GFM Network News


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‘Two Michaels’ have left China, Trudeau says

Huawei CFO en route back to China

Reading Time: < 1 minute Ottawa | Reuters — Two Canadian citizens who were detained by Beijing for more than 1,000 days have left Chinese airspace and will arrive back in Canada early on Saturday, Prime Minister Justin Trudeau told reporters Friday. Michael Kovrig and Michael Spavor were picked up in December 2018, shortly after Vancouver police arrested Huawei Technologies […] Read more

(LDC video screengrab via YouTube)

Dreyfus, others shut soy crushers in China on power curbs

'Cash is on fire'

Reading Time: 2 minutes Beijing | Reuters — Soymeal prices in China, the world’s top consumer of the animal feed ingredient, are rising after at least 20 soybean crushing plants shuttered to comply with curbs on industrial power consumption, industry participants said on Friday. Five crushing plants in the northern city of Tianjin closed this week, said Tianfeng Futures […] Read more


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

U.S. grains: Wheat finds two-week high on strong global demand

Corn, soybeans little changed; wider markets encourage consolidation

Reading Time: 2 minutes Chicago | Reuters — Chicago wheat futures firmed on Friday, ending near a two-week high as the market assessed mixed global production prospects and brisk import demand. Corn eased as supply pressure from the ongoing U.S. harvest countered background support from tight supplies, while soybeans inched higher after trading both sides of even. The most-active […] Read more

CME October 2021 lean hogs (candlesticks) with Bollinger bands (20,2). (Barchart)

U.S. livestock: CME hogs rise, live cattle slip ahead of USDA reports

Cattle on feed top trade estimates

Reading Time: 2 minutes Chicago | Reuters — Chicago Mercantile Exchange (CME) lean hog futures climbed on Friday, largely supported by positioning ahead of a key hog inventory report issued by the U.S. Department of Agriculture (USDA) after the close, analysts said. Higher cash pork prices and the still-wide discount of futures to cash hog prices were also supportive. […] Read more


Huawei Technologies CFO Meng Wanzhou leaves her home to attend a court hearing in Vancouver on Sept. 24, 2021. (Photo: Reuters/Jesse Winter)

Huawei executive, U.S. reach deal to dismiss charges

Meng Wanzhou would be allowed to leave Canada

Reading Time: 3 minutes Updated, Sept. 24 — Reuters — Huawei chief financial officer Meng Wanzhou has reached an agreement with U.S. prosecutors to end the bank fraud case against her, U.S. prosecutors said on Friday, a move that should allow her to leave Canada and relieve a point of tension between China and the United States. Meng was […] Read more

One Canada Square (tower at centre) houses the London head office of the International Grains Council. (Iliffd/iStock/Getty Images)

Grains council tweaks numbers in latest supply and demand data

Reading Time: < 1 minute MarketsFarm — The International Grains Council (IGC) released its monthly supply and demand report Thursday, projecting a six million-tonne increase in total global grain production at 2.289 billion tonnes in 2021-22. That change consisted of a seven million-tonne increase in global corn production, offset by a one million-tonne decrease in world wheat output. Soybean production […] Read more



CME October 2021 lean hogs (candlesticks) with 20-day moving average (dark red line) and cash lean hog index (pink line). (Barchart)

U.S. livestock: CME lean hogs firm on China’s herd restrictions

Cattle mixed to lower ahead of report

Reading Time: 2 minutes Chicago | Reuters — Chicago Mercantile Exchange (CME) lean hog futures firmed on Thursday, after China lowered its sow herd targets in an effort to ensure supply and stabilize prices. China’s ministry of agriculture and rural affairs said the target for its sow herd was now around 41 million head for 2021-2025 and should be […] Read more


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Minnesota grain handler targeted in ransomware attack

Company instead issuing handwritten tickets for grain deliveries

Reading Time: 2 minutes Chicago | Reuters — Minnesota agricultural co-operative Crystal Valley said it had been targeted in a ransomware attack in recent days, making it the second Midwestern farm-services provider in a week to be forced to take systems offline due to cybersecurity incidents. Crystal Valley, which sells supplies like fertilizer to farmers and buys their crops, […] Read more

CBOT December 2021 wheat (candlesticks) with December 2021 oats (orange line, left column). (Barchart)

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

Oats also push corn higher

Reading Time: 2 minutes Chicago | Reuters — Chicago wheat futures firmed on Thursday, strengthened by global supply concerns and a firming oat futures market on drought-stricken North American supplies. Corn and soybeans edged higher, supported by wheat and oats. The most-active wheat contract on the Chicago Board Of Trade (CBOT) added 12 cents to $7.17-3/4 a bushel (all […] Read more