheat farmers have reached an inflection point, with many forced to either lose money, feed wheat to cattle or kill off the crop.
China's market regulator has granted conditional approval for global agribusiness Bunge Global's merger with Glencore-backed grain handler Viterra, it said on Monday, clearing the final hurdle for the $34 billion mega-deal announced two years ago.
The onset of India’s annual southwest monsoon is expected over the next four-to-five days, which would make for the earliest start of the rainy season since 2009 and sets the stage for good crop production going forward.
With the United States weather forecast calling for rain on April 18 and 21, planting progress could come to a quick stop, said broker Scott Capinegro of AgMarket.net in Chicago.
Canadian Prime Minister Mark Carney said on Thursday that he would respond with unspecified trade actions if U.S. President Donald Trump imposes new auto tariffs.
U.S. and Canadian biofuel companies are throttling back production to limit losses amid uncertainty over U.S. President Donald Trump's approach to green fuel subsidies and the potential for a worsening trade war.
As the deadline for the government of India to further extend its tariff-free period for pea imports expired on Feb. 28, there has yet to be any statement regarding levies on the country's future pea imports.