GRAIN HIGHLIGHTS: Top Stories of the Day
18 Avril 2018 - 11:54PM
Dow Jones News
TOP STORIES:
China Trade Worries Cloud Soybean Markets -- Market Talk
15:38 ET - Soybean futures slide on renewed jitters over trade.
With few recent signs of better export demand to boost prices,
traders are focused instead on threats to demand. In particular,
they are worried that China's move to slap duties of 179% on U.S.
sorghum could prompt further escalation of tensions between
Washington and Beijing, resulting in what many consider the
worst-case scenario: Chinese tariffs on American soybeans.
Meanwhile, weather forecasts suggesting that upcoming rain in the
Plains wouldn't relieve all of the stressed wheat crop boosted
grain prices. CBOT May soybean futures fall 0.4% to $10.41 3/4 a
bushel. May wheat gains 1.9% to $4.75 1/4 while May corn rises 0.7%
to $3.83. (benjamin.parkin@wsj.com; @b_parkyn)
Fighting Words Start Farm Bill Mark Up -- Market Talk
11:48 ET - A partisan battle over the Farm Bill in the House
Agriculture Committee is starting to sound a lot like war. During a
meeting to consider the five-year bill unveiled in the House last
week, committee Democrats lambasted a legislative process they say
has upended a long tradition of bipartisanship on the committee and
text that is deeply flawed. Top Democrat Collin Peterson (D, Minn.)
kicked off opposition to the bill, calling proposals to expand work
requirements for food-stamp recipients an "ideological crusade,"
and expressing concern for the coalition of rural and urban
lawmakers tasked with providing a safety net for farmers and needy
Americans. "This bill ruins that coalition," Peterson said,
lamenting that "we're turning friends into enemies."
(jesse.newman@wsj.com; @jessenewman13)
STORIES OF INTEREST:
Danone's 1Q Sales Mark Improved Pathway: Davy -- Market Talk
1015 GMT - Danone's first-quarter sales confirm that the company
is on an improved pathway, say analysts at Davy Research. The Irish
brokerage doesn't expect any material changes to forecasts, but
says the risk-reward profile is becoming more favorable at Danone.
Davy expects full-year top-line growth will be 1H-weighted due to a
moderation in early-life nutrition in China during the second half.
Danone shares trade up 2.2% at EUR67.52.
(anthony.shevlin@dowjones.com)
THE MARKETS:
Cattle Futures Rise as Meatpackers Gobble Up Livestock
Cattle futures rose after the week's physical trade started
higher.
Cattle markets fell sharply through March as traders bet that
supplies of slaughter-ready livestock would rise in the weeks and
months ahead. But prices have rebounded in April as factors
including bad weather helped stave off the worst of a surplus. That
has forced meatpackers to pay more to secure animals for their
plants.
April-dated live cattle futures rose 0.8% to $1.18975 a pound at
the Chicago Mercantile Exchange. The more-active June contract also
rose.
Hog futures also rose on Wednesday as packers sought more pigs
to slaughter, pushing cash prices higher. CME June lean hog
contracts rose 2.3% to 78.525 cents a pound.
(END) Dow Jones Newswires
April 18, 2018 17:39 ET (21:39 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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