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By Alice McFarlane

Agriculture Roundup

Agriculture Roundup for Tuesday February 4, 2020

Feb 4, 2020 | 3:26 PM

The grain futures are starting to show some improvement.

Senior commodity analyst with Exceed Grain Marketing Wayne Palmer said the upside potential is coming from the soybean market.

He said soybeans were up for the second day in a row after closing down nine straight days. The March futures contract lost 8.7 per cent in January which is the biggest monthly loss since June 2018.

Soybeans rallied in December and made new seasons highs at the beginning of January as the U.S. and China phase one trade deal was signed, but it was downhill for all grain prices since then.

Palmer said it started with the coronavirus outbreak in China and extended through the Lunar New Year celebrations. He said this was also followed by excellent growing and harvest weather in South America with yields near record highs.

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He added China appears to be ready to fulfill its promise to buy $40 billion worth of U.S. agricultural products each year.

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The Swine Health Information Center is exploring the use of oral fluids as a new tool to detect and manage African Swine Fever (ASF).

In an effort to assist the Vietnamese pork sector in dealing with ASF, the center is coordinating a multi-pronged collaboration focusing on monitoring.

Executive Director Dr. Paul Sundberg said only whole blood can currently be used for live animal monitoring.

He said it would be a great tool to detect and manage ASF should it get into North America.

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CN Rail conductors and yard workers have ratified a new three-year contract.

The Teamsters Canada Rail Conference (TCRC) voted 91.3 per cent in favour of the deal.

Workers will receive wage increases of 2.5 per cent, 2.5 per cent and 3 per cent each year. There is also a taxable $1,000 bonus.

TCRC said work schedules, hours of work and crew fatigue were its main concern, not wages.

The deal was reached after an eight-day strike in November that tied up grain shipments.

The new agreement remains in effect until July 22, 2022.

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alice.mcfarlane@jpbg.ca

On Twitter: @AliceMcF