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Mar 26, 2013

Monsanto, DuPont settle antitrust, patent lawsuits, set new deal

March 26 (Reuters) – Monsanto Co and DuPont
have settled a bitter legal battle over rights to technology for
genetically modified seeds and will drop antitrust and patent
lawsuits against each other in U.S. federal court, the companies
said on Tuesday.

The deal tosses out a $1 billion verdict that DuPont owed
Monsanto. Instead, it calls for DuPont to make at least $1.75
billion in royalty payments over several years while giving its
Pioneer agricultural seeds unit broad access to develop products
using Monsanto’s leading genetic technology.

Mar 21, 2013

Groups sue EPA over honey bee deaths, blame some insecticides

March 21 (Reuters) – U.S. environmental regulators are
failing to protect honey bees and their role in pollinating
important food crops, and should immediately suspend use of some
toxic insecticides tied to the widespread deaths of the bees, a
lawsuit filed on Thursday charges.

“It is a catastrophe in progress,” said migratory bee keeper
Steve Ellis who maintains 2,000 bee hives for pollinating crops
from Minnesota to California. “We have an ongoing problem that
is worsening.”

Mar 12, 2013

Ethanol RIN values fall after rapid run higher

March 12 (Reuters) – U.S. ethanol blending credits, known as
RINs, took a volatile ride on Tuesday, losing nearly half their
value in early trading but later staging a swift partial
recovery.

The 2013 “vintage” ethanol RINs were trading around 90-92
cents per gallon Tuesday afternoon after trading in the mid-60s
to 70-cent range earlier, trading sources said. On Monday, the
blending credits for 2013 were trading between $1.05 and $1.13,
well up from the mid-20 cents at the end of January.

Mar 5, 2013

Flour power:ConAgra, Cargill, CHS to create mega-miller

March 5 (Reuters) – Giant U.S. food and grain-handling
companies ConAgra Foods Inc, Cargill and CHS
Inc plan to combine their North American flour milling
businesses into a new venture that would control more than a
third of U.S. capacity, dwarfing all competitors in size and
market reach.

Dubbed Ardent Mills, the operation would encompass 44 flour
mills with locations coast to coast, from California to
Massachusetts as well as bakery mix and specialty bakery
facilities, with footholds in Canada and Puerto Rico.

Mar 5, 2013

Flour power: ConAgra, Cargill and CHS combine milling

March 5 (Reuters) – Giant U.S. food and grain-handling
companies ConAgra Foods Inc, Cargill and CHS
Inc on Tuesday said they plan to combine their North
American flour milling businesses into a new company called
Ardent Mills.

The venture, which the companies expect to launch later this
year, encompasses 44 flour mills, three bakery mix facilities
and a specialty bakery, with locations in the United States,
Canada and Puerto Rico.

Mar 1, 2013

US animal rights groups: ‘Nay’ to horse slaughter plan

March 1 (Reuters) – Animal rights groups are threatening to
sue the U.S. government if officials move ahead with plans to
allow meat-packing companies to resume the slaughter of horses
for human consumption, a practice that was banned in 2006.

“It’s a big fight,” said Wayne Pacelle, president of the
Humane Society of the United States. “We will sue if we have to.
We’re also working with Congress to stop this.”

Feb 26, 2013

DuPont Pioneer eyes biotech wheat as part of long-term growth

Feb 26 (Reuters) – DuPont is expanding its pipeline of new
products under development to include the potential for a
biotech wheat, a company official said on Tuesday.

DuPont and its Pioneer Hi-Bred agricultural seed unit
said a hybrid wheat technology project has been added to its
roster of crop research programs that are advancing into deeper
development. DuPont currently is largely focused on genetic
improvements to corn and soybeans, as well as enhanced canola
and rice.

Feb 25, 2013

Dog food recall underscores toxic danger in drought-hit U.S. corn

Feb 25 (Reuters) – High levels of a dangerous toxin found in
bagged dog food on a grocery store shelf in Iowa have
highlighted the prevalence of a problematic mold in last year’s
U.S. corn crop, as state and federal officials work on limiting
the food safety concern.

“Last year’s corn crop – it is a huge issue. We test every
load coming in. And we reject a lot of loads,” said Michael
Wright, chief executive officer of Pro-Pet, an Ohio-based pet
food manufacturer that learned last week some of its product was
tainted with aflatoxin, a naturally occurring poison that can
cause serious illness or even death if consumed.

Feb 21, 2013

U.S. ag lender CoBank profit climbs

Feb 21 (Reuters) – CoBank, a major lender to U.S.
agriculture through its role in the U.S. Farm Credit System,
reported higher quarterly earnings and its 13th consecutive year
of profit gains on Thursday, but warned 2013 would be a more
daunting year.

Denver-based CoBank, a $92 billion co-op bank and member of
the Farm Credit System, said net profit for the fourth quarter
rose 7 percent to $153.4 million for the quarter ended December
31, and year-end income climbed 21 percent to $853.9 million.

Feb 21, 2013

Drought-weary wheat farmers welcome blast of snow in U.S. Plains

KANSAS CITY, Feb 21 (Reuters) – The heavy winter snowstorm
sweeping across the U.S. midsection was a welcomed event for
U.S. winter wheat farmers worried that their drought-stricken
fields were too parched to produce a healthy crop this year.

Nearly a foot or more of snow fell across key growing areas
in Oklahoma and Kansas in the last 24 hours, and more was
coming.

    • About Carey

      "Generalist/Commodities, with responsibilities for coverage of agricultural markets, issues and companies, including Monsanto and DuPont; as well as general and political news; and equities coverage of trucking and rail companies. Provide backstop for Treasury as needed."
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