Chicago soybean and corn futures surged on Friday after the U.S. Department of Agriculture projected lower-than-expected U.S. production after a dry end to the growing season.

U.S. grains: Corn and soybeans leap on smaller-than-expected US harvest

US issues partial guidance on clean fuel subsidies, chafing ethanol makers
U.S. biofuels groups are eager for clarity on the tax credits for fuels that combat climate change, which they hope will ultimately provide a pathway for corn-based ethanol to expand its market as a feedstock for sustainable aviation fuel.

Federal liberals to choose new leader on March 9
Outgoing Prime Minister Justin Trudeau's Liberal Party said late on Thursday it will choose a new leader on March 9 ahead of the 2025 elections for which polls show the party in a very weak position.

Tentative labour deal heads off US port disruption; Trump credited
A tentative labor deal forestalled potentially damaging trade disruptions at three-dozen U.S. East Coast and Gulf of Mexico ports, with both sides in the talks crediting President-elect Donald Trump for clearing the way for them to hammer out a deal on automation.

Germany confirms first case of foot-and-mouth disease in nearly 40 years
German authorities confirmed the country's first outbreak of foot-and-mouth disease in nearly 40 years on Friday in a herd of water buffalo on the outskirts of Berlin.

U.S. grains: Soybeans, corn rise as traders position ahead of USDA report
Chicago soybean and corn futures ticked up on Thursday as traders squared positions ahead of a major U.S. Department of Agriculture supply-and-demand report due on Friday.

China accelerates efforts to boost crop yields, ensure food security
China will accelerate the breeding of new soybean and corn varieties and prioritize yield improvements for key grains and oil crops, as part of broad efforts to ensure food security, the agriculture ministry said in a statement late on Wednesday.

Idemitsu to begin trial of non-edible oilseed crop for aviation fuel
Idemitsu Kosan will begin a trial plantation of the non-edible oilseed tree crop Pongamia in Australia from mid-January to assess its potential as a feedstock for sustainable aviation fuel (SAF), the Japanese crude oil refiner said on Thursday.

US forecaster says La Niña conditions present, could persist through Feb-April
La Niña conditions are present and there is a 59 per cent chance of it persisting through February-April 2025, with a 60 per cent chance of transition to ENSO-neutral conditions during March-May 2025, a U.S. government forecaster said on Thursday.

USDA says it has not set Jan. 20 as date to resume Mexican cattle imports
The U.S. Department of Agriculture has not established Jan. 20 as a date to resume cattle imports from Mexico, the agency said on Wednesday, after it blocked shipments in November over the discovery of the New World screwworm pest in Mexico.