Chicago Board of Trade corn and soybean futures rose on Friday, bouncing back from four straight days of declines on a mild round of bargain buying, traders said. But wheat futures weakened, weighed down by a firm dollar, which makes U.S. supplies more expensive to overseas buyers.
Farmers in India blocked roads and railway tracks on Friday in a protest against new legislation that they say could pave the way for the government to stop buying grain at guaranteed prices, leaving them at the mercy of private buyers.
U.S. soybeans edged higher on Friday, though the oilseed was poised to record its biggest weekly loss in six months as an advancing U.S. harvest swelled ample global supplies. FUNDAMENTALS. * The most active soybean futures on the Chicago Board Of Trade were down 4.1% for the week, set for the biggest seven-day loss since March 13.
Indian farmers intensified their protests over three new bills that they believe could pave the way for the government to stop buying grain at guaranteed prices, leaving them at the mercy of private buyers such as traders and retailers.
President Donald Trump, looking to shore up support in the U.S. Farm Belt during a tight race for re-election, is taking steps to help producers of corn-based ethanol using a list of policy goals that a group of Midwest senators discussed with him a year ago, according to two sources familiar with the matter.
President Donald Trump, looking to shore up support in the U.S. Farm Belt during a tight race for re-election, is taking steps to help producers of corn-based ethanol using a list of policy goals that a group of Midwest senators discussed with him a year ago, according to two sources familiar with the matter.
U.S. soybean futures edged lower for a third consecutive session on Thursday to hit a one-week low, as advancing harvest in the region added to ample supplies, though losses were checked by strong demand from China. FUNDAMENTALS.
JBS SA, the world's top meatpacker, said on Wednesday it plans to combat destruction in the Amazon by monitoring its entire supply chain for deforestation by 2025, as pressure mounts from environmentalists and investors. Brazilian meatpackers are facing increasing criticism that beef production is fueling deforestation in the Amazon, where cleared land is often used for cattle pasture.
JBS SA, the world's top meatpacker, launched on Wednesday a 1 billion reais fund to foster social and economic development in the Amazon, according to a securities filing. The fund is part of a bigger JBS initiative to fight deforestation and climate change, including monitoring indirect cattle suppliers, the company added.
U.S. government aid payments to tobacco farmers will be channeled through a new account within the office of the agriculture secretary, an unusual move that bypasses the normal mechanism for distributing farm aid and stokes concerns about how the government is using COVID-19 stimulus.
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