Grains futures soar, beef and pork prices mixed

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CHICAGO (AP) Grains futures jumped Tuesday on the Chicago Board of Trade after the U.S. Agriculture Department said hot weather in several of the country’s biggest farm states was stressing crops. A smaller crop could drive up prices. wheat for September delivery soared 41.5 cents to $7.18 a bushel; December Corn shot up 30 cents…


Corn prices surge as sizzling heat stresses crops

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By The Associated Press Corn prices are surging as sizzling heat is stressing crops in four of the nation’s top five producing states. Corn jumped 4.4 percent Tuesday to settle at $7.1575 a bushel. wheat and Soybean prices also rose. The U.S. Agriculture Department says about 62 percent of the corn crop was in good…


Data doubts fuel late surge in corn, wheat futures

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Grain prices put in a late burst in Chicago, taking gains above 3%, amid growing doubts over the official data which showed the US corn crop failing to deteriorate last week despite further heat. Corn for December, the most-traded contract, soared 3.7% to $7.11 ½ a bushel in late deals in Chicago, where wheat for…


Brazil sugar cane output set for 2012 recovery

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Brazil’s sugar cane output is set for a recovery in 2012, US Department of Agriculture attaches said, even as they joined the round of analysts cutting estimates for this year’s weather-harmed output. The attaches cut by 26m tonnes to 595m tonnes their forecast for the cane harvest in the world’s biggest sugar producing country, citing…


Cherkizovo highlights rising Russian meat prices

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Cherkizovo Group highlighted inflation in Russian meat prices, spurred by a fall-off in slaughter rates and an increasing squeeze on imports, which may lead to a stagnation in consumption this year. Sales prices achieved by the protein giant for processed meats soared 12%, in rouble terms, in the first half of the year, compared with…


Fresh Del Monte slips up on European banana prices

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Shares in Fresh Del Monte Produce tumbled – temporarily – to their lowest of 2011 after the fruit and vegetables distributor, hit by weak European banana prices, became the second agribusiness group on Tuesday to miss earnings forecasts. The Florida-based company reported a 2.0% slide, year on year, to $257.1m in European sales in the…


Africa’s rice demand keeps Vietnam prices stable

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Vietnam has contracted to sell around 100,000 tons of 25 percent broken rice to several African nations so far this month, helping to keep prices stable at the start of a harvest in the Mekong Delta, traders said on Wednesday. The volume is small compared with around 1.5 million tons Africa buys annually from Vietnam,…


Farming and Ranching is No ‘Get Rich Quick’ Scheme

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For some time now, the investment guru Jim Rogers has been encouraging young people not to pursue careers in high finance, but to become farmers. Rogers argues that in these times, farming is a greater path to wealth and riches than investment banking. Commodity prices are up, retail food prices are high and demand continues…


Rapeseed prices may dip, amid UK harvest ‘bonanza’

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Rapeseed prices may – for now – done enough to make up for the weak Ukrainian harvest prospects which has underpinned prices despite bumper harvests in France and, in particular, the UK. Traders reported growing signs of a tail-off in the buying spree which helped rapeseed prices nearly to E500 a tonne on the Paris…


National feeder cattle report: Weak to lower calf prices

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Compared to last week, lighter receipts of yearling feeder cattle sold unevenly 2.00 lower to 2.00 higher with the gains predominantly on those weighing over 800 lbs (especially steers) and weakness mostly on 600-800 lb feeders. Last Friday’s bearish cattle-on-feed report’s bark was much worse than its bite after market members absorbed the fact that…


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