By Karl Plume
(Reuters) – U.S. agribusiness Archer Daniels Midland Co (ADM.N: Quote, Profile, Research, Stock Buzz) boosted trading revenue last quarter, navigating choppy markets better than its rivals, but saw its profit slump on soaring corn prices and poor oilseed processing margins.
While volatile markets tripped up competitors Cargill CARG.UL and Bunge (BG.N: Quote, Profile, Research, Stock Buzz) in the global grains trade, ADM reported its grain merchandising and handling profits more than doubled as exports from the drought-hit Black Sea region resumed after a year-long hiatus.
Oct 27 (Reuters) – Agricultural processor Bunge Ltd’s third quarter profit fell 34 percent as drought-reduced
sugar milling volumes and hedging losses tied to a tumbling
Brazilian currency weighed on results.
Volatile commodities markets, whipsawed by global economic
uncertainty, also posed a risk management challenge for the
White Plains, New York-based company.
CHICAGO (Reuters) – For the first time in 40 years, U.S. corn exporters are not out-selling the rest of the world.
Domestic ethanol is sucking up record crops. Emerging suppliers like Brazil and Ukraine are taking export share, while traditional exporters like Argentina move to open new markets. And consumers worldwide are looking to save every penny, cutting shipping costs or using other types of feed.
CHICAGO (Reuters) – Major U.S. grain companies have tightened curbs on genetically modified grains not yet approved by foreign markets, with some singling out one popular corn variety made by Syngenta, fearing any trace of the biotech grain in shipments could shut off export markets.
The action was taken just weeks before the U.S. corn harvest, when this variety of corn could enter market channels.
CHICAGO, Sept 1 (Reuters) – Major U.S. grain companies have
tightened curbs on genetically modified grains not yet approved
by foreign markets, with some singling out one popular corn
variety made by Syngenta (SYNN.VX: Quote, Profile, Research, Stock Buzz), fearing any trace of the
biotech grain in shipments could shut off export markets.
The action was taken just weeks before the U.S. corn
harvest, when this variety of corn could enter market
DEFIANCE, Ohio (Reuters) – Except for the spiffy Hunter rain boots that can cost more than $100 a pair, the fund manager was one with the crowd — farmers and industry folk in a muddy corn field in the heart of U.S. grain country.
Far from their computers and other gadgets that are the trappings of Wall Street, those in the multi-billion-dollar hedge fund industry are making their way to the corn fields in the midwestern United States in increasing numbers.
CHICAGO, Aug 2 (Reuters) – U.S. agricultural processor
Archer Daniels Midland Co’s (ADM.N: Quote, Profile, Research, Stock Buzz) quarterly earnings fell as
a sharp jump in income tax expenses and soaring corn prices
dragged on results, sending its shares down 4 percent in
Revenue increased and operating profit rose in each of
ADM’s business segments except for corn processing, which was
squeezed by record-high corn prices, the Decatur,
Illinois-based company reported on Tuesday.
CHICAGO (Reuters) – Grain prices will likely remain elevated at the end of this year, a Reuters poll showed, providing little relief to food prices while continuing to challenge policymakers battling to tamp down inflation.
Many analysts say the era of cheap food may well be over as rising crop production struggles to keep pace with soaring global demand, particularly from the mushrooming middle-class populations of developing nations such as China and India.
WASHINGTON/CHICAGO (Reuters) – Ethanol appears almost certain to win the food-versus-fuel contest in the United States. But not just yet.
The Agriculture Department forecast that a tad more corn will be used to make ethanol than to feed livestock this year may be a false milestone: ethanol makers say they won’t use that much corn while producing a record amount of the biofuel, hewing to a more efficient conversion rate.
CHICAGO, July 14 (Reuters) – The worst drought in decades
tightened its grip on the southern U.S. Plains in the past week
as triple-digit temperatures and a lack of rain scorched cattle
grazing pastures and parched crops, according to a report
issued by U.S. climatologists on Thursday.
Exceptional drought, the most severe category measured by
climatologists, now encompassed more than 70 percent of Texas
and more than 40 percent of Oklahoma.