GFM Network News


CME December 2021 live cattle (candlesticks) with Bollinger bands (20,2). (Barchart)

U.S. livestock: CME cattle futures touch one-week highs

Chicago lean hogs retreat

Chicago | Reuters — Chicago Mercantile Exchange live cattle futures hit one-week highs on Monday on technical buying and short covering, while lean hog futures tumbled, traders said. The gains in cattle came after the market sank to a four-month low on Friday. “This market is technically very oversold,” said Brian Hoops, president of broker […] Read more

File photo of a canola crop south of Ethelton, Sask. in 2019. (Dave Bedard photo)

Canada’s drought forces canola importers to turn elsewhere

'Importers...are going to be left out in the cold'

Winnipeg | Reuters — Canada’s smallest canola harvest in 13 years, resulting from severe drought, is forcing importers like Japan and Mexico to pay more or scour other countries for the yellow-flowering oilseed. With the scant available Canadian canola fetching high prices, customers of the world’s biggest canola exporter are leaning more heavily on smaller-producing […] Read more


Beef is on display at a Walmart in Beijing on Sept. 23, 2019. (File photo: Reuters/Tingshu Wang)

China applies to join Trans-Pacific trade pact

Second-biggest economy seeks to add to economic clout

Updated, Sept. 17 — Beijing | Reuters — Japan said it would have to determine if China meets the “extremely high standards” of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) after the world’s second-biggest economy formally applied to join. Commerce Minister Wang Wentao submitted China’s application to join the free trade agreement in […] Read more

Brazilian meatpacker JBS SA’s logo on a tower in Jundiai, northwest of Sao Paulo in southeastern Brazil, on June 1, 2017. (File photo: Reuters/Paulo Whitaker)

JBS says it paid US$11 million in bitcoin for ransom

Cyberattack disrupted plants in North America, Australia

Reuters — Meatpacker JBS USA paid a ransom equivalent to US$11 million (C$13.3 million) following a cyberattack that disrupted its North American and Australian operations, the company’s CEO said in a statement Wednesday. The subsidiary of Brazilian firm JBS halted cattle slaughtering at all of its U.S. plants and its Alberta beef plant for a […] Read more


Screengrab from a 2018 video showing cold storage at the JBS beef slaughter and packing plant at Brooks, Alta. (JBS video via YouTube)

JBS plants reopen as White House blames Russia over hack

Washington/Chicago | Reuters — JBS SA employees started returning to U.S. meat plants on Wednesday, a day after the company’s beef operations stopped following a ransomware attack, disrupting meat production in North America and Australia. A notorious Russia-linked hacking group is behind the cyberattack against JBS, a source familiar with the matter said. Brazil’s JBS […] Read more

(JBSFoodCanada.ca)

Ransomware attack on JBS halts Canadian, U.S. slaughter

Cyberattack likely from Russia, White House says

Chicago/Aboard Air Force One | Reuters — Brazil’s JBS SA told the U.S. government that a ransomware attack on the company that has disrupted meat production in North America and Australia originated from a criminal organization likely based in Russia, the White House said on Tuesday. JBS is the world’s largest meatpacker and the cyberattack […] Read more





(Serts/iStock/Getty Images)

Pulse weekly outlook: India likely in need of more lentils

MarketsFarm — A recent webinar co-hosted by the India Pulses and Grains Association and Pulse Australia focused on lentil production in the two countries, with tighter Indian supplies likely leading to increased import demand going forward. “The share of Australian lentils in India’s import has been 10 to 15 per cent over the last seven-eight […] Read more

CBOT May 2021 soybeans (candlesticks) with 20- and 50-day moving averages and CBOT May 2021 soyoil (black line). (Barchart)

U.S. grains: Soyoil leads soybean complex higher

Wheat follows corn, soy higher

Chicago | Reuters — Chicago soybean futures climbed on Tuesday, led by rising soybean oil as global edible oil supplies tighten. Corn futures also moved higher, as traders weighed Brazil’s late-planted second crop against beneficial rains in Argentina. Wheat followed the markets higher, despite much-needed rainfall across the U.S. Plains production belt. The most-active soybean […] Read more