GFM Network News


U.S. senators scrutinize meat packers’ profits during pandemic

Chicago | Reuters — U.S. senators are calling for investigations of record profit margins for beef processors such as Tyson Foods and Cargill, after ranchers complained surging meat prices due to coronavirus hoarding did not translate into higher cattle prices. Futures prices for cattle have tumbled during the outbreak, worrying farmers as the U.S. economy […] Read more

U.S. grains: Corn drops after USDA pegs plantings above expectations

USDA forecasts largest U.S. corn acres in eight years

Chicago | Reuters — U.S. corn futures settled lower on Tuesday after the U.S. Department of Agriculture (USDA) forecast 2020 plantings at the largest in eight years, well above trade expectations, while soybeans firmed on a lower-than-anticipated acreage outlook. A tighter-than-expected USDA quarterly corn stocks estimate limited losses, but most contracts notched life-of-contract lows after […] Read more



U.S. grains: Corn rebounds after multi-year lows

Soybeans firm, wheat sags

Chicago | Reuters — U.S. corn futures rose on Tuesday, clawing back from last week’s multi-year lows as traders covered short positions and farmer sales stalled, analysts said. Wheat futures declined, pressured by profit-taking after recent rallies, while soybeans closed modestly higher. Chicago Board of Trade May corn settled up 3-3/4 cents at $3.47-1/4 per […] Read more


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

U.S. under pressure to keep slaughterhouses open

Chicago | Reuters — The U.S. Department of Agriculture is seeking to reassure meat producers it will keep slaughterhouses staffed with federal inspectors as fears about potential shutdowns due to the COVID-19 coronavirus hammer livestock prices and fuel concerns about food supplies, meat industry groups said on Monday. Livestock markets have been hit hard as […] Read more


U.S. grains: Corn, wheat decline as Wall Street tumbles

Chicago soy turns lower

Chicago | Reuters — Chicago corn and wheat futures declined on Wednesday, following as Wall Street equity markets fell sharply on fears of the coronavirus causing a global recession and a lack of immediate U.S. measures to counter the economic fallout. Soybean futures turned lower, erasing early advances tied to a pick-up in export demand […] Read more




U.S. grains: Virus worries, export sales drag on soybeans

Corn down on rising U.S. ethanol stocks

Chicago | Reuters — U.S. soybean futures fell on Thursday on poor export demand coupled with declines in global equity markets tied to worries about an economic slowdown due to the COVID-19 coronavirus, analysts said. Corn followed soybeans lower while nearby Chicago Board of Trade wheat futures clung to modest gains, supported by inter-market spreading. […] Read more