By Karl Plume
(Reuters) – Replenished grain supplies following a bumper North American harvest bolstered global commodities trader Cargill Inc’s [CARG.UL] bottom line in its latest quarter as lower prices lifted demand for crops and padded margins on meat sales.
Privately-held Cargill, based in Minnesota, reported net earnings of $784 million for the second quarter ended Nov. 30, up 41 percent from $556 million a year earlier. Quarterly revenue fell 8 percent to $30.3 billion from $32.9 billion.
CHICAGO (Reuters) – Armed with lessons learned from last year’s polar vortex, the U.S. transportation and shipping network faces its first big test of the winter this week as harsh cold and dangerous wind chills buffet the Plains to the East Coast.
Moving people and products has proved tedious but not impossible as upper Midwest temperatures topped out in the single digits to below zero Fahrenheit on Wednesday, with gusty winds making it feel like 20- to 40-below. Snow blanketed much of the eastern United States, with lake-enhanced accumulations of more than a foot in northwest Indiana and western New York.
CHICAGO, Jan 2 (Reuters) – U.S. soybean futures dropped to a
one-month low on Friday on technical selling and pressure from
rising global supplies as South American growers are expected to
harvest bumper crops in the coming weeks.
Technical selling also dragged corn and wheat prices to
their lowest in three weeks while a firmer U.S. dollar weighed
down grain prices in general.
CHICAGO, Dec 31 (Reuters) – U.S. soybean futures fell on
Wednesday and were set to end 2014 with their biggest loss in a
decade as bumper production in the United States and South
America replenished global supply of the protein-rich oilseed.
Corn and wheat also fell during the session and were also
poised to post an annual decline against a background of ample
worldwide supply. But a fourth-quarter rebound prompted by
concerns over Russian wheat exports and strong corn demand
limited full-year losses.
CHICAGO, Dec 30 (Reuters) – U.S. wheat futures fell on
Tuesday on profit taking and technical selling and as the
dollar’s strengthening against the euro added to
already-challenging U.S. wheat export prospects.
Corn followed wheat lower in a profit-taking setback after
the market hit a near six-month high the previous day.
CHICAGO, Dec 29 (Reuters) – U.S. corn futures declined on
Monday on technical selling and profit-taking after
stronger-than-expected weekly export sales earlier lifted the
market to its highest in nearly six months.
Soybeans also turned lower after earlier hitting a 6-1/2
week high, while wheat futures fell for a third straight
CHICAGO (Reuters) – Exports of U.S. agricultural products such as wheat, rice, soybeans and meat products stand to gain from a surprise U.S. move toward repairing relations with Cuba, agriculture industry officials said on Wednesday.
U.S. Department of Agriculture Secretary Tom Vilsack called the move an “important opportunity” that will make exports of U.S. farm goods cheaper, easier and less time-consuming for shippers.
CHICAGO, Dec 17 (Reuters) – The normalization of diplomatic
relations between the United States and Cuba is an “important
opportunity” for U.S. agriculture that will make exports of U.S.
farm goods cheaper, easier and less time consuming for shippers,
U.S. Department of Agriculture Secretary Tom Vilsack said on
President Barack Obama announced on Wednesday that the
United States plans to restore diplomatic relations with Cuba
more than 50 years after they were severed, a major policy shift
after decades of hostile ties with the communist-ruled island.
CHICAGO, Dec 16 (Reuters) – Despite molding corn stocks and
unreliable alternate suppliers, China is not expected to
immediately revive U.S. corn imports following Beijing’s
expected approval of a biotech variety responsible for a
year-long halt to shipments.
U.S. corn prices hit five-month peaks this week, partly on
reports that Chinese approval of Syngenta AG’s
Agricure Viptera corn could come in the near future and that
this could also help sales of dried distiller’s grains (DDGs), a
corn-based animal feed, into their biggest market.
CHICAGO, Dec 16 (Reuters) – Chinese buyers signed nine
contracts for a total of more than 1 million tonnes of U.S.
soybeans at a ceremony in Chicago on Tuesday.
The purchases are for delivery to China, the world’s top soy
importer, in calendar year 2015, said a U.S. trader at the