Chicago | Reuters — U.S. wheat futures sank to 5-1/2-year lows on Wednesday under pressure from large global supplies and sluggish demand, in the markets’ fifth consecutive session of declines. Corn and soybean futures each fell for a second day, pressured by the prospect of bumper crops in South America coming to market. Follow-through selling
U.S. grains: Wheat lowest since June 2010 on bumper supplies
Cargill to stop selling seed, inputs in Black Sea region
Chicago | Reuters –– Cargill will stop selling seeds, fertilizer and crop chemicals to farmers in the Black Sea region, as the global trader continues to cut back operations in the face of sliding commodity prices. The 150-year old company, one of the world’s largest privately held corporations, is in the middle of a restructuring
U.S. grains: Wheat drops to lowest since 2010 on record supply estimate
Chicago | Reuters –– U.S. wheat futures dropped to their lowest level since 2010 after the U.S. government on Thursday said year-end global supplies would be the biggest in history. Prices crumbled as the U.S. Department of Agriculture’s forecasts for record-large world wheat production and ending stocks fuelled fears about excessive inventories. Concerns about large
U.S. grains: Soybeans set new 2016 low as rains hit dry Argentina
Chicago | Reuters — U.S. soybean futures slid to seven-week lows on Monday after weekend rains across major exporter Argentina reduced the likelihood that dry weather would curb yields. Wheat futures dropped to a one-month low and corn dropped to its lowest level in three weeks as losses in other markets, including equities and energy,
Online cattle auction aims to shake up U.S. market
San Diego | Reuters — A proposal for an online auction that could shake up the U.S. pricing model for cattle is set to make its public debut on Friday after a test run last week, with the support of a unit of the world’s largest meatpacker. Producers have worried for years that the country’s
U.S. deploys new bird flu plan to protect humans, poultry
Chicago | Reuters — U.S. farm and health officials are racing to assess the threat that a type of bird flu never before seen in the country poses to humans and poultry, employing emergency plans drawn up in the wake of a devastating outbreak in birds last year. The federal government sprang into action on
U.S. finds first avian flu in poultry since June
Chicago | Reuters –– An Indiana turkey flock has been infected with a deadly type of bird flu in the first new case of the disease in U.S. poultry since June, the U.S. Department of Agriculture said on Friday. The flock in Dubois County, Indiana, was infected with a highly pathogenic (“high-path”) strain of H7N8,
U.S. grains: Corn approaches seven-month low on poor exports, big supply
Chicago | Reuters — U.S. corn futures neared a seven-month low on Thursday on concerns about poor export demand and large world supplies. Soybean futures also traded mostly lower, while wheat futures jumped on technical buying. Corn traders focused on exports and stockpiles before the release next week of U.S. Department of Agriculture data. Analysts
Monsanto increases job cuts as corn, chemical sales slump
Reuters — Monsanto said a souring farm economy and currency woes will push its 2016 earnings to the lower end of expectations, while a cost-cutting drive will lead the world’s largest seed company to slash more jobs. Low commodity prices also should lead to more consolidation in the agricultural sector, CEO Hugh Grant said, about
U.S. grains: Rain in Brazil’s forecasts dampens soy futures
Chicago | Reuters — U.S. soybean futures touched a one-week low on Thursday as expectations for beneficial rains in top exporter Brazil overshadowed stronger-than-expected U.S. export sales. Concerns about large U.S. supplies and poor export demand pushed March corn to settle at a new contract low, while wheat futures reached a three-week low. Traders kept
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