Reading Time: < 1 minute Chicago Mercantile Exchange live and feeder cattle futures dropped on Wednesday in a technical and profit-taking retreat following recent strong gains and as beef packer margins fell deeper in the red, analysts said.
Reuters
U.S. livestock: Cattle futures recoil from highs as packer losses deepen
Mexico expects resolution on GM corn dispute by Dec. 14
Reading Time: < 1 minute Mexican Economy Minister Marcelo Ebrard said on Tuesday he expected a resolution on a dispute under the U.S.-Mexico-Canada free trade pact regarding Mexican restrictions on imports of genetically-modified (GM) corn by Dec. 14.
U.S. grains: Soybeans fall as good South America weather lift crop prospects
Reading Time: 2 minutes U.S. soybean futures fell on Wednesday on favorable crop weather in South America and concerns about the incoming Trump administration's hawkish approach to trade with top importer China.
Biden administration will not finalize clean fuel tax credit guidance
Ethanol producers hoping aviation fuel would provide market growth after amid stagnant demand
Reading Time: 2 minutes Biden administration officials will not finalize highly anticipated guidelines on new clean fuel production tax credits aimed at the airline and biofuel industries before they leave in January, three sources told Reuters, casting doubt on the future of a key piece of the U.S. president's climate agenda.
Italy wants changes to EU-Mercosur trade deal’s agriculture sections, minister says
Reading Time: < 1 minute Italy wants changes to agricultural sections of the draft EU-Mercosur trade deal with South American countries, Foreign Minister Antonio Tajani said on Wednesday.
U.S. livestock: Cattle futures bounce on tight supplies, firm cash markets
Reading Time: < 1 minute Chicago | Reuters – Chicago Mercantile Exchange live and feeder cattle futures rebounded on Tuesday from prior-session declines, continuing a recent climb sparked by tight cattle supplies and firm cash market prices. Recent strength in wholesale beef prices also encouraged continued buying despite a seasonal tendency for the market to decline after the Thanksgiving holiday […] Read more
U.S. grains: Soybeans recoup losses, but Brazil crop outlook caps gains
Reading Time: 2 minutes U.S. soybean futures rebounded on Tuesday in a short-covering and bargain-buying bounce from the prior day's losses, although gains were limited by favorable crop prospects in South America, where Brazil is due to harvest a record crop early next year.
Commodities trading giant Cargill plans to cut around 8,000 jobs
Reading Time: 3 minutes Global trading house Cargill said on Tuesday it plans to cut around five per cent of its staff, or about 8,000 jobs after revenue slumped in its most recent fiscal year as crop prices hit multi-year lows.
U.S. livestock: Feeder cattle drop on profit taking after 10-session rally
Reading Time: < 1 minute Chicago | Reuters – Chicago Mercantile Exchange feeder cattle futures retreated in a profit-taking setback on Monday after a ten-session rally that took prices to five-month peaks, while live cattle futures followed feeders lower. Monday’s cattle declines came after managed funds had bolstered their long holdings in both markets over recent weeks, encouraged by tight […] Read more
New Zealand suspends poultry exports after first case of H7 bird flu
Reading Time: < 1 minute New Zealand said on Monday that it had suspended all poultry exports after detecting a highly pathogenic variant of avian influenza at a poultry farm on the South Island.