Karl's Feed
Oct 4, 2012

Soybeans rally on strong exports, damage to canola crop

CHICAGO, Oct 4 (Reuters) – U.S. soybeans rallied 1.5 percent
on Thursday, gaining for a second straight day, on evidence of
strong export demand after prices tumbled to a three-month low
and on a report showing larger-than-expected weather damage to
Canada’s canola crop.

Soybeans, along with corn and wheat, were also boosted by
investors shedding their dollar holdings in favor of risk assets
like commodities as European Central Bank President Mario Draghi
vowed to preserve the euro as Europe battles its debt crisis.

Sep 19, 2012

Busiest lock on Mississippi River closed for repairs

Sept 19 (Reuters) – The busiest lock on the Mississippi
River remained closed on Wednesday after being shut for
emergency repairs over the weekend, causing a backup of
commercial vessels on the crucial shipping waterway, government
officials said.

Lock operators hope to reopen the lock Thursday morning
allowing river traffic to resume.

Sep 19, 2012

Busiest lock on Mississippi River closed for emergency repairs

Sept 19 (Reuters) – The busiest lock on the Mississippi
River remained closed on Wednesday after being shut down for
emergency repairs over the weekend, causing a backup of
commercial vessels on the crucial shipping waterway, government
officials said.

The closure of lock and dam 27, the southernmost lock on the
Mississippi River’s lock system and just upriver from St. Louis,
is estimated to result in some $2.5 million to $3 million in
lost revenue each day that it is closed as shipments of grain,
coal and other commodities are delayed.

Sep 6, 2012

US Gulf spot corn basis at 3-year low on post-Isaac supply glut

Sept 6 (Reuters) – Cash premiums for spot corn barges at the
U.S. Gulf Coast plunged to a near-three-year low this week as
newly harvested supplies were piling up at export terminals
which have yet to recover fully from Hurricane Isaac, trade
sources said.

Some grain export houses which sustained only minimal damage
from the category 1 storm that came ashore near New Orleans last
week expected to resume normal operations by the end of the week
but others may remain offline for longer, they said.

Aug 2, 2012

Mexico makes biggest US corn buy in decades as crop shrinks

CHICAGO, Aug 2 (Reuters) – Mexico raided the U.S. corn
market by making the biggest one-day purchase in over two
decades this week, the first clear sign of global anxiety over
the decimated U.S. crop.

Mexico, the No 2 importer of U.S. corn after Japan, bought
1.516 million tonnes, the U.S. Agriculture Department said on
Thursday, a move traders said could touch off a frenzy of buying
by other countries who have been caught flatfooted by the worst
U.S. drought in 56 years.

Aug 2, 2012

Mississippi River traffic halted as vessels run aground

Aug 2 (Reuters) – The Mississippi River was closed to
traffic at two locations on Thursday as barge tows ran aground
near Greenville, Arkansas, and La Crosse, Wisconsin, due to low
water amid the worst U.S. drought in 56 years, private and
government sources said.

It was unclear when the key shipping waterway might be
reopened to commercial traffic, they said.

Aug 2, 2012

Drought worsens in U.S. farm states-climatologists

Aug 2 (Reuters) – The worst U.S. drought in 56 years
intensified over the past week as above-normal temperatures and
scant rainfall parched corn and soybean crops across the Midwest
and central Plains, a report from climate experts said on
Thursday.

The drought became more severe in the southern United States
as well, just a year removed from a record-breaking dry spell
that ruined crops and wilted grazing pastures across Texas and
Oklahoma enough to force an unprecedented northward migration of
cattle.

Aug 2, 2012

U.S. Midwest and central Plains bake as drought intensifies

By Karl Plume

(Reuters) – The worst U.S. drought in 55 years intensified over the past week as above-normal temperatures and scant rainfall parched corn and soybean crops across the Midwest and central Plains, a report from climate experts said on Thursday.

Nearly two-thirds of the contiguous United States was under some level of drought as of July 31, more than a fifth of it classified as extreme drought or worse, according to the Drought Monitor, a weekly report compiled by U.S. climate experts.

Jul 31, 2012

Lion’s share of crops to swelter into August

CHICAGO (Reuters) – The midday weather model suggested a slightly wetter pattern for the U.S. Midwest where corn and soybean crops have withered under an extensive drought, but rainfall will be only scattered and light, agricultural meteorologists forecast Tuesday.

“There’s going to be rain, but it’s just not going to be heavy enough to dramatically improve the situation in very many areas. There’s no general soaking over the next two weeks,” said Andy Karst of World Weather Inc.

Jul 27, 2012

Drought slashes Midwest corn crop

OMAHA, Nebraska (Reuters) – The most extensive drought in five decades has left corn plants withered and dying, and crop yields in the largest producing states will be much lower than experts have forecast, scouts said on Friday as they completed a U.S. Midwest crop tour.

The MDA EarthSat crop tour estimated a corn yield of a 118 bushels per acre after surveying 49 fields in Iowa, Illinois, Indiana and Ohio. That was sharply lower than a U.S. Agriculture Department estimate earlier this month of a yield of 146 bpa and a Reuters poll this week of 130.8 bpa.