Reuters — Saputo Inc., one of Canada’s largest dairy producers, reported on Tuesday a 30 per cent jump in net earnings and boosted its quarterly dividend by 11 per cent. For Saputo’s fiscal 2017 first quarter, net income rose to $176.7 million, or 44 cents a share, from $136.4 million, or 34 cents, in the […] Read more
Saputo profit jumps, dividend raised
U.S. opens up to Brazil fresh beef imports
Brasilia | Reuters –– The U.S. and Brazilian governments exchanged food safety equivalence documents on Monday that will open up their respective markets to fresh beef exports, a window expected to boost Brazil’s exports to the U.S. by US$900 million. The U.S. Department of Agriculture said its Food Safety and Inspection Service had determined that […] Read more
IGC raises 2016-17 global wheat, corn forecasts
London/ Reuters – The International Grains Council has raised its forecasts for global corn production in the 2016-17 season, largely reflecting improved crop prospects in the United States. World corn (maize) production was upwardly revised to 1.017 billion tonnes, up from a previous projection of 1.003 billion and the prior season’s 968 million. “Better crop prospects […] Read more
Canada’s Maple Leaf Foods profit beats estimates
Canadian meat processor Maple Leaf Foods reported a quarterly profit that squeezed past estimates as lower operating costs and increased pricing more than offset a fall in volumes in its meat products business. The company, whose brands include Schneiders and namesake Maple Leaf, recently completed a program started in 2010 to boost earnings by shutting […] Read more
Saskatchewan premier ‘not satisfied’ with Husky spill response
Saskatchewan Premier Brad Wall said on Wednesday he was not satisfied with Husky Energy Inc’s emergency response to an oil spill into a river that supplies drinking water, and said the western Canadian province needed to consider ways to avoid a recurrence. The spill of 1,572 barrels of oil from a Husky pipeline into the […] Read more
EU approves Monsanto Roundup Ready 2 Xtend beans
Reuters — The European Commission on Friday approved imports of Monsanto’s Roundup Ready 2 Xtend genetically modified soybeans, opening up an important export market for North American soybeans and easing their global rollout. The decision removes a hurdle for Monsanto in its dealings with farmers and grain traders, who have to keep track of whether […] Read more
EU livestock farmers get compensation
Dairy farmers receive funds to offset price slump after scrapping of quotas
Brussels/Paris – Reuters — The European Union will grant an additional 500 million euros (C$721 million) to EU farmers struggling with a long-running crisis linked to low prices, notably in the dairy sector where it aims to reverse a boom in milk output after the scrapping of production quotas. European milk farmers have been struggling with […] Read more
La Nina seen likely to build in August-to-October period
New York | Reuters –– Following a damaging El Nino weather period, a U.S. government weather forecaster on Thursday said the La Nina weather phenomenon is favoured to develop during August through October 2016. The Climate Prediction Center (CPC), an agency of the National Weather Service, said in its monthly forecast there is a 55-60 […] Read more
Egypt prosecutor says some local wheat bought on paper only
Cairo | Reuters –– Egypt’s general prosecutor said on Thursday some local wheat was bought by the government in paper transactions only and not physically delivered, the first public statement by his office on the matter since fraud allegations surfaced last month. Egypt, the world’s largest wheat importer, launched a government-led inspection of wheat silos […] Read more
Mosaic idles Saskatchewan potash mine
Reuters — Fertilizer producer Mosaic Co. has idled production at its Colonsay, Sask. potash mine for the rest of 2016, and temporarily laid off 330 workers, the company said in a statement Wednesday. Potash prices are hovering around the lowest levels seen in a decade, amid excessive output capacity and delays in setting annual supply […] Read more
Canadian Cattlemen Presents: Depth of Field
