Christine's Feed
Aug 17, 2010

Cargill quarterly earnings more than double

CHICAGO (Reuters) – Agribusiness and trading giant Cargill Inc CARG.UL said quarterly earnings more than doubled, with all five of its main global business segments posting profits.

Minneapolis-based Cargill, one of the world’s largest privately held corporations, reported net earnings of $691 million for the fiscal fourth quarter ended May 31, up from $327 million a year earlier.

Jun 20, 2010

Grains Week Ahead-Yuan move welcome, but all eyes on weather

CHICAGO, June 20 (Reuters) – China’s surprising move over
the weekend signaling a new willingness to let its currency
gain strength may give grain prices an initial boost this week,
but recent adverse weather for world crops will be more
important.

“I, and a few other commercials, see the news as mildly
supportive. More important may be how the external commodity
markets react to the news,” said Dan Basse, president of grain
and livestock industry consultant AgResource in Chicago.

Jun 15, 2010

CBOT oats surge 40 pct in a week on Canada crop

CHICAGO, June 15 (Reuters) – Usually sleepy oats futures
have staged a ferocious rally in the latest week, for their
biggest price jump in nearly a decade, as worries have mounted
about a short crop in Canada, the largest supplier of U.S. oat
imports.

“The oat market is up 40 percent in a week — it is the hot
commodity globally right now,” said Rich Feltes, senior vice
president of MF Global Research in Chicago.

Jun 11, 2010

U.S. farm bankers nervous about bullish outlook

KANSAS CITY, June 11 (Reuters) – U.S. farmland prices have
been firming as China’s heavy purchases of the country’s farm
exports have fueled a boom in agriculture.

Still, many veteran U.S. farm lenders are nervous about
agriculture’s historical tendency to boom-and-bust cycles.

Jun 9, 2010

Economist says oil spill helps renewable fuels

KANSAS CITY (Reuters) – Renewable fuels like corn-based ethanol will get a boost as the massive oil spill in the Gulf of Mexico feeds worries by Americans about long-term dependence on oil, a top U.S. private agricultural economist said on Tuesday.

“The spill has heightened the concern about our dependence on fossil fuels so that quite naturally is causing people to want us to reduce our dependence on fossil fuels. That brings us to renewables,” JB Penn, chief economist at farm equipment maker John Deere, said in an interview on the sidelines at a Kansas City Federal Reserve ag banking meeting.

Jun 9, 2010

Deere economist says oil spill helps renewables

KANSAS CITY, June 8 (Reuters) – Renewable fuels like
corn-based ethanol will get a boost as the massive oil spill in
the Gulf of Mexico feeds worries by Americans about long-term
dependence on oil, a top U.S. private agricultural economist
said on Tuesday.

“The spill has heightened the concern about our dependence
on fossil fuels so that quite naturally is causing people to
want us to reduce our dependence on fossil fuels. That brings
us to renewables,” JB Penn, chief economist at farm equipment
maker John Deere (D.N: Quote, Profile, Research), said in an interview on the sidelines
at a Kansas City Federal Reserve ag banking meeting.

May 5, 2010

CME asks CFTC to clear 12 new ag swap contracts

CHICAGO, May 5 (Reuters) – The CME Group <CME.O>, the
world’s largest futures exchange, said Wednesday it submitted a
request to the Commodity Futures Trading Commission to provide
clearing services for 12 agricultural over-the-counter swap
contracts.

The exchange-cleared swaps will include corn, wheat,
soybeans, soyoil, soymeal, live cattle and lean hogs.

May 3, 2010

U.S. farm managers buoyed by Baby Boom, land values

OMAHA, Nebraska (Reuters) – Jim Farrell doesn’t look like a typical tractor-driving farmer. But he doesn’t look like a Wall Street titan, either. Maybe he’s a little of both.

Relaxing in his suburban office nestled in the agricultural U.S. heartland, Farrell sketches his job as the single largest professional manager of farms in the United States.

Apr 29, 2010

Saudia Arabia eyes U.S. for ag investing, contracts

CHICAGO, April 29 (Reuters) – Saudi Arabian investors are
looking to expand their agricultural investments in the United
States to secure long-term food supply because of water
shortages in the desert kingdom, Saudi officials said on
Thursday.

Investments could range from buying crop land, obtaining
long-term land leases of 30 years or more, taking equity stakes
in major food companies or contracting directly with farmers to
grow crops, they said.

Apr 13, 2010

Cargill profits more than double; broad growth

CHICAGO (Reuters) – U.S. agribusiness and trading giant Cargill Inc <CARG.UL> said on Tuesday quarterly earnings more than doubled, with all five of its business segments posting improved results from a year ago.

Minneapolis-based Cargill reported earnings from continuing operations of $729 million for the third quarter that ended February 28. The company also realized a $169 million net gain from discontinued operations due to the sale of its Brazilian poultry and pork business.

    • About Christine

      "As community editor for Thomson Reuters global on-line chatroom for grains traders and analysts, the Global Ags Forum, I lead chats on the latest factors driving grains and oilseeds markets worldwide, organize chat events with expert industry sources and promote the room to potential market players. Based in Chicago, I also report on U.S. cash and futures grains and oilseeds markets."
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