China can reduce its soybean demand by 30 million tonnes by continuing to promote lower soymeal rations in feed and using alternative proteins, the official Xinhua news agency said in February, citing unnamed agriculture officials. China issued guidelines last year recommending the reduction of soymeal and corn in pig and poultry feed, as it sought
China could cut soybean demand by 30 million tonnes
EU predicts pain for farmers, consumers from Ukraine crisis
Brussels | Reuters — Russia’s invasion of Ukraine and EU sanctions on Moscow will prove painful for farmers, consumers, fertilizer makers and exporters of farm products, the European Commission warned on Monday. Michael Scannell, deputy director-general of the Commission’s agriculture division, said grain buyers should brace for higher prices given that Russia and Ukraine made
Loblaw beats estimates for quarterly revenue
Reuters — Canadian retailer Loblaw Cos. beat market estimates for quarterly revenue on Thursday, as demand for groceries and other essential items stayed strong. The pandemic-led trend of cooking at home has sustained even as COVID curbs have eased, continuing to help sales at grocery stores that benefited during last year’s lockdowns. Companies such as
Vilsack hopes fertilizer firms don’t take advantage of Ukraine crisis
Washington | Reuters — U.S. Agriculture Secretary Tom Vilsack said Thursday he hoped fertilizer and agriculture supply companies affected by the Russian invasion of Ukraine would not take unfair advantage of the situation, amid already-high fertilizer and crop prices. Fertilizer costs have soared due to rising demand and lower supply as record natural gas and
CNH sees revenues rising to 2024 on precision agriculture plans
Margin at agricultural unit seen at 14.5 to 15.5 per cent
Milan | Reuters — Italian-American vehicle maker CNH Industrial on Tuesday gave guidance for a total revenue growth of up to 24 per cent through 2024 as it presented a new business plan after spinning off its truck, bus and engine units. In a bid to focus on its higher-margin agriculture and construction machine businesses,
U.S. livestock: Hog futures extend rally to six days
April live cattle down on day
Chicago | Reuters — Chicago Mercantile Exchange hog futures rose for the sixth straight session on Friday, with the market underpinned by strong domestic demand and tight supplies as slaughter numbers lagged well behind the 2021 pace. Traders also noted technical buying helped accelerate the gains. April lean hog futures gained 1.825 cents to 109.4
U.S. livestock: Hog futures hit six-month high on strong cash markets
April live cattle end lower
Chicago | Reuters — Chicago Mercantile Exchange hog futures rose 2.1 per cent on Thursday, with the front-month contract hitting its highest in six months on strength in the cash market, traders said. April lean hog futures gained 2.175 cents, to 107.575 cents/lb., hitting a new contract high and briefly topping the high end of
Kremlin says shipping Belarus potash via Russian ports being discussed
Moscow is discussing the possibility of shipping Belarusian potash via Russian ports, the Kremlin spokesman Dmitry Peskov told reporters February 2. Sanctions-hit Belarus said it had diverted its potash shipments from Lithuania’s Klaipeda port to Russian ports after Vilnius decided to halt the use of its railway for Belarus exports of the crop nutrient. “This
More forecasts for Brazil’s soybean crop slashed
Agribusiness consultancies Cogo and Datagro on February 2 slashed their forecasts for Brazil’s 2021-22 soybean production, joining a series of private firms that cut their estimates earlier in the week as bad weather affects the crop outlook. Cogo said it now sees oilseed output reaching 125 million tonnes, down from a previous forecast of 131
Ford to suspend or cut plants’ output on chip shortage
San Francisco | Reuters — Ford Motor Co. plans to suspend or cut production at eight of its factories in the U.S., Canada and Mexico throughout next week because of chip supply constraints, a spokeswoman told Reuters on Friday. The changes come a day after the Detroit automaker warned a chip shortage would lead to