MINNEAPOLIS, Nov 11 (Reuters) – The chances of the U.S.
Congress passing a five-year farm bill by year’s end are a
little better than 50/50 given the gridlock over food stamps for
the poor, a top farm policy expert said on Monday.
“There is a slightly better chance than 50/50 that we will
get a bill rolled into a budget at the end of the year. But it’s
no better than that,” Barry Flinchbaugh, a Kansas State
University agricultural economist who advises legislators
shaping the U.S. farm bill, told Reuters on the sidelines of a
farm bankers meeting in Minneapolis.
CHICAGO, Nov 4 (Reuters) – U.S. ethanol plants that have
been shut for as many as five years are now coming back online
as a record U.S. harvest has pushed down corn prices and
improved profit margins for makers of the biofuel.
Agribusiness giant Cargill Inc on Monday said it
restarted a plant in Fort Dodge, Iowa, that the company
purchased in 2011 from corn processor Tate & Lyle.
CHICAGO, Nov 4 (Reuters) – U.S. agribusiness giant Cargill
Inc said on Monday it expanded its corn-based ethanol
business by opening a plant in Fort Dodge, Iowa, with the
capacity to grind 150,000 bushels of corn daily.
Cargill, one of the top 10 U.S. ethanol producers according
to the Renewable Fuels Association, purchased the plant from
corn processor Tate & Lyle in 2011 and has spent the past two
years retrofitting and expanding the facility.
CHICAGO (Reuters) – Two years ago on Halloween thousands of U.S. grain farmers got the scare of their lives when broker MF Global collapsed and more than a billion dollars of their money went missing.
MF Global customers have now, through a court-appointed trustee, recovered about 98 percent of the money, which had been in supposedly “safe” margin accounts. The balance is expected by year’s end.
CHICAGO (Reuters) – A top U.S. Agriculture Department official said key monthly U.S. crop reports will continue to be released during CME Group Inc trading hours, despite complaints from the grain industry that high-speed traders have access to the data before it becomes available on public websites.
“This business of the markets being open during the release of the reports is not going away and will stay with us for a while,” Gerald Bange, chairman of the U.S. Department of Agriculture’s World Agricultural Outlook Board, told a group of agricultural economists and traders at a meeting in Chicago on Monday.
CHICAGO (Reuters) – U.S. agribusiness conglomerate Cargill Inc CARG.UL said it will close its Lockney, Texas, feedlot next summer due to shrinking supplies of cattle and high feed costs.
The pending closure comes months after the company shut one of its Texas beef packing plants also because of fewer cattle.
CHICAGO (Reuters) – For the first time in 40 years, farmers, exporters, processors and traders will have to live without a key monthly crop report that they rely on to forecast market direction because of the U.S. government shutdown.
The U.S. Department of Agriculture report that was due to be released on Friday covers everything from the size of the U.S. corn harvest to China’s soybean imports.
CHICAGO, Oct 9 (Reuters) – U.S. agribusiness giant Cargill
Inc on Wednesday reported a 41 percent drop in
quarterly profits as the lingering effects of the 2012 severe
drought in the United States reduced grain-handling
The company struggled with razor-thin inventories in the
world’s top farm exporter, which kept grain pricey and lowered
processing volume and export demand during the summer months.
CHICAGO (Reuters) – U.S. livestock markets are reeling from this week’s disruption of data from the U.S. Department of Agriculture as the federal government shutdown drags on, while grain traders are muddling through without a key report on weekly export sales.
“It’s a bigger deal for the livestock traders as they rely on daily numbers – slaughter, wholesale pork and beef prices. On the grains, you’re missing more of the big picture,” said Don Roose, president of Des Moines-Iowa brokerage U.S. Commodities, which serves both crop and livestock customers.
CHICAGO, Sept 27 (Reuters) – The red-hot rush for U.S. grain
land is cooling after years of record prices, but prime acreage
is still attracting top dollar in the heart of the Corn Belt so
far this fall, according to land auctioneers.
“On higher quality land it’s been pretty strong steady, but
on medium and lower quality land we’ve seen some pullback,” said
Randy Hertz, CEO of Iowa-based Hertz Farm Management. “There’s a
lot of uncertainty out here in terms of what the future holds.”