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Crops, Markets

U.S. grains: Corn tops US$5 for first time since 2014

'Water deficit' in Argentina draws interest

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Chicago | Reuters — U.S. soybean and corn futures climbed to fresh 6-1/2 year highs on Wednesday, as worries about dry weather hurting Argentine crops attracted speculative buyers, analysts said. Wheat futures fell on a lack of fresh supportive news and an upturn in the dollar, which tends to make U.S. grains less competitive globally.
Livestock, Markets

U.S. livestock: Lean hogs trim as packers work through holiday backlogs

CME cattle futures pressured lower

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Chicago | Reuters — U.S. lean hog futures fell on Wednesday as packers work through backlogs caused by holiday shutdowns, analysts said. Daily hog slaughter regained from holiday pace, with 495,000 head processed compared to 472,000 head the week prior, according to U.S. Department of Agriculture data, but was still short of prior year pace.
Crops, Markets

U.S. grains: Soybeans rally as earlier slide leads to new buying

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Chicago | Reuters – Chicago soybean futures soared to new highs on Tuesday as traders shrugged off short-term pressure from promising labor negotiations in Argentina. Corn followed soybeans higher on export optimism, while wheat rose after two days of losses. Despite starting the day trending lower, the most-active soybean contract on the Chicago Board of
Crops, Markets

U.S. grains: Soybeans add new highs on Argentine supply disruptions

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Chicago | Reuters – Chicago soybeans climbed for a sixth consecutive day as a labor strike in Argentina stalls through the Christmas holiday, curbing global supply. Corn rose for a 10th consecutive session, supported by prolonged South American dryness that could hurt harvest prospects. Wheat slipped on holiday profit-taking, but held near two-month highs. The
Crops, Markets

U.S. grains: Soybeans gain as South American supply falters

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Chicago | Reuters – Chicago soybeans continued to rally on Wednesday as an Argentine labor strike slowed exports, even as rain moving into the country relieved some concern over drought. Wheat and corn followed soybeans, supported by Argentina’s export woes and concerns over prolonged dryness for developing South American crops. The most active soybean futures
Crops, Markets

U.S. grains: Soybeans end higher for direction amid Argentine supply woes

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Chicago | Reuters – U.S. soybean futures ended higher on Tuesday after trading both sides of even as the markets weighed South American rainfall against the ongoing labor strike disrupting Argentine exports, while traders took profits ahead of the U.S. holiday break. U.S. wheat futures also benefited from the cargo backups in Argentina, and corn
Crops, Markets

U.S. grains: Soybeans touch six-year high on Argentina strike, weather

Grains complex rebounds after stepping back on news of new coronavirus strain

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Chicago | Reuters — U.S. soybeans climbed to six-year highs on Monday as weather and export troubles in Argentina outweighed concerns of a new coronavirus strain hitting Britain. Corn and wheat futures traded near even as soybeans supported the grains complex. Chicago Board of Trade most-active soybeans gained 23-1/2 cents to $12.47-1/2 per bushel, after
Livestock, Markets

U.S. livestock: Live cattle futures step back on demand uncertainty

Lean hogs down with pork production up

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Chicago | Reuters — Live cattle futures fell on Friday as a third day of softer wholesale beef prices brought retailer demand into question, traders said. “Wholesale beef prices appear to have topped again and could head lower into the holidays, other than some late buying by retailers last minute,” said Doug Houghton, technical analyst
Holiday meals are on hold this year, driving down demand for large turkeys.
News

COVID-19 surge sliced U.S. demand for big Thanksgiving turkeys

Supply chains, often set months ahead of time, struggled to adjust ahead of the major U.S. holiday

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Reuters – All summer, Greg Gunthorp slaughtered and froze 15- to 24-pound turkeys on his northeastern Indiana farm for Thanksgiving sales to retailers, restaurants and families across the Midwest. But as surging COVID-19 cases prompted U.S. cities and states to urge Americans to stay home just weeks before the holiday, customers swapped out orders for whole birds for smaller turkey breasts. As
Livestock, Markets

U.S. livestock: Cattle futures step back on demand uncertainty

February lean hog futures lower

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Chicago | Reuters — Live cattle futures trimmed on Thursday as fears of additional pandemic closures weighed on the demand outlook, traders said. Chicago Mercantile Exchange February live cattle futures fell 1.35 cents to 112.575 cents/lb., the contract’s biggest decline in two weeks (all figures US$). CME January feeder cattle ended two cents lower at

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