Karl's Feed
Jul 23, 2015

Commodities shipper Trans Coastal Supply Co files for bankruptcy

CHICAGO (Reuters) – Commodities shipper Trans Coastal Supply
Company Inc filed for Chapter 11 bankruptcy on Thursday citing
more than $28 million in unsecured debt, according to a court
filing.

Its trade debt included over $12.1 million to CHS Inc
, the largest U.S. farmer-owned cooperative, and $3
million to grain handler and ethanol maker The Andersons Inc
, according to the filing seen by Reuters. Other
creditors included ethanol company Green Plains Inc and
commodities trader Cargill Inc.

Jul 16, 2015

Coast Guard reopens flood-swollen Illinois River to barge traffic

CHICAGO (Reuters) – The U.S. Coast Guard reopened a flood-swollen section of the Illinois River to commercial traffic on Thursday after the key grain shipping waterway began to drop from near record-high crests hit earlier this week.

About a dozen barge tows that had been stranded by the two-day closure of a 50-mile (80 km) stretch of the river between Kampsville and Versailles, Illinois, were allowed to transit south toward the Mississippi River and on to the Gulf Coast, industry sources said.

Jul 14, 2015

Flooding halts Illinois River barges, corn export costs jump

CHICAGO (Reuters) – The U.S. Coast Guard closed a 50-mile stretch of the Illinois River to all traffic on Tuesday as persistent heavy rains following the state’s wettest June on record swelled the waterway to within two feet of all-time highs in some areas.

Cash premiums for corn shipped in barges to the Gulf Coast for export surged to the highest in two weeks as river grain elevators in the country’s No. 2 corn-producing state were forced to stop loading vessels as barge lines sidelined boats.

Jul 2, 2015

Crop weather uncertainty lifts corn to 6-month peak

CHICAGO, July 2 (Reuters) – U.S. corn futures rose to a
six-month peak on Thursday, adding to strong gains earlier in
the week as adverse weather in parts of the U.S. Midwest and
Western Europe threatened crops.

Prices for soybeans and wheat were mixed as investors
squared positions ahead of the U.S. Independence Day holiday
weekend that begins on Friday, when U.S. markets are closed.

Jul 2, 2015

Corn climbs to six-month high on wet U.S. Midwest weather

CHICAGO, July 2 (Reuters) – U.S. corn futures rose to a
six-month peak on Thursday, adding to strong gains earlier in
the week as adverse weather in the parts of the U.S. Midwest and
Western Europe threatened crops.

Prices for soybeans and wheat also firmed as investors
squared positions ahead of the U.S. Independence Day holiday on
Friday, when U.S. markets are closed.

Jul 1, 2015

Out of the pits, Chicago traders seeking booths with a view

CHICAGO, July 1 (Reuters) – For many Chicago commodity
traders like Redmond Harkins, little will change when the city’s
fabled futures pits shut down after more than 165 years of
open-outcry dealing.

The 27-year veteran dealer will continue taking the
hour-long train trip to the storied Art Deco Chicago Board of
Trade building on West Jackson Boulevard, where most futures
dealers long ago abandoned the art of trading soybeans or hog
futures through flailing hand signals and guttural shouts.

Jun 29, 2015

U.S. rains attract grain buyers’ attention, but not business

CHICAGO, June 29 (Reuters) – Heavy rains swamping U.S.
farmland are grabbing the attention of global grain buyers as
prices of corn and soybean futures soar on concerns about damage
from the deluge.

But demand for U.S. exports probably will not surge as the
weather worries spread beyond the farmhouses and coffee shops of
the rural Midwest. There is still plenty of cheaper grain
available from other countries.

Jun 29, 2015

Civil War buffs on Confederate flag debate: It’s complicated

BENSENVILLE, Illinois (Reuters) – If you’re looking for simple answers about the Confederate flag’s place in contemporary America, don’t ask a Civil War reenactor.

“Long story short, it’s complicated,” said Mark Edmondson, who played a Union infantryman at a reenactment event in suburban Chicago over the weekend.

Jun 22, 2015

Bird flu cuts egg-laying hen flocks, poultry meat stocks grow

CHICAGO (Reuters) – The worst-ever U.S. bird flu outbreak has cut the country’s inventory of egg-laying hens to the smallest in at least seven years, while the stockpile of frozen poultry in storage has swelled due to bans in about 40 countries of U.S. meat imports, government data showed on Monday.

Highly pathogenic avian influenza has claimed 48 million birds since December, most of them chickens and turkeys either killed by the disease or culled to control its spread, according to the U.S. Agriculture Department’s Animal and Plant Health Inspection Service.

Jun 17, 2015

Floods disrupt grain shipping on Illinois River

CHICAGO (Reuters) – Flooding halted barge traffic on the Illinois River on Wednesday and high water levels prompted futures market operator CME Group Inc to declare force majeure for all corn and soybean shipping stations for the first time in more than two years.

Barge lines have voluntarily stopped shipping traffic after heavy rains, river merchants said. CME, which owns the Chicago Board of Trade (CBOT) and other markets, said a majority of shipping stations on the river were unable to load crops due to high water levels.