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.
CHICAGO, Aug 9 (Reuters) – Giant U.S. agribusiness and
trading firm Cargill Inc [CARG.UL] said earnings fell 7 percent
in its fiscal fourth quarter, hit by volatile energy markets
and weaker risk management and food ingredient results.
Minneapolis-based Cargill, one of the world’s largest
privately held corporations, reported $404 million in earnings
from continuing operations in the quarter ended on May 31,
compared with $435 million a year earlier.
CHICAGO (Reuters) – Agriculture is poised to drive economic growth and job creation led by the dynamic north central region but proposed budget cuts may threaten that outlook, a study by an Ohio-based research firm said.
“Cuts are proposed in forthcoming budgets: cuts that will ripple through a system that leverages federal funding with state and local matching financial support,” Battelle, a Columbus, Ohio, research group, said in the study.
CHICAGO (Reuters) – Rich countries grabbing farmland in Africa to feed their growing populations can leave rural populations there without land or jobs and make the continent’s hunger problem more severe, an environmental think tank said on Tuesday.
The trend is accelerating as wealthier countries in the Middle East and Asia, particularly China, seek new land to plant crops, lacking enough fertile ground to meet their own food needs, Washington DC-based Worldwatch Institute said.
KANSAS CITY, Missouri (Reuters) – Soaring farmland values in the past year are causing worries among agricultural bankers that a farmland “bubble” may be brewing similar to one that triggered the farm crisis of the 1980s.
But the fears are tempered by a healthy agricultural economy. Farmers have used record incomes as commodity prices spiked to reduce debt, upgrade equipment — and buy land.