CHICAGO, Feb 27 (Reuters) – U.S. farmers should closely
consider the markets they serve when choosing to plant a new
genetically modified Syngenta AG corn variety as it is
not approved by all major importers, including China, the U.S.
Grains Council said on Thursday.
Grain exporters also need to be keenly aware of the
varieties they handle to prevent further disruptions to
international trade, said USGC, which helps develop foreign
markets for grain.
CHICAGO, Feb 21 (Reuters) – U.S. corn futures fell for the
first time in six sessions on Friday in a profit-taking setback
ahead of the weekend and as weekly export sales data came in
well below trade expectations.
Soybeans shrugged off the lightest week of export sales this
season and edged higher, supported by concerns about tight U.S.
CHICAGO, Feb 18 (Reuters) – U.S. soybean futures surged to a
five-month high on Tuesday as adverse weather in South America
fuelled concerns about smaller crops in key exporters Brazil and
Wheat rose for a third consecutive session, underpinned by
technical momentum from recent gains and worries that a harsh
winter may cut production in the United States.
Corn prices firmed on spillover support from rallying
soybeans, but abundant supplies following a record-large U.S.
harvest anchored the market.
“The U.S. grain trade has been behind in reacting to the
weather situation in South America,” said Rich Nelson, chief
strategist with consultancy Allendale Inc.
Analysts at Brazilian consultancy AgRural shaved 1.8 million
tonnes off their estimate for Brazil’s 2013-14 soybean crop on
Monday, saying drought in much of the country in recent weeks
had reduced yields.
AgRural now expects a crop of 87 million tonnes, down from
88.8 million tonnes previously and well below the U.S.
Department of Agriculture estimate for 90 million tonnes.
“After the decline in AgRural’s soybean production estimate
over the weekend, we’re wondering if we maybe have to start
taking a bit off the expectations we’ve been talking about over
the last couple of weeks,” Nelson said.
In Argentina’s main soybean-growing region, weeks of heavy
rain have encouraged the spread of caterpillars that are eating
into the 2013/14 season’s crop yields, a climate expert said on
The less favourable conditions in South America added to
concerns about tight U.S. soybean stocks, which have been
whittled down by record-strong export demand. Meanwhile,
cancellations of U.S. purchases by China and switching of orders
toward South American supplies have been below expectations.
Chicago Board of Trade March soybeans jumped 22-3/4
cents, or 1.7 percent, to $13.60-1/4 per bushel by 10:30 a.m.
CST (1630 GMT), the highest for a spot-month contract since
CBOT March wheat rose 9 cents, or 1.5 percent, to a
six-week peak of $6.07-1/2 a bushel. CBOT March corn added
2-1/4 cents, or 0.5 percent, to $4.47-1/2 a bushel.
Prices at 10:35 a.m. CST (1635 GMT)
LAST NET PCT YTD
CHG CHG CHG
CBOT corn 447.50 2.25 0.5% 6.0%
CBOT soy 1360.00 22.50 1.7% 3.6%
CBOT meal 456.90 6.90 1.5% 4.4%
CBOT soyoil 40.14 0.99 2.5% 3.4%
CBOT wheat 607.75 9.25 1.6% 0.4%
CBOT rice 1563.00 4.50 0.3% 0.8%
EU wheat 199.00 0.75 0.4% -4.8%
CHICAGO, Feb 12 (Reuters) – U.S. agribusiness Archer Daniels
Midland is tightening its grain moisture guidelines for
corn shipped on barges to U.S. Gulf Coast export terminals
beginning in August to better meet export standards, trade
sources said on Wednesday.
From Aug. 1, ADM will discount yellow corn barges with grain
moisture above 14.5 percent, versus 15 percent previously, they
CHICAGO, Feb 12 (Reuters) – A tailored mix of farming
technologies could significantly improve global food security by
mid-century as the world’s population swells to a projected 9
billion and the risk of adverse weather from climate change
threatens crops and disrupts trade, according to a study
published on Wednesday.
Global corn yields could jump by as much as 67 percent by
2050, while wheat and rice yields may rise around 20 percent if
certain innovations are paired, the International Food Policy
Research Institute said in a study titled “Food Security in a
World of Natural Resource Scarcity.”
CHICAGO, Feb 6 (Reuters) – Chinese importers canceled
purchases of four cargoes of U.S. corn this week, after one
cargo was diverted to Vietnam last week, U.S. government data
showed on Thursday, as a dispute over an unapproved genetically
modified strain remained unresolved.
The U.S. Department of Agriculture confirmed, via its daily
reporting system, the cancellation of 220,000 tonnes of corn by
China for shipment in the current marketing year.
CHICAGO, Feb 5 (Reuters) – A winter storm that brought heavy
snow and ice to much of the U.S. Midwest farm belt on Wednesday
slowed grain and livestock shipments to a near standstill,
reduced pork production and halted wheat milling at the
country’s second-largest flour mill.
“The path of the greatest snow occurred from the central
Plains, Kansas and Oklahoma, east and northeast into Ohio and
parts of Michigan,” said Drew Lerner, meteorologist with World
Weather Inc. “That’s prime crop country.”
Feb 4 (Reuters) – U.S. agribusiness giant Archer Daniels
Midland Co said Tuesday it remained committed to
expanding its global reach to satisfy Asia’s fast-growing demand
for food, despite a failed bid to acquire Australian grain
handler GrainCorp Ltd.
Charges relating to the GrainCorp deal contributed to a
27-percent drop in ADM’s fourth-quarter profit, overshadowing
strength in its corn processing and oilseeds businesses as lower
crop prices boosted margins.
By Karl Plume
(Reuters) – U.S. agricultural processor Archer Daniels Midland Co (ADM.N: Quote, Profile, Research, Stock Buzz) reported a 27-percent drop in quarterly earnings on Tuesday as charges related to its failed acquisition of GrainCorp overshadowed strength in its corn processing and oilseeds businesses.
The Decatur, Illinois-based company had pursued grain handler GrainCorp for 13 months before Australia’s government blocked the deal in November, striking a blow to ADM’s plan to expand to meet fast-growing demand in Asia and the Middle East.
CHICAGO, Jan 24 (Reuters) – U.S. wheat futures slid nearly 1
percent on Friday in a profit-taking setback following the
steepest rally in three months the previous session on worries
that a cold snap in the Midwest and Plains could damage the
dormant winter crop.
Soybeans rebounded from early session losses as strong U.S.
export sales offset pressure from favorable crop weather in
major exporter Argentina and rising crop forecasts for Brazil,
the world’s top soy supplier. Talk of fresh Chinese demand for
near-term U.S. supplies propelled prices to session highs late.