The Mexican government's push to wean itself off a massive dependence on genetically modified corn imports would upend the country's food supply, including its big livestock sector, industry officials warn. Both the agriculture and economy ministries held high-level meeting with industry representatives this week, according to several participants.
Corn Up Again on Strong Export Sales. Corn for March delivery rose 1.9% to $5.34 1/ 4 a bushel on the Chicago Board of Trade Thursday as grain traders saw strong export sales data this morning supporting higher prices. Soybeans for March delivery rose 1.7% to $14.30 1/ 2 a bushel.
Taco Bell Brings Back Two Potato Items, Works With Beyond Meat. Taco Bell is bringing back two potato-based items that it dropped during last year's menu simplification and working with Beyond Meat Inc. on a new plant-based protein that will be tested in the next year. The chain owned by Yum Brands Inc. said Cheesy Fiesta Potatoes and the Spicy Potato Soft Taco will return March 11..
--Primark sales for the period fall 30% amid store closures. --Full-year sales, adjusted operating profit for Primark are expected to be lower than in fiscal 2020. --Sugar business revenue rose to GBP545 million.
China imported 9.91 million tonnes of meat in 2020, customs data showed on Thursday, as the world's biggest consumer of meat stocked up on proteins after a further plunge in its pork output. Shipments were up 60.4% on the year before and came after China's output of pork, its staple meat, slumped 19% in the first half.
There is little evidence efforts by the world's top coffee roasters and traders to prevent human rights and environmental abuses are having any impact, with most farmers operating at a loss and unable to produce sustainably, a major coffee report said on Thursday.
Global commodities trader and food processor Cargill is in talks with Brazil's Copersucar to exit their sugar trading joint-venture, Alvean, the Brazilian company said in a statement on Wednesday. Cargill is negotiating to sell its 50% share in the JV to Copersucar, which would become the sole owner of the business.
CME Group Inc (CME): * CME RAISES WHEAT FUTURES MAINTENANCE MARGINS BY 9.1% TO $1,800 PER CONTRACT FROM $1,650 FOR MARCH 2021. * CME RAISES CORN FUTURES MAINTENANCE MARGINS BY 18.2% TO $1,300 PER CONTRACT FROM $1,100 FOR MARCH 2021. * SAYS INITIAL MARGIN RATES ARE 110% OF THESE LEVELS. * SAYS RATES WILL BE EFFECTIVE AFTER THE CLOSE OF BUSINESS ON JAN. 14, 2021.
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