Top News & Analysis Chicago

  • CHICAGO, Aug 9- Chicago Mercantile Exchange lean hog futures were mixed on Friday in choppy trading as investors weighed rising pork prices against weak cash hog values and rising concerns about pork exports to China. The hog market has been riled in recent days by worries that China would suspend all purchases of U.S. pork after months of speculation that sales...

  • President Donald Trump said that the United States and China might not make a trade deal for now, ahead of the monthly supply/demand report. *Trump on Friday said that he was not ready to make a trade deal with China and had decided that U.S. would not do business with Chinese telecoms giant Huawei Technologies for the time being, prompting U.S. stocks to fall sharply.

  • Rising pork prices and solid pork exports supported the market, largely diluting concerns over U.S. trade tensions with China, the world's top hog and pork market. China has suspended all U.S. agricultural product purchases after U.S. "Perhaps we've overdone the expectation that China will never buy U.S. pork again," said Rich Nelson, chief strategist with...

  • The most active soybean futures on the Chicago Board of Trade closed up 16-1/ 4 cents, or 2%, at $8.83 a bushel. The forthcoming updated acreage report from the U.S. Department of Agriculture has some analysts and grain traders nervous, said Jerry Gidel, agriculture economist with the Price Futures Group. "I think some people didn't expect the USDA to go back and...

  • The 3-0 decision from the 9th U.S. Circuit Court of Appeals in San Francisco over Facebook's facial recognition technology exposes the company to billions of dollars in potential damages to the Illinois users who brought the case. Last month, Facebook agreed to pay a record $5 billion fine to settle a Federal Trade Commission data privacy probe.

  • In results delayed by an internal investigation into procurement practices, the Chicago- based company also said net income halved in the first six months of the year. This marks Kraft Heinz's second major writedown since Feb. 21, when the company knocked $15.4 billion off the value of its Kraft and Oscar Mayer brands, posted a surprise quarterly loss, and...

  • CAIRO/ MOSCOW, Aug 8- Saudi Arabia will relax its bug-damage specifications for wheat imports from its next tender onwards, it told Reuters on Thursday, opening the door to Black Sea imports and strengthening ties with Russia beyond energy cooperation. Russia has long sought access to Saudi Arabia's wheat market as Moscow tries to take further market share in...

  • Aug 8- Kraft Heinz Co's net income more than halved in the first half of the year as the packaged food maker booked a goodwill impairment charge in its delayed results. Net income attributable to the company's shareholders fell to $854 million, or 70 cents per share, in the six months ended June 29, from $1.76 billion, or $1.43 per share, a year earlier as it recorded a...

  • Aug 8- CBS Corp and AT&T Inc renewed their contract on Thursday, ending a 20 day-long blackout that began when the companies' previous, seven-year deal expired at 2:00 a.m. EST on July 19. As a result of the contract dispute and after months of negotiations over retransmission fees, CBS stations went dark for more than 6.5 million DirecTV, DirecTV Now and AT&T...

  • SAO PAULO, Aug 7- The price of Brazilian soybeans in local currency reached the highest level in almost two months, driven by a spike in port premiums for soybeans and a weaker currency, both caused by the trade dispute between China and the United States. Prices in Sorriso, at the heart of Brazil's soy country in the state of Mato Grosso, closed at 62.31 reais per bag on...

  • HOUSTON, Aug 7- Oil prices tumbled more than 4% on Wednesday to a seven-month low, extending recent heavy losses following a surprise build in U.S. crude stockpiles and fears that demand will shrink due to Washington's escalating trade war with Beijing. Brent crude futures were down $2.52, or 4.3%, at $56.42 a barrel by 11:57 a.m. CDT, setting a seven-month low.

  • CHICAGO, Aug 7- The U.S. Federal Reserve has eased policy substantially since late last year, but sluggish inflation and concerns over the trade outlook could mean more interest rate cuts are needed, Chicago Fed President Charles Evans said on Wednesday. But the economy, though fundamentally "good," faces more risks than just inflation that is too low, he said,...

  • *Market weighs Midwest weather, awaits USDA Aug. 12 data. CHICAGO, Aug 7- U.S. corn and soybean futures dipped on Wednesday as traders assessed rain forecasts for the U.S. Grain futures markets "are basically responding to the macros of the day, with the currencies weak against the dollar and the stock market down," said Charlie Sernatinger, global head of grain futures...

  • CHICAGO, Aug 7- The U.S. Federal Reserve has eased policy substantially since late last year, but more interest rate cuts may be needed to offset not just sluggish inflation but also headwinds to growth from trade-related uncertainty, Chicago Fed President Charles Evans said on Wednesday. "You could take the view, as I have, that inflation alone would call for more...

  • PARIS/ SYDNEY, Aug 7- U.S. corn and soybean futures edged higher on Wednesday as traders assessed rain forecasts for the Midwest after a recent dry spell, while looking ahead to a government report expected to revise acreage estimates following rain-hit planting in spring. "Some U.S. corn regions are returning to a drier weather pattern over the next week or so," said...

  • NEW YORK/ PARIS, Aug 6- Barneys New York Inc filed for bankruptcy protection on Tuesday and put itself up for sale, pushed to the brink by falling revenue and soaring rent at its stores that caused many vendors to effectively stop shipping merchandise to the luxury department store chain. "We do not have a white knight as we stand here right now," said Joshua Sussberg, a...

  • CHICAGO, Aug 6- Chicago Mercantile Exchange lean hog futures fell sharply on Tuesday as growing tensions between Washington and Beijing fueled worries about U.S. pork exports. China, the world's largest hog and pork market, has threatened to halt all purchases of U.S. agricultural products after U.S. China had been expected to ramp up pork imports this year,...

  • Aug 6- U.S. department store operator and fashionista favorite Barneys New York Inc filed for bankruptcy protection on Tuesday and put itself up for sale, underscoring how even luxury retailers are struggling to freshen their image and compete with online rivals. The nearly century-old chain, best known for swanky shop windows on New York's Madison Avenue,...

  • SAO PAULO, Aug 6- Brazil's new soybean crop, which farmers are expected to start planting next month, is seen reaching 36.7 million hectares, an area 2.3% larger than seen in the previous crop, according to the average forecast from a poll of analysts. Analysts said expansion of soy planting will probably be limited by China's swine flu outbreak, lower global soy...

  • Aug 6- Sprint Corp said on Tuesday it would launch a 5 G smartphone made by OnePlus, becoming the second U.S. wireless carrier after T-Mobile to offer a cellphone made by the Chinese company. Sprint, whose 5 G service is priced at $80 per month, is already offering 5 G smartphones from Taiwan's HTC and South Korean mobile makers, Samsung Electronics Co Ltd and LG...