Friday, May 14, 2021 9:41AM CDT
The board of directors for Kansas City Southern railroad chose Thursday to declare the Canadian National Railway offer as a better bid than the one offered by Canadian Pacific Railway. The two Canadian firms have been locked in a bidding war for KCS. Ag shippers from the U.S. and Canada have been sending letters taking sides in the merger battle.
Thursday, May 13, 2021 5:00AM CDT
USDA officials provided an update this week on loan repayment of Farm Service Agency loans to socially disadvantaged farmers. Litigation has taken a twist as a Black farmer from Tennessee and his organization filed motions meant to block at least two federal lawsuits filed on behalf of white farmers.
July corn is up 7 1/4 cents, July soybeans are up 23 1/2 cents and July KC wheat is up 16 1/2 cents.
Feeder cattle did not quite feel the pressure of the rest of the complex due the weakness of grain futures, but Thursday was not a good day. It may be difficult to recover the losses in the near-term as traders have become increasing cautious. Futures could bounce as the reaction Thursday to the news subsides.