Sept 30 (Reuters) – Archer Daniels Midland Co
strengthened its hand in the global grains marketplace by
acquiring a stake in a second export terminal in the U.S.
Pacific Northwest, a vital gateway for U.S. agricultural
shipments to Asia.
Illinois-based ADM said on Tuesday that it gained an
ownership stake in the Columbia Grain export terminal in
Portland, Oregon, by expanding its Kalama Export Company joint
venture with Japanese grain trader Marubeni Corp,
previously the terminal’s sole owner.
CHICAGO, Sept 26 (Reuters) – A fire apparently set by an
employee at a Chicago-area air traffic control center led to the
cancellation of more than 1,700 flights at the city’s two major
airports, snarling air traffic across the United States,
Flights resumed at O’Hare International Airport, one of the
world’s busiest, after a delay of about four hours, but there
were bottlenecks across the entire air system that carriers
expect to last through the weekend.
CHICAGO (Reuters) – An intentionally set fire at a Chicago-area air traffic control center led to the cancellation of more than 1,000 flights at the city’s two major airports, snarling air traffic across the nation.
The blaze at the facility in Aurora, outside of Chicago, apparently was set by a man who suffered self-inflicted wounds, Aurora police said. There were no indications that it was an act of terrorism and the blaze was extinguished, it said.
CHICAGO, Sept 25 (Reuters) – With a record U.S. harvest just
coming in, the river transportation system that is at the heart
of the nation’s farm economy is overstrained by rising demand
for shipping capacity, a low barge inventory, and a dilapidated
The pressure is building on an inland waterways network that
is just one flood, drought or mechanical breakdown from calamity
after decades of neglect, industry sources say.
CHICAGO, Sept 25 (Reuters) – U.S. wheat futures plunged more
than 2 percent on Thursday to a four-year low on fears that a
rising dollar could hamper global demand for U.S. exports as
global supplies rise to a record high.
Corn and soybeans dropped about 1 percent on spillover
pressure from sinking wheat and on rising supplies from the
rapidly advancing harvest of record-large crops.
CHICAGO, Sept 24 (Reuters) – U.S. wheat futures jumped more
than 1 percent on Wednesday as a recent plunge to four-year lows
encouraged investors to cover short positions as the lower
prices sparked improved export demand.
Corn and soybean futures also ticked higher in a
short-covering bounce from four-year lows, though good weather
speeding the harvest of expected record crops in the U.S.
Midwest anchored prices.
CHICAGO, Sept 23 (Reuters) – U.S. corn and soybean futures
fell to four-year lows on Tuesday as mild and mostly dry weather
across the U.S. Midwest is expected to boost the harvest of
Wheat fell in tandem with retreating corn and soy, anchored
by plentiful global supplies and strong competition for export
CHICAGO, Sept 12 (Reuters) – Cargill Inc, the top
U.S. grain exporter, sued a unit of Syngenta AG in a
Louisiana state court on Friday for damages stemming from
China’s rejection of genetically modified U.S. corn, which
Cargill said cost the company more than $90 million.
Minnesota-based Cargill accuses Syngenta of exposing the
grain trader to losses by selling the seeds to American farmers
before the Swiss company had secured import approval from China,
a major buyer.
CHICAGO (Reuters) – Retail giant Wal-Mart (WMT.N: Quote, Profile, Research, Stock Buzz) joined a group of volunteers counting corn ears and soybean pods in fields in the United States recently in a clear sign traditional crop tours are expanding their appeal from farmers and traders to all those with a stake in the U.S. food chain.
These annual trips to gather detailed on-the-ground information on crops in the world’s biggest grains producer have long been seen as a way to glean market-moving details not found in commodity analyst notes or government reports.
CHICAGO (Reuters) – Global commodity merchant Cargill Inc is revamping its energy trading unit after two weak quarters in a row and refocusing on U.S. oil markets for a “fresh start” in fiscal 2015, a top executive said on Thursday.
Cargill was caught wrong-footed on energy positions during an exceptionally cold North American winter that triggered record volatility in energy prices. A large third-quarter loss was followed by damage control in the fourth quarter ended May 31. Energy trading was a factor behind a 12 percent decline in net earnings for the fiscal 2014 fourth quarter.