DES MOINES, Iowa, Oct 12 (Reuters) – Global agricultural
productivity is rising but more effort is needed to meet the
world’s long-term food needs, a group of agribusiness leaders
advised on Wednesday.
“While the new evidence of faster productivity growth for
this year is welcome, it does not alleviate the concern or
urgency about addressing the pace of agricultural development
in parts of the world where much of the population increase
will take place, especially Sub-Saharan Africa,” the group,
called the Global Harvest Initiative (GHI), said.
CHICAGO (Reuters) – CME Group (CME.O: Quote, Profile, Research, Stock Buzz) is celebrating the one-year anniversary of a controversial storage scheme for its benchmark wheat futures contract by saying it has fixed a long-standing problem on futures deliveries.
Traders, however, remain far from convinced.
Arguing that the cure has been worse than the disease, the traders say that by tweaking the century-old contract to artificially engineer “convergence” in the spot or first-delivery month — the critical coming-together of cash and futures prices during futures delivery — CME has drained liquidity and raised risk.
CHICAGO (Reuters) – It can’t happen here, can it?
The United States, the breadbasket and supplier of last resort for a hungry world, has been such an amazing food producer in the last half-century that most Americans take for granted annual bounteous harvests of grain, meat, dairy, fruits, vegetables and other crops.
When horrific images of drought or famine in Africa, Asia or other regions land in American media, America is usually first in line with food aid shipments, air drops, and other rescue efforts from its seemingly endless stores.
CHICAGO (Reuters) – Major U.S. grain companies have tightened curbs on genetically modified grains not yet approved by foreign markets, with some singling out one popular corn variety made by Syngenta, fearing any trace of the biotech grain in shipments could shut off export markets.
The action was taken just weeks before the U.S. corn harvest, when this variety of corn could enter market channels.
CHICAGO, Sept 1 (Reuters) – Major U.S. grain companies have
tightened curbs on genetically modified grains not yet approved
by foreign markets, with some singling out one popular corn
variety made by Syngenta (SYNN.VX: Quote, Profile, Research, Stock Buzz), fearing any trace of the
biotech grain in shipments could shut off export markets.
The action was taken just weeks before the U.S. corn
harvest, when this variety of corn could enter market
CHICAGO, Sept 1 (Reuters) – U.S. agribusiness giant Cargill
[CARG.UL] said on Thursday it will not accept Syngenta’s
(SYNN.VX: Quote, Profile, Research, Stock Buzz) genetically modified Agrisure Viptera corn at its
North American wet milling plants until the corn variety
receives regulatory approval from the European Union.
Another major grain handler, Bunge North America (BG.N: Quote, Profile, Research, Stock Buzz),
has also barred Agrisure Viptera from its facilities, awaiting
additional export market approval, particularly from China — a
top U.S. grains and oilseed customer.
CHICAGO, Aug 26 (Reuters) – The Minneapolis Grain Exchange,
home to U.S. spring wheat futures, is betting on the demise of
the Canadian Wheat Board and trying to head off competition
from the IntercontinentalExchange (ICE.N: Quote, Profile, Research, Stock Buzz) by accepting non-U.S.
wheat for delivery against its 128-year-old contract, traders
“You’ve got a lot of eyes focused on Canada with the
potential of the Canadian Wheat Board going away. With that,
you’re going to open up a lot more commercial trade,” said
Scott Cordes of grain brokerage Country Hedging and a member of
the MGEX board of directors.
CHICAGO (Reuters) – The overall economy may be struggling against a double-dip recession but in farm country the boom times have rarely been better.
Farmland prices are setting records and farmer incomes have been buoyed by exports and biofuels, easing the pain of some rough summer weather from drought, floods and fires.
CHICAGO (Reuters) – Prices for farmland in the heart of the U.S. grain belt were up 17 percent in the second quarter compared to a year ago, the biggest jump since 1977, the Federal Reserve Bank of Chicago said on Wednesday.
The rising values were driven by strong crop, livestock and milk prices which spurred farmers and investors to buy land, the bank said. Low interest rates have also boosted demand.
LONDON/CHICAGO (Reuters) – Agribusiness giant Cargill CARG.UL will buy animal feeds producer Provimi from private equity firm Permira for 1.5 billion euros ($2.1 billion), the companies said on Monday.
The acquisition by one of the world’s largest privately owned corporations will solidify Cargill’s dominant position in the animal nutrition business.