GFM Network News


File photo of a container vessel being unloaded at a U.K. port. (Sterling750/iStock/Getty Images)

Britain, New Zealand strike free trade deal

London/Wellington | Reuters — Britain and New Zealand have reached agreement in principle on a free trade deal designed to reduce tariffs, improve services trade, and take London one step closer to membership in a broader trans-Pacific trade agreement. Prime ministers Boris Johnson and Jacinda Ardern sealed the deal in a Zoom call on Wednesday

File photo of wheat being loaded onto a bulk vessel at port in Russia. (YGrek/iStock/Getty Images)

‘Containergeddon’ drives sugar, rice shippers back to bulk vessels

New York | Reuters — Food traders are switching from containers back to dry bulk vessels to transport refined sugar and rice, hoping to avoid shipping delays caused by container shortages and port congestion the industry is calling “containergeddon,” according to traders. Container-based transportation has been hit by sky-high costs and delays amid booming shipping



CBOT December 2021 wheat (candlesticks) with 20-, 50- and 100-day moving averages (yellow, brown and dark green lines). (Barchart)

U.S. grains: Wheat firms on global supply concerns

Fertilizer risks underpin corn; soybeans weighed by harvest, firmer crush lends support

Chicago | Reuters — Chicago wheat rose on Friday, supported by global supply concerns and an easing dollar. Corn followed wheat higher, but gains were dragged down by pressure from a lower soybean market as U.S. farmers reap better-than-expected harvests of the oilseed. The most-active wheat contract on the Chicago Board of Trade (CBOT) ended

CME December 2021 live cattle (candlesticks) with 20-, 50- and 100-day moving averages (pink, brown and black lines). (Barchart)

U.S. livestock: CME live cattle falls as cash market idles

Lower cash, pork prices drag on lean hogs

Chicago | Reuters — Chicago Mercantile Exchange live cattle futures fell, pressured by a stagnant cash market and processing backups, traders said. CME December live cattle futures settled down 1.225 cents at 128.325 cents/lb. January feeder cattle futures eased 2.675 cents to end at 157.325 cents/lb. For the week, live cattle futures lost 2.35 cents,


Sea surface temperature anomalies over the Pacific Ocean in degrees Celsius for the week centred on Oct. 13, 2021. (CPC.ncep.noaa.gov)

Another La Nina winter predicted

Polar vortex to chill Prairies, more snow further east, AccuWeather says

Data compiled by a U.S. federal weather forecasting agency show La Nina conditions have developed over the central Pacific Ocean and are likely to linger through February. And La Nina, in turn, is expected to produce hard cold snaps over the Prairies, above-normal precipitation over southern British Columbia and relatively mild temperatures with more snow

Federal Finance Minister Chrystia Freeland appears at a news conference in Ottawa on Sept. 24, 2020. (Photo: Reuters/Blair Gable)

Canada to wind down broad-based COVID aid programs

Feds opt for targeted measures as economy recovers

Ottawa | Reuters — Canada will not extend existing broad-based COVID-19 support programs for companies and individuals when they expire on Saturday because the economy is recovering well, Finance Minister Chrystia Freeland said on Thursday. Instead, Ottawa will introduce more targeted and less costly measures for hard-hit sectors such as the tourism industry. The new

CME December 2021 lean hogs (candlesticks) with 20- and 100-day moving averages (pink and black lines) and CME Lean Hog Index (dark red dotted line, left column). (Barchart)

U.S. livestock: CME lean hogs fall on sluggish export sales

Weaker exports drag on cattle also

Chicago | Reuters — Chicago Mercantile Exchange lean hog futures fell for a third session on Thursday, pressured by weak export activity, traders said. CME December lean hog futures settled down 2.825 cents at 73.2 cents/lb., its biggest drop since Sept. 10 (all figures US$). CME February hogs ended down 2.55 cents at 76.675 cents/lb.



CBOT November 2021 soybeans (candlesticks) with 20-, 50- and 100-day moving averages (yellow, dark green and black lines). (Barchart)

U.S. grains: Soy down on South American weather, technical pressure

Firm U.S. dollar weighs on wheat; rising crop input costs supportive for corn

Chicago | Reuters — Chicago soybean futures fell on Thursday after five straight sessions of gains, pressured by technical resistance and beneficial forecasts for rain in top export competitor Brazil. Wheat eased from a two-week high hit earlier on Thursday as weaker crude oil prices and a firmer U.S. dollar offset tightening global supplies. Corn