Chicago | Reuters — U.S. futures regulators fined a Memphis trading firm and three associates US$5 million on Wednesday for using a manipulative tactic in CME Group’s cattle futures, a market grappling with extreme volatility. The Commodity Futures Trading Commission said it penalized McVean Trading + Investments $1.5 million and its chairman, Charles Dow McVean, […] Read more
CFTC fines cattle futures traders US$5 million
U.S. Trade Representative says no deadline for NAFTA deal
Washington | Reuters — U.S. Trade Representative Robert Lighthizer said on Wednesday there was no deadline for completing NAFTA trade talks between the United States, Canada and Mexico even as lawmakers warned that U.S. business would be hurt by prolonged negotiations. “There is no deadline. My hope is that we can get it done by […] Read more
Whole Foods CEO hints at another brand under Amazon
Reuters — After Amazon.com completes its takeover of high-end grocer Whole Foods Market, it might launch another brand with different standards, the grocery chain’s chief executive said in remarks reported in a securities filing on Monday. Amazon plans to keep the natural grocer’s high standards, Whole Foods CEO John Mackey said, adding, “They’re not stupid […] Read more
U.S. finalizes talks to resume beef exports to China
Chicago | Reuters — Final details are in place to allow U.S. exporters to resume beef shipments to China, U.S. officials said on Monday, allowing companies to prepare for their first shipments in 14 years. After concluding talks with Beijing, the U.S. Department of Agriculture said U.S. producers must track the birthplace of cattle born […] Read more
U.S. forecaster sees El Nino unlikely through fall
Reuters — A U.S. government weather forecaster on Thursday said there are no active El Nino or La Nina patterns and that neutral conditions are likely in the Northern Hemisphere during fall 2017. However, chances for El Nino remain elevated, between 35 and 50 per cent, relative to the long-term average into the fall, the […] Read more
Conagra to sell Wesson oil brand to Smucker
Reuters — Packaged food maker Conagra Brands said on Tuesday it would sell its Wesson cooking oil brand to Folgers coffee maker J.M. Smucker Co. for about US$285 million. Conagra will continue to manufacture products sold under the Wesson brand for up to one year following the close, after which Wesson will be merged into […] Read more
Indian court suspends ban on beef cattle trade
New Delhi | Reuters — An Indian court suspended on Tuesday a government ban on the trade of cattle for slaughter, a lawyer involved in the case said, giving some relief to Muslim-dominated beef and leather industries that employ millions of poor workers. The Madurai bench of the Madras High Court suspended for four weeks […] Read more
Glencore approaches Bunge on possible takeover
Reuters — Glencore Plc said on Tuesday its agricultural unit has made an informal approach to commodities trader Bunge Ltd. about a “possible consensual business combination,” the company said in a statement. The commodities trading firm did not say more about a potential offer that its Glencore Agriculture unit made to Bunge. Glencore, whose Canadian […] Read more
EU to propose 10-year licence renewal for glyphosate
Brussels | Reuters — The European Commission will propose extending by 10 years its approval for glyphosate, the active ingredient in Monsanto’s Roundup herbicide, a spokeswoman said on Wednesday. A transatlantic row over possible risks to human health has prompted investigations by congressional committees in the U.S., and in Europe has forced a delay to […] Read more
JBS delays but does not give up on U.S. IPO plan
Sao Paulo | Reuters — JBS SA, the world’s largest meatpacker, has delayed but not ditched its plan to list a U.S. subsidiary this year despite a series of investigations targeting the company’s owners, CEO Wesley Batista said Tuesday. A court last week ruled the CEO and his brother Joesley, fellow founder and current JBS […] Read more
Canadian Cattlemen Presents: Depth of Field
