TOP STORIES

 
McDonald's Deal Could Tackle Slow Drive-Thrus -- Market Talk 

11:04 ET - McDonald's new digital menus being built by startup Dynamic Yield could help with the chain's creeping drive-thru wait times, the burger-giant hopes. The digital screens made by the Israeli startup aim to track wait times at restaurants and suggest menu items that are easier for staff to make. Drive-thru waits have crept up for the last five years at McDonald's, and executives said earlier this month that they are focusing on curbing them. McDonald's shares rise 1.4% after The Wall Street Journal reported news of the roughly $300 million deal late Monday. (heather.haddon@wsj.com; @heatherhaddon)

STORIES OF INTEREST

 
China Targets Canadian Glencore Unit in Canola Crackdown 

OTTAWA -- China has revoked the permit for a second Canadian grain handler to ship canola seed into the world's second-largest economy, reinforcing fears among grain growers that they have become collateral damage in the diplomatic dispute between Ottawa and Beijing over a detained Huawei executive. Chinese customs authorities posted a notice online Tuesday indicating that they had revoked the export license held by Viterra Inc., a unit of Glencore PLC, citing the discovery of pests in canola-seed shipments that arrived in the Chinese cities of Dalian and Nanning. The suspension is required "to prevent the introduction of harmful organisms" into the country, the notice added.

 
Congress Looking at Changes to Chapter 12 Bankruptcy to Aid Farmers -- CNBC 

U.S. lawmakers are considering changes to chapter 12 bankruptcy, which allows owners of family farmers to continue operating while they restructure their debts, CNBC reported Tuesday. Experts have suggested the size of the average family farm has grown and the debt amounts handled under chapter 12 haven't kept up, the report said.

 
USDA Investing in Rural Wastewater Infrastructure -- Market Talk 

12:35 ET - The USDA says that it is investing $116M into rebuilding and improving wastewater infrastructure in rural areas in 23 states, which will affect 171,000 rural Americans. According to the USDA, the investment will allow farmers to develop their operations further, where availability of modern water systems were limited. The investment is in reaction to the findings of a task force established by President Trump, which identified legislative changes that could help spur prosperity in rural communities. Agricultural futures on the CBOT are largely down today, with the exception of wheat, which is up 0.5%. Soybean futures are down 0.6%, and corn futures are down 0.5%. (kirk.maltais@wsj.com; @kirkmaltais)

FUTURES MARKETS

 
Pork Futures Finish Lower Despite Reports of More Chinese Purchases 

Hog futures on the CME finished slightly lower Tuesday, but traders see that as a temporary dip with indications of more Chinese pork purchases soon to come. The June lean hog contract finished the session trading down 0.2% at 95.325 cents a pound. Meanwhile, the front-month contract finished up 1%, or nearly a cent, at 79.475 cents per pound.

CASH MARKETS

 
Estimated U.S. Pork Packer Margin Index - Mar 26 
 
This report reflects U.S. pork packer processing margins. The margin indices 
are calculated using current cash hog or carcass values and wholesale pork 
cutout values and may not reflect actual margins at the plants. These 
estimates reflect the general health of the industry and are not meant to 
be indicative of any particular company or plant. 
Source: USDA, based on Wall Street Journal calculations 
All figures are on a per-head basis. 
 
Date     Standard Margin       Estimated margin 
         Operating Index         at vertically - 
                             integrated operations 
Mar 26       +$  5.42            +$ 37.61 
Mar 25       +$ 10.94            +$ 35.16 
Mar 22       +$ 11.24            +$ 31.78 
Mar 21       +$ 14.04            +$ 27.46 
 
* Based on Iowa State University's latest estimated cost of production. 
A positive number indicates a processing margin above the cost of 
production of the animals. 
 
Beef-O-Meter 
This report compares the USDA's latest beef carcass composite 
values as a percentage of their respective year-ago prices. 
 
                                 Beef 
          For Today             Choice  103.1 
      (Percent of Year-Ago)     Select  101.6 
 
USDA Boxed Beef, Pork Reports 

Wholesale choice-grade beef prices Tuesday rose 51 cents per hundred pounds, to $229.51, according to the USDA. Select-grade prices rose 26 cents per hundred pounds, to $218.99. The total load count was 120. Wholesale pork prices rose $1.14, to $79.23 a hundred pounds, based on Omaha, Neb., price quotes.

(END) Dow Jones Newswires

March 26, 2019 17:30 ET (21:30 GMT)