GFM Network News


U.S. sees progress on China trade deal’s ag provisions

China makes first U.S. hard red wheat buy since 2017

Washington | Reuters — The U.S. and China have made progress in implementing the agriculture-related provisions of their Phase One trade deal that took effect on Feb. 14, the U.S. Department of Agriculture (USDA) and U.S. Trade Representative said on Tuesday. In a joint statement, they listed a number of steps taken that should help […] Read more

China proposes new standards on hormone residues in beef

New standards would apply to all beef exporters

Beijing | Reuters — China has drawn up food safety standards on residue limits of growth hormones in beef, a move seen as a further step toward opening up its market to imports of the meat from the U.S. China has previously had zero tolerance for any residues of growth hormones, which has restricted the […] Read more


U.S. livestock: CME cattle rise in recovery from contract lows

Hogs close mixed as China uncertainty looms

Chicago | Reuters — Chicago Mercantile Exchange live cattle futures on Monday recovered from contract lows reached last week as concerns temporarily eased about the economic impact from the global coronavirus outbreak. Equity markets also rose on speculation that central banks will cut interest rates to soften the economic blow of the epidemic. “The market […] Read more

CBOT weekly outlook: Coronavirus, other factors grip markets

MarketsFarm — As fears of a worldwide pandemic of the COVID-19 coronavirus increase, markets, including the Chicago Board of Trade (CBOT), are seen to have been taking a beating. “The perception is, it’s going to get worse, that trade is going to struggle,” said Steve Georgy, president of Allendale Inc. at Fort McHenry, Ill., analogizing […] Read more


U.S. grains: Soy, wheat, corn close lower after early gains

Traders focus on signs of tepid demand from China

Chicago | Reuters — U.S. soybean, corn and wheat futures fell on Friday, with all three commodities facing pressure after rising early in the session. Soybean futures hit their highest in more than three weeks after the U.S. Agriculture Department at its annual Outlook Forum projected domestic soybean ending stocks for the 2020-21 marketing year […] Read more



U.S. grains: Corn, soy, wheat end lower ahead of long weekend

Chicago | Reuters — U.S. corn and soybean futures closed lower on Friday on technical selling ahead of a long holiday weekend and uncertainty about U.S. export prospects, traders said. Wheat futures followed the weak trend, drifting lower in rangebound trade. A stronger dollar hung over the markets, making U.S. grains and soy less competitive […] Read more

U.S. livestock: Lean hogs edge up on hopes for Chinese demand

April live cattle up on short-covering

Chicago | Reuters — U.S. lean hog futures rose modestly on Thursday on technical buying and hopes China will step up purchases of U.S. agricultural goods including pork as the U.S.-China Phase One trade deal takes effect, brokers said. Benchmark April lean hog futures on the Chicago Mercantile Exchange settled up 0.3 cent at 64.075 […] Read more


U.S. grains: Soy up on prospects for Chinese demand

U.S. dollar strength drags on wheat, corn

Chicago | Reuters — U.S. soybean futures rose on Thursday, rallying from early declines on short-covering and prospects for China to step up purchases of U.S. supplies as the U.S.-China Phase One deal goes into effect in days, traders said. But wheat and corn futures fell, pressured by a stronger U.S. dollar, worries about economic […] Read more