Chicago | Reuters – Chicago Mercantile Exchange lean hog futures fell to their lowest prices in more than a week on Thursday in a setback from recent rallies, traders said. Live cattle futures also ended lower after the February contract LCF3 set a new high. The hog and cattle markets were overbought and due for corrections, traders
U.S. livestock: Lean hogs touch one-week lows in pullback from gains
U.S. grains: Corn futures end down as U.S. export sales disappoint traders
Chicago | Reuters – U.S. corn futures slumped on poor export demand on Thursday, analysts said, while wheat futures also declined. Traders were disappointed as the U.S. Department of Agriculture (USDA) reported weekly U.S. corn export sales of 264,000 tonnes in the week ended Oct. 20. That was below the low end of analysts’ estimates that ranged
U.S. livestock: Supply concerns drive CME live cattle to new contract high
Chicago | Reuters – Chicago Mercantile Exchange live cattle futures closed higher and reached a new contract high on Wednesday amid concerns about tightening U.S. supplies, brokers said. Strong recent gains have left the market technically overbought and due for a setback, brokers said. “We’ve had a nice rally here,” said Matt Wiegand, commodity broker
U.S. grains: Wheat rebounds from one-month low amid Ukraine export uncertainty
Chicago | Reuters – Chicago Board of Trade wheat futures rose on Wednesday amid uncertainty about exports from war-torn Ukraine, analysts said, while gains in corn and soybean futures evaporated. Concerns about Ukraine increased as data from the country’s agriculture ministry showed that grain exports have slowed over the past 10 days, with volumes so far this month 9
U.S. livestock: Live cattle futures turn lower after setting contract highs
Chicago | Reuters – Chicago Mercantile Exchange live cattle futures ended mostly lower on profit-taking on Tuesday as the market pulled back from contract highs, analysts said. The market consolidated after recent gains, though analysts said cash cattle prices are expected to strengthen this week. Most actively traded December live cattle LCZ2 ended 0.825 cent lower at
U.S. grains: Wheat futures slip to one-month low as soybeans advance
Chicago | Reuters – Chicago Board of Trade wheat futures fell to a one-month low on Tuesday under pressure from expectations for rain in dry global growing areas and for continued exports of Ukrainian grain from the Black Sea region. Soybean and corn futures advanced. Weather forecasts for showers in the coming days in drought-affected
U.S. needs to press Mexico on looming biotech corn ban, Vilsack says
Reuters – U.S. Agriculture Secretary Tom Vilsack says he continues to talk with officials in Mexico about that country’s looming ban on genetically modified (GM) corn, adding that it will be important to get clarity on the issue in 2023. A decree issued by Mexico’s President Andres Manuel Lopez Obrador in late 2020 would phase
U.S. plans rule to protect livestock farmers from company retaliation
Reuters – The U.S. Department of Agriculture is proposing regulations to prevent meat companies from retaliating against livestock and poultry farmers who speak out on practices such as price-fixing. The USDA also said it would work with state attorneys general to investigate anticompetitive practices in the agricultural sector that contribute to inflation. The moves aim
Droughts, Ukraine war push global grain stocks toward worrying decade low
Stocks will be lower than in 2012, the most recent year that saw food riots
Reuters – The world is heading toward the tightest grain inventories in years despite the resumption of exports from Ukraine, as the shipments are too few and harvests from other major crop producers are smaller than initially expected, according to grain supply and crop forecast data. Poor weather in key agricultural regions from the United
Meatpacker JBS to close U.S. plant-based foods business
Chicago | Reuters — Brazilian meatpacker JBS is closing its U.S. plant-based foods business, Planterra Foods, after about two years, the company said on Monday. The closure signals increasing troubles in the plant-based protein sector, where U.S. sales are flattening. Colorado-based Planterra sold fake meat under the Ozo brand, but JBS will now focus on
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