Article

U.S. Beef Packer Margins Soar as Cattle Prices Fall

U.S. beef packers including Tyson Foods Inc and Cargill Inc are racking up historically high margins, thanks to slumping cattle prices amid a supply glut and as Americans turn to beef for their backyard summer barbecues.

Weekly world market rice prices - USDA

May 23 (Reuters) - The U.S. Agriculture Department's
Commodity Credit Corporation announced the following world
market prices of milled and rough rice.
The data is adjusted for U.S. milling yields and location,
and the resulting marketing loan gain (MLG) and loan deficiency
payment (LDP) rates applicable to the 2017 crop.
Rough rice prices increased $0.07 cents per cwt for long
grain and $0.08 cents per cwt for medium/short grain from the
previous announcement.
The next rice report will be issued Wednesday, May 30.

UPDATE 1-India takes U.S. steel tariffs complaint to the WTO

(Adds detail, background)

By Tom Miles

GENEVA, May 23 (Reuters) - India has launched a complaint
against the United States to challenge U.S. President Donald
Trump's tariffs on steel and aluminium, a filing published by
the World Trade Organization showed on Wednesday.

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India takes U.S. steel tariffs complaint to the WTO

GENEVA, May 23 (Reuters) - India has launched a complaint
against the United States to challenge U.S. President Donald
Trump's tariffs on steel and aluminium, a filing published by
the World Trade Organization showed on Wednesday.

Indian officials told Reuters last month that India would
open a WTO dispute if Indian firms were not exempted from the
tariffs.
(Reporting by Tom Miles
Editing by Catherine Evans)

UPDATE 1-Brazil fines 5 grain trading firms, farmers connected to deforestation

(Adds Cargill, Bunge fair comments)

By Jake Spring

BRASILIA, May 23 (Reuters) - Five grain trading houses,
including Cargill Inc and Bunge Ltd, and dozens
of farmers have been fined a total of 105.7 million reais ($29
million) for activities connected to illegal deforestation,
Brazilian authorities announced on Wednesday.

China welcomes high-quality U.S. products to enter its market

HONG KONG, May 23 (Reuters) - China welcomes high-quality
and competitive products made by the United States to enter its
market, the commerce ministry said on Wednesday.

Both China and the United States will seriously implement a
deal reached in Washington, including the purchase of farm and
and energy products, the ministry said in a statement.

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