CHICAGO (Reuters) – Agricultural bankers and other big players in the world grain markets say fallout from the collapse of giant broker MF Global is changing cash grain trading and fueling calls for alternatives and reforms.
Trading changes include more “back to back” transactions and more direct contracting by farmers to end users, eliminating middlemen like MF Global, merchandisers say.
CHICAGO, Dec 13 (Reuters) – Distributing biotech seeds to
American farmers before they are approved in major grain export
markets is not good for U.S. agriculture, an executive with
agribusiness giant Cargill Incsaid on Tuesday.
“We do not support the commercialization of GM traits ahead
of major market approvals,” Randal Giroux, vice president of
food safety for Cargill, told the members of the National Grain
and Feed Association, the largest U.S. grain group, at a
CHICAGO, Dec 7 (Reuters) – U.S. agribusiness giant Cargill
Incsaid it was voluntarily recalling a year’s output
of dog food made for its brands River Run and Marksman due to
high levels of aflatoxin.
It was the second recall of pet food this week due to
At Cargill, the dog food was manufactured at its Lecompte,
Louisiana, plant from Dec. 1, 2010, to Dec. 1, 2011 and
distributed in 13 states and two territories: Kansas, Missouri,
Oklahoma, Arkansas, Louisiana, Mississippi, Tennessee,
Kentucky, Indiana, Illinois, Hawaii, Florida, California, Guam,
the U.S. Virgin Islands, Cargill said in a statement.
CHICAGO, Dec 5 (Reuters) – The decision by commodities
giant Cargill Incto cut about 2,000 employees from
its global payrolls was prudent given world growth prospects, a
Fitch Ratings analyst said on Monday.
“They were probably looking at their overall business with
weaker performance in the first quarter and the slowing
economy, it just makes sense,” said Judi Rossetti, analyst with
CHICAGO, Dec 2 (Reuters) – The boom times for U.S.
agriculture in 2011 have focused on soaring land and crop
prices, bumper harvests and biofuels, but a recent deal has
spotlighted a quiet industry that’s booming: grain storage.
CHICAGO (Reuters) – Grain farmers in the Midwest may want to pinch themselves.
In recent years they have been buoyed by a dream scenario. Record high prices. Record high profits. Record high farmland values. Near record production. Farm debts paid off.
KANSAS CITY/CHICAGO (Reuters) – U.S. farmland prices in the third quarter saw their biggest surge in over three decades in an accelerating agricultural boom that has so far defied fears of a bubble about to burst.
Prices hit record highs in the U.S. Plains, where wheat and cattle dominate production, and jumped 25 percent in the Midwest Corn Belt where bumper grain crops and recovering livestock markets put more money in farmers’ wallets and enticed investors to bid up for the fertile ground, according to two Federal Reserve bank surveys issued on Tuesday.
CHICAGO, Nov 11 (Reuters) – A new study of pricing and
storage problems with Chicago Board of Trade wheat futures
concludes that “fixes” aren’t working and the problems may be a
threat to the long-term health of CBOT grain markets.
“If non-convergence were to persist, there would be
potential for a competing set of futures contracts that
enforces convergence to replace the current CBOT and KCBOT
(Kansas City Board of Trade) contracts,” the study says.
INDIANAPOLIS (Reuters) – Agricultural bankers and advisers say the bankruptcy of giant futures brokerage MF Global has shaken the farm world’s opinion of futures trading and action must be taken to restore confidence in the system.
Lenders, farmers and farm advisers at the annual meeting of the North American Agricultural Bankers Association here said they were not shocked that a firm like MF Global could run aground trading its own money in volatile world markets.
CHICAGO (Reuters) – Crop scientists in the United States, the world’s largest food exporter, are pondering an odd question: could the danger of global warming really be the heat?
For years, as scientists have assembled data on climate change and pointed with concern at melting glaciers and other visible changes in the life-giving water cycle, the impact on seasonal rains and irrigation has worried crop watchers most.