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.
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
The exchange-cleared swaps will include corn, wheat,
soybeans, soyoil, soymeal, live cattle and lean hogs.
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.
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
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.
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.
MINNEAPOLIS (Reuters) – A quiet street in an American city a thousand of miles from the nearest ocean is an unlikely battleground in the world’s fish trade.
But that is exactly what Brent Casper likes about it.
“People think you throw a line in the lake and pull up a walleye in Minnesota. But the majority of what we buy is being shopped for aggressively by all the countries of the world,” said Casper, who founded his trading company, The Fish Guys, here in 1993 to buy and sell wholesale seafood.
CHICAGO, March 24 (Reuters) – U.S. commercial banks are
keeping credit standards elevated for farmers wanting loans to
grow crops and raise livestock this year after loan repayment
worsened in 2009 and delinquency rates rose, the Kansas City
Federal Reserve said on Wednesday.
The government’s outlook for farm income to rebound in 2010
should improve farmers’ access to credit as the year
progresses, the Fed said. The exception will be big livestock
operations burdened with heavy debt after a disastrous 2009.
CHICAGO (Reuters) – U.S. farmers, encouraged by lower fertilizer costs, will plant more acres to corn this spring than a year ago, while soy seedings will remain around the same as in 2009, grain analysts told the Reuters Food and Agriculture Summit in Chicago on Tuesday.
U.S. 2010 corn plantings were projected at 89.3 million to 91 million acres and soybeans at 76.5 million to 78.7 million acres. Last year, U.S. farmers produced record corn and soybean crops based on planted acreage of 86.5 million corn acres and 77.5 million soy acres.
CHICAGO (Reuters) – Low-quality corn from last year’s wet U.S. harvest has not affected Cargill’s food products and the quality of corn arriving this spring was not deteriorating compared with last autumn, the head of Cargill North American corn milling said on Monday.
“There were some quality issues but none of which has any impact whatsoever on our food products. So the food products we are producing are 100 percent safe,” Alan Willits said at the Reuters Food and Agriculture Summit in Chicago.
CHICAGO, Feb 12 (Reuters) – Farmland values in the U.S.
central Plains rose 2 percent in the fourth quarter of 2009 as
crop prices climbed while ranchland values fell with livestock
markets, the Federal Reserve Bank of Kansas City said Friday.
The Fed’s tenth district is a leading U.S. producer of
cattle and wheat, corn and other top row crops. It stretches
across Colorado, Kansas, Nebraska, Oklahoma, Wyoming and parts
of New Mexico and Missouri. So land values, the main collateral
for most farm loans, are widely watched as an economic gauge.