CEREAL HIGHLIGHTS: The best stories of the day
Corn futures prices rise on forecasted drop in Midwestern temperatures
Corn for delivery in May rose 1.1% to $ 5.60-1 / 2 a bushel on the Chicago Board of Trade on Wednesday, as the Midwestern weather forecast may soon become less hospitable to farmers planting their crops.
Wheat for May delivery rose 0.1% to $ 6.16 1/4 a bushel.
Soybeans for May delivery fell 0.7% to $ 14.08 3/4 a bushel.
Beyond Meat Plans production facility in China
Beyond Meat Inc. will open its own production facility in China, the plant-based meat company said on Wednesday.
The facility, which will be located in the Jiaxing Economic and Technological Development Zone near Shanghai, will be Beyond Meat’s first end-to-end manufacturing site outside the United States and will help the company expand into China. said Beyond Meat.
STORIES OF INTEREST:
CHS Won In Agriculture Segment On Better Business Relationships – Market Talk
0755 ET – Agri-food cooperative CHS says its agricultural segment has benefited from better trade relations with the United States. “Improved trade relations between the United States and foreign trading partners, combined with our operational efficiency initiatives, have resulted in record increases in grain and oilseed volumes and continued price increases, significantly improving our Ag segment profits over the previous year, ”said CEO Jay Debertin. “In addition, favorable growing conditions and general strength in agriculture have helped stimulate demand for crop inputs, including crop nutrients and crop protection products and services. The co-op was hit again by its pandemic-hit energy segment in F2Q. ([email protected]; @depsebastian)
Soybeans follow falling soybean oil prices – market talk
12:45 ET – US soybean futures drop, partly in response to lower soybean futures on CBOT today, most active soybean contract falling 2.2 %. Soybean oil in particular has been strong due to strong crushing demand and low vegetable oil stocks globally, but traders are watching China for further direction in the complex. soy. “This week, China is expected to start seeing a significant increase in Brazilian soybean arrivals,” StoneX’s Darin Friedrichs said. “If there is a big increase in arrivals, but the crash doesn’t increase much, that would signal poor demand.” Soybean futures on the CBOT fell 0.6%. ([email protected]; @kirkmaltais)
Brazilian crop growth puts pressure on CBOT futures – market talk
13:20 ET – The latest estimates for next year’s Brazilian corn and soybean crops released by the USDA this morning put pressure on grain futures markets on the CBOT today. For the 2021/22 crop year, USDA projects Brazilian soybean production at 141 million metric tonnes and corn production at 114 million metric tonnes, compared to current crop year estimates of 134 MMT and 105 MMT, respectively. “There is certainly nothing extraordinary about these numbers, and economically there should be more than enough incentive to increase production,” said Dan Hueber of the Hueber Report. ([email protected]; @kirkmaltais)
Some farm businesses could reap $ 200 billion from climate change – Market Talk
13:54 ET – By 2050, weather conditions, pest migration, and disease from climate change could represent an estimated $ 200 billion opportunity for manufacturers of better seeds, crop chemicals and equipment agriculture, according to Jefferies analysts, naming AGCO, Corteva and Deere as top picks. “We believe there will be distinct opportunities for investors to capitalize on changing trends in global weather conditions over the coming decades,” they said. ([email protected]; @dieterholger)
Gathered Foods obtains funding from Louis Dreyfus
1534 ET – Gathered Foods, which makes Good Catch plant-based seafood alternatives, reports $ 26.35 million B-2 funding round that includes Louis Dreyfus Co., Unovis Asset Management and Big Idea Ventures . The investment “underscores global confidence in the growing plant-based seafood industry,” according to Gathered Foods, and will help the company expand its international retail presence and “grow significantly.” Good Catch product offerings. Other players in the plant-based seafood industry include New Wave Foods, which in January said it had closed a Series A funding of $ 18 million. New Wave announced funding from the venture capital arm of Tyson Foods in 2019 ([email protected])
THE STEPS :
Pork cuts prolong their rise – market talk
1607 ET – US pork cut prices continued their ascent today, eventually providing lean pork on the CME with the juice they needed to keep rising. Lean pork futures ended up 2.2% at $ 1.079 a pound, in part on higher prices for pork belly, ham and ribs. The overall price of carcasses rose more than $ 3 per cwt at noon on Wednesday, bringing the price of the carcass to $ 112.41 per cwt, according to the USDA. The higher demand for pork cuts by food service providers has been a driver for the future of higher livestock. Meanwhile, live cattle futures ended up 0.5% at $ 1.25275 a pound. ([email protected]; @kirkmaltais
(END) Dow Jones Newswires