GFM Network News


Bunge raises outlook as agribusiness profits beat Wall Street estimates

Reuters – Agricultural commodities trader Bunge Ltd on Wednesday raised its full-year outlook after its second-quarter profit handily beat Wall Street estimates, sending shares up more than 5 percent in premarket trading. Despite a worsening coronavirus pandemic that has rattled global markets, strong soy processing margins in South America, Europe and Asia and accelerated crop

U.S. livestock: Live cattle futures retreat on supply concerns

Chicago | Reuters – U.S. live cattle futures opened firm on Monday but retreated from session highs on technical selling and lingering concerns about cattle supply backups in the wake of recent packing plant closures due to coronavirus infections among workers. Prices climbed at Monday’s open in reaction to Friday’s U.S. Department of Agriculture (USDA) cattle on


U.S. grains: Soybeans firm on more sales to China

Chicago | Reuters – U.S. soybean futures edged higher on Monday as strong export sales, most notably to China, offset pressure from good crop weather that reinforced expectations for a sizable U.S. harvest this autumn. Corn futures eased as mild temperatures and timely rains across the Midwest farm belt were seen boosting prospects for the

Bayer launches carbon capture pilot for U.S., Brazilian farmers

Chem and seed firm expects to expand plan to other countries

Chicago | Reuters — Bayer launched a pilot program in the United States and Brazil on Tuesday that will pay farmers for capturing carbon in cropland soils, making it the latest agriculture company to capitalize on environmental initiatives. The company seeks to enroll about 1,200 row crop growers in its Bayer Carbon Initiative in the

Exporters say China soy buyers want guarantee of coronavirus-free cargoes

Observers say that after three weeks at sea, arrival port workers are the likelier source of contamination

China’s soybean buyers are asking exporters to sign a letter guaranteeing their cargoes are not contaminated with the novel coronavirus, U.S., Brazilian and Canadian soy industry officials said June 23. China is trying to prevent any risk of new COVID-19 infections from imported goods as it takes aggressive measures to contain a recent spike in


Pumpjacks sit idle near Williston, N.D.

North Dakota: What rebound?

REGION | Our next-door neighbour is in an economic crunch as COVID-19 batters oil, agriculture

Reuters — When the novel coronavirus first appeared in the United States, North Dakota was in the envious position of having more money in its state coffers than it had budgeted. Now, it is making sweeping cuts to state agencies in a bid to stem the financial bleeding from a historic oil price collapse sparked by the coronavirus pandemic, and a

Food exporters sign safety declarations in lieu of virus-free guarantees

Reuters — U.S. food and feed exporters are shipping goods to China with letters assuring the safety of their cargo in lieu of official declarations requested by Chinese authorities that guarantee coronavirus-free shipments, a U.S. agricultural export group said on Friday. The commitment statements, drafted by the Agriculture Transportation Coalition (AgTC), are meant only to

U.S. livestock: Hogs tumble on bigger-than-expected supply, economic concerns

Rising COVID-19 counts raise fears for beef demand

Chicago | Reuters — U.S. lean hog futures plunged by as much as the daily trading limit on Friday and ended sharply lower after the U.S. Department of Agriculture (USDA) estimated supplies above already-high trade expectations. Economic concerns amid rising novel coronavirus infections added pressure to hogs and also dragged down cattle futures, which finished


U.S. grains: Corn, soybeans sink on Midwest weather

Wheat plunges on technical selling, harvest pressure

Chicago | Reuters — U.S. corn and soybean futures fell for a fifth straight session on Friday on crop boosting rains across the Midwest and positioning ahead of government reports on U.S. plantings and stocks due next week. Wheat futures tumbled to contract lows, with soft red winter wheat hitting its lowest in nearly 10