Christine's Feed
Oct 12, 2010

Cargill earnings rise, Mosaic stake lifts

CHICAGO (Reuters) – U.S. agribusiness and trading giant Cargill Inc CARG.UL said quarterly earnings rose 68 percent, boosted by its majority stake in fertilizer maker Mosaic Co (MOS.N: Quote, Profile, Research, Stock Buzz) and its food and trading sectors.

Minneapolis-based Cargill, one of the world’s largest privately held corporations, reported net earnings of $883 million for the quarter that ended August 31, from $525 million a year earlier.

Sep 29, 2010

Big Cargill corn plant feeds green economy

BLAIR, Nebraska (Reuters) – From the road, an hour north of Omaha, the giant industrial plant looks like a typical oil refinery, sprawling over more than 600 acres with massive storage drums, miles of piping, clouds of steam and exhaust.

But this refinery is tied more to corn oil than crude oil.

It also presents visitors with an intriguing glimpse into what boosters like President Barack Obama call “the green economy,” an industrial base centered on renewable resources like crops and on products like ethanol and biofuels.

Sep 2, 2010

Grains analyst Rich Feltes moves to RJ O’Brien

CHICAGO, Sept 2 (Reuters) – RJ O’Brien, the largest
independent U.S. brokerage, announced on Thursday that top
grains analyst Rich Feltes will join the firm as vice president
of research beginning Sept. 30.

Feltes, 61, who served as senior vice president and
director of commodity research at MF Global (MF.N: Quote, Profile, Research, Stock Buzz), the world’s
largest futures retail broker, left that company this week.

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.

    • 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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