Agriculture
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GREELEY, Colo.-- JBS USA says it intends to complete its purchase of two XL Foods beef packing plants in the U.S., effective Monday. JBS USA is taking over a plant in Omaha, Neb., that can process 1,100 head of cattle per day and another plant in Nampa, Idaho, that is idle.
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*Cermaq shares down 2.5 pct, Copeinca shares up 3.8 pct. OSLO, April 5- Norwegian fish farmer Cermaq agreed to take over Copeinca, a Peruvian producer of fishmeal and fish oil, beating out China Fishery Group with a bid that values the firm at $600 million.
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*Corn market struggles to find a bottom after USDA stocks data. CHICAGO, April 4- U.S. corn futures fell to a nine-month low Thursday on continued technical selling and fund liquidation, while soybeans hit a 10- month low on worries that bird flu cases in China may slow feed demand there, traders said.
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*Brazil, Thai mills operating at near production cost. *Brazil cane area up, Russian beet acreage seen down. LONDON, April 4- Top sugar exporters Brazil and Thailand are raising production to cut costs in an effective price war, aggravating an already heavily oversupplied global market as values slide to the lowest levels in over 2-1/ 2 years.
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*Powerful Senate chair says she opposes the rider. So Section 735 would benefit biotech seed companies such as Monsanto Co and Dow Chemical Co.. "We'll certainly try to get that language put into the farm bill," Mississippi farmer Danny Murphy, president of the American Soybean Association, told Reuters.
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CHICAGO, April 3- BBQ fans, brace yourselves: "Pork butt" will soon be a thing of the past. The revised nomenclature emerged after two years of consumer research, which found that the labels on packages of fresh cuts of pork and beef are confusing to shoppers, said Patrick Fleming, director of retail marketing for trade group National Pork Board.
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Corn edged higher in choppy trade, stabilizing after three straight losing sessions following last week's U.S. Department of Agriculture report, which surprised investors with estimates of big U.S. corn and wheat stockpiles. At the CBOT, front-month May wheat settled up 25-3/ 4 cents at $6.96- 1/ 2 per bushel, its biggest single-day rally since Sept. 28.
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*Corn choppy, trying to stabilize after 13 percent plunge. Corn was choppy and trying to stabilize after three straight losing sessions following last week's U.S. Department of Agriculture report, which surprised investors with estimates of big U.S. corn and wheat stockpiles.
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*Plentiful coffee from previous Brazil crop-Licht. NEW YORK/ LONDON, April 3- Raw sugar futures were little changed on Wednesday, hovering near the previous session's 2-1/ 2 year low as expectations of ample global supplies weighed, and cocoa futures on ICE sank on pressure from forward West Africa sales and technical selling.
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*Wheat also up on hope of strong world demand for U.S. supplies. *Corn rises after record loss on bargain-hunting. Corn stabilized after three straight losing sessions following last week's U.S. Department of Agriculture report which surprised investors with estimates of big U.S. corn and wheat stockpiles.
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*Plentiful coffee from previous Brazil crop-Licht. May raw sugar futures edged down 0.02 cent or 0.1 percent to 17.57 cents a lb by 1119 GMT, just above Tuesday's 2-1/ 2 year low of 17.50 cents. "Big crops in Thailand, India and Mexico, and the favourable weather in Brazil suggesting a good crop there: all of these factors suggest general bearishness."
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*Corn seed and trait sales jump more than 16 pct. April 3- Monsanto Co, the world's largest seed company, raised its full-year profit forecast on Wednesday after reporting a better-than-expected second quarter driven by strength in its global corn and herbicide businesses.
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*Wheat rallies late, U.S. crop conditions a worry. *Soybeans bounce after falling to 3- month low. CHICAGO, April 2- Chicago Board of Trade wheat prices rose 1 percent Tuesday on bargain buying as the market rebounded from Monday when it fell to a nine-month low in reaction to last week's U.S. government report that showed larger-than-expected grain stockpiles.
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CHICAGO, April 2- U.S. farmers who tasted record-high prices for corn during last summer's historic drought are abandoning long-held selling strategies in hopes that the market serves up another rally.
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*Corn retreats after early short-covering rally fizzles. CHICAGO, April 2- Corn prices fell on Tuesday for a third straight session, touching a nine-month low, as funds kept liquidating positions after the U.S. government reported last week that stockpiles were much larger than expected.
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Subsoil moisture levels were short to very short across 81 percent of Kansas. The agency's weekly snapshot of winter wheat showed 29 percent of the Kansas crop rated in poor to very poor condition. KASS also said that just 13 percent of the Kansas winter wheat crop has jointed.
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LONDON, April 2- Raw sugar futures on ICE eased to a 2-1/ 2 year low on Tuesday on expectations of a bumper crop from top producer Brazil as its harvest got under way. ICE arabica coffee was lower, also under pressure from ample Brazil supplies, while cocoa was steady.
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Wheat and soybeans also rose, recovering some ground after falling sharply following last Thursday's bearish stocks report issued by the U.S. Department of Agriculture.
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*Corn retreats after early short-covering rally fizzles. CHICAGO, April 2- Corn prices fell for a third straight session on Tuesday after recording their biggest two-decline in at least 50 years, following news last week that U.S. stockpiles were much larger than expected.
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As millions of procrastinating Americans prepare to file their taxes, here's a fun fact: William Shakespeare was a tax dodger!