CHICAGO, Aug 8 (Reuters) – U.S. grain shipments out of the
largest terminal in the Pacific Northwest are facing major
delays as grain inspectors remain off-site because of a labor
dispute, and concerns are growing that the backlogs will get
much worse when bumper harvests roll in.
United Grain Corp, which owns the terminal at the Port of
Vancouver, entered August with nearly 20 million bushels of
grain on the books to ship this month. That included 2.8 million
rolled over from July as it struggled to meet commitments after
state officials stopped inspecting grain on July 7.
CHICAGO (Reuters) – The biggest U.S. grain export association called on China on Thursday to rescind its latest restriction of a GMO corn strain, saying the new demand was unworkable.
Trade sources said China issued the new requirement affecting distiller’s dried grains (DDG), a popular livestock feed that is a by-product of corn ethanol manufacturing.
CHICAGO (Reuters) – CME Group (CME.O: Quote, Profile, Research, Stock Buzz) has scrutinized trading in its wheat futures contract after receiving complaints that heavy last-minute spread trading could influence a hike in storage rates, but found no evidence that was the case, its top commodities researcher told Reuters.
The current price spread between July and September wheat contracts on the world’s biggest agricultural commodities exchange is wide enough to prompt a 3-cent increase in storage rates for the first time in three years.
CHICAGO, May 15 (Reuters) – Farmland prices in the U.S.
Plains and Midwest eased along with farm income in the first
quarter of 2014 and more weakness was expected into the summer,
according to Federal Reserve Bank quarterly surveys issued on
Tighter profit margins for crop producers were a drag on
farm income in the first quarter despite improved profitability
in the livestock sector, the Kansas City Fed reported.
CHICAGO, April 28 (Reuters) – Hedge fund manager Murray
Stahl has bought 13 percent of the seats on the last independent
U.S. grain exchange, doubling prices and fueling speculation he
may want a platform to trade his fund’s products or even to cash
in on a potential takeover, industry sources said on Monday.
The Minneapolis Grain Exchange (MGEX) survived rounds of
consolidation among global exchanges that created giants like
CME Group, based in Chicago, and ICE, a network
of exchanges including the New York and Euronext stock markets.
CHICAGO, April 21 (Reuters) – A plan in the new U.S. farm
law to help dairy farmers limit losses from rising feed costs or
falling milk prices may become a model in coming years for
livestock producers who have resisted similar types of
The plan, called the Margin Protection Program, takes a page
from the popular multibillion-dollar government-backed crop
insurance programs for grain, cotton and other crops. In short,
MPP will create formulas to insure against loss of “revenue”
rather than actual loss of animals.
CHICAGO, April 2 (Reuters) – Farmland values in Iowa, the
top U.S. corn and soybean state, fell 5.4 percent over the past
six months, under pressure from lower grain prices, according to
a benchmark survey of realtors.
Still, the market remains underpinned by strong demand from
wealthy farmers and non-farming investors, said the Iowa
Realtors Land Institute survey, which is based on information
from local farm real estate brokers, lenders and others with
knowledge of land prices.
March 14 (Reuters) – Smithfield Foods Inc, the world’s
largest pork processor, suspended hog slaughter at its Tar Heel,
North Carolina, plant on Friday because of the spread of the
deadly Porcine Epidemic Diarrhea virus (PEDv) which has
tightened hog supplies, industry sources said.
The Tar Heel plant, the company’s largest pork processing
facility, reduced its slaughter schedule this week to four days
from five days, said the sources, who have knowledge of the
plant’s operations and hog purchases. They requested anonymity
because of the sensitivity of the issue.
CHICAGO, March 14 (Reuters) – U.S. farmers this week
finalized their crop insurance plans for spring planting with
critics of the government-subsidized program saying insurers are
set up for a bonanza after passage of the new five-year farm
bill last month.
Farmers who sign up for crop insurance by March 15 won’t in
fact enjoy the enhanced subsidies of the new federal law, which
go into effect with the 2015 crop year.
WASHINGTON (Reuters) – WhatsApp, the rapidly expanding mobile messaging app, suffered an outage for more than three hours on Saturday, frustrating users just days after its acquisition by Facebook for $19 billion.
“WhatsApp service has been restored. We are so sorry for the downtime…,” WhatsApp tweeted to its more than 1 million Twitter followers on Saturday around 5:48 p.m. EST (2248 GMT).