Christine's Feed
Jan 28, 2013

ICE’s CEO says has fielded calls about selling Euronext

MIAMI BEACH, Florida (Reuters) – IntercontinentalExchange Inc (ICE.N: Quote, Profile, Research, Stock Buzz) has received inquiries from rivals interested in buying NYSE Euronext’s (NYX.N: Quote, Profile, Research, Stock Buzz) European stock exchanges once ICE completes its planned purchase of the New York-based exchange operator, ICE’s chief executive said on Monday.

Jeff Sprecher, whose $8.2 billion deal to buy the Big Board parent took markets by surprise in late 2012, said he is not considering any offers.

Jan 17, 2013

Cargill to shut Texas beef plant as cattle herd shrinks

CHICAGO, Jan 17 (Reuters) – U.S. agribusiness giant Cargill
Inc, and one of the nation’s largest beef processors,
said on Thursday it will close its Plainview, Texas, beef plant
on Feb. 1 in reaction to the smallest U.S. cattle supply in more
than 60 years.

“The U.S. cattle herd is at its lowest level since 1952.
Increased feed costs resulting from the prolonged drought,
combined with herd liquidations by cattle ranchers, are severely
and adversely contributing to the challenging business
conditions we face as an industry,” John Keating, president of
Cargill Beef, said in a statement.

Jan 9, 2013

Cargill profit quadruples, led by grain sector

CHICAGO, Jan 9 (Reuters) – U.S. agribusiness giant Cargill
Inc reported a four-fold increase in quarterly
earnings on Wednesday, tapping its global command of cash
markets and food processing and posting strong profits from
trading operations after a poor performance a year ago.

The strong results came as the United States, the world’s
top food producer and exporter, struggled with the consequences
of its worst drought in more than 50 years. Commodity prices
rose and fell sharply during the August-November quarter as
fears of crop losses gripped the markets.

Jan 4, 2013

U.S. Corn Belt crop experts: pray for snow

CHICAGO, Jan 4 (Reuters) – The U.S. Corn Belt – the world’s
top grain region – is seeing another dry winter after the worst
summer drought in half a century, reducing prospects for a
bumper summer harvest that would help ease global food prices,
crop and climate experts said.

“We are still concerned about getting the leftovers out of
the way from the drought of 2012. At this time we would not
anticipate a national corn yield above the trend,” said Iowa
State University climatologist Elwynn Taylor, who has studied
crop production for decades. “Rather, we would expect a fourth
consecutive year of below-trend crop, not as far below as in
2012 but still not up to par.”

Dec 11, 2012

Iowa farmland prices set record high in 2012, ignore drought

CHICAGO, Dec 11 (Reuters) – Red-hot demand for farmland in
the top U.S. corn-growing state of Iowa drove prices to record
highs in 2012, buoyed by demand from cash-rich farmers and
ignoring the worst U.S. drought in the last 50 years.

The average price of Iowa farmland was $8,296 an acre – an
all-time high – a 23.7 percent rise from a year ago, according
to the Iowa Land Value survey of 486 real-estate brokers and
other market participants compiled by Iowa State University.
That surpassed the previous record of $6,708 set in 2011. The
gains also mark the third year in a row where values rose more
than 15 percent.

Dec 5, 2012

Iowa State climate expert sees lower corn yields 2013

CHICAGO, Dec 5 (Reuters) – A top Iowa State University
agricultural scientist predicted on Wednesday that the United
States would see below-trend yields for a fourth straight year
in 2013 and spotlighted long-term climate risks for farmers in
the years ahead.

“It’s looking likely that we will have a fourth year of
below-trend U.S. corn yields. But not as bad as in 2012, but
still below trend,” Elwynn Taylor, Iowa State University
climatologist, told Reuters Ag Forum, an on-line chatroom.

Nov 28, 2012

Biggest risk to farmers: high input costs, not land

CHICAGO (Reuters) – Soaring farm operating costs, not record high land values feared by economists of possibly causing a repeat of the 1980s farm crisis, pose the greatest risk to U.S. farmers, the head of the country’s largest farm management company said on Tuesday.

CEO of Farmers National Company, Jim Farrell, told Reuters steep increases in cost of fertilizer, seed, fuel and machinery are the main concerns for farmers.

Nov 19, 2012

High speed traders jolt U.S. grain trade

CHICAGO, Nov 19 (Reuters) – The U.S. grain industry says
high speed computerized traders are disrupting their markets,
but grain exchanges and regulators have no quick fix for the
concerns, according to grain industry officials and traders.

The dispute, which pits grain companies at the Chicago Board
of Trade against speculators armed with algorithms and superfast
data feeds, echoes protests seen in world stock markets in
recent years as old-fashioned arm-waving traders have been
replaced by electronic matching of bids and offers on screens.

Nov 15, 2012

US farmland prices stay strong despite drought

CHICAGO, Nov 15 (Reuters) – Farmland prices in the United
States, the world’s largest grain and food exporter, stayed
strong in the third quarter as cash-rich farmers and investors
ignored the worst drought in 50 years and pushed values to
record highs in many areas.

Quarterly surveys by Federal Reserve banks in the Midwest,
Plains and mid-South showed that grain farmers, though hit hard,
did much better than livestock and dairy operators in coping
with the drought, thanks to extensive crop insurance. Growers
continue to buy and rent more land, with record corn and soybean
prices seen staying as key drivers in 2013.

Nov 15, 2012

Plains farmland prices set record but gains slow

CHICAGO (Reuters) – Average farmland prices in the Plains states jumped as much as 25 percent in the third quarter, setting new highs as demand remained strong, the Kansas City Federal Reserve said on Thursday.

But the rate of gains slowed down from the torrid pace of the past two years, the Kansas City Fed’s quarterly survey said.

    • 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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