Reading Time: 2 minutes Hamburg | Reuters — Drought has seriously damaged barley harvests in northern Europe, potentially tightening supplies of animal feed and malt for beer brewing, but a decent crop in France could save the day, experts said on Thursday. “There are painful crop losses in Germany, Poland, Britain and Scandinavia,” one German trader said. “The volume […] Read more
France to the rescue as drought hits EU barley crop
Italy in no rush to reject EU-Canada trade deal
Reading Time: 2 minutes Brussels | Reuters — Italy is in no hurry to bring the European Union’s free trade agreement with Canada to a parliamentary vote, its farm minister said on Monday, suggesting its opposition to the deal may be easing. Ministers of the eurosceptic 5-Star/League government have said Italy would not ratify CETA (the Comprehensive Economic and […] Read more
Forecaster sees 65 per cent chance of El Nino emerging in fall
Reading Time: < 1 minute Reuters — Chances of the emergence of the El Nino weather pattern have increased to 65 per cent during the fall and 70 per cent during winter 2018-19, a U.S. government weather forecaster said on Thursday. The last El Nino, a pattern that brings a warming of ocean surface temperatures in the eastern and central […] Read more
U.S. livestock: CME hogs hit new lows as cash prices fall, funds roll
Reading Time: 2 minutes Chicago | Reuters — Chicago Mercantile Exchange hogs on Tuesday marked new lows, and the August contract fell by its three-cent daily price limit, amid eroding cash prices and the roll by funds, said traders. Tuesday was the second of five days that CME livestock market funds which track the Standard + Poor’s Goldman Sachs […] Read more
Canopy Growth to buy Tokyo Smoke owner Hiku Brands
Reading Time: < 1 minute Reuters — Ontario’s Canopy Growth Corp. is buying Toyko Smoke cannabis owner Hiku Brands Co. Ltd. for $269.2 million, the latest deal in a fast-consolidating sector ahead of legal recreational marijuana sales. Smiths Falls-based Canopy Growth on Tuesday offered 0.046 of its shares, or $1.91 per share, for each Hiku share held, a premium of […] Read more
J.M. Smucker to sell U.S. baking brands
Reading Time: < 1 minute Reuters — J.M. Smucker Co. said on Monday it would sell its U.S. baking business, which includes brands such as Pillsbury, Martha White and Hungry Jack, to private equity firm Brynwood Partners for US$375 million. The deal includes a manufacturing facility in Toledo, Ohio, but excludes the baking business in Canada, the company said. “The […] Read more
India extends crop fumigation exemption until year-end
Reading Time: < 1 minute Paris/Mumbai | Reuters — India has extended by six months to the end of 2018 an exemption to its policy for crop cargoes to be fumigated with methyl bromide, a move that should facilitate continued imports of pulses and wheat. The Indian government has issued a letter announcing the exemption would be extended to Dec. […] Read more
U.S. livestock: Early-week cash prices buoy CME live cattle
Reading Time: 2 minutes Chicago | Reuters — Chicago Mercantile Exchange live cattle closed higher on Wednesday, lifted by initial prices for market-ready, or cash, cattle and short-covering after recent market losses, traders said. Thinly traded June futures, which will expire on Friday, led advances. Some investors bought that contract and simultaneously sold deferred months in a trading strategy […] Read more
U.S. EPA proposes higher 2019 biofuels mandate
Reading Time: 2 minutes Reuters — The U.S. Environmental Protection Agency on Tuesday proposed setting a blending mandate of 19.88 billion gallons for 2019 under the Renewable Fuel Standard (RFS), three per cent higher from this year’s and in line with expectations. The agency also said it is considering a number of measures to bring some transparency to the […] Read more
U.S. livestock: CME hogs bounce back on bargain buying
Reading Time: 2 minutes Chicago | Reuters — Chicago Mercantile Exchange hog futures finished higher on Tuesday after short-covering and bargain buying reversed recent market losses amid trade fears, analysts said. Hog farmers in the U.S. may face another wave of higher tariffs by China, which placed stiff retaliatory duties on U.S. pork imports in early April. CME hogs […] Read more
A message from April Stewart, Country Guide's Associate Editor
