CHICAGO, Dec 16 (Reuters) – Despite molding corn stocks and
unreliable alternate suppliers, China is not expected to
immediately revive U.S. corn imports following Beijing’s
expected approval of a biotech variety responsible for a
year-long halt to shipments.
U.S. corn prices hit five-month peaks this week, partly on
reports that Chinese approval of Syngenta AG’s
Agricure Viptera corn could come in the near future and that
this could also help sales of dried distiller’s grains (DDGs), a
corn-based animal feed, into their biggest market.
CHICAGO, Dec 16 (Reuters) – Chinese buyers signed nine
contracts for a total of more than 1 million tonnes of U.S.
soybeans at a ceremony in Chicago on Tuesday.
The purchases are for delivery to China, the world’s top soy
importer, in calendar year 2015, said a U.S. trader at the
Dec 12 (Reuters) – Rejections of U.S. distillers’ dried
grain (DDGs) shipments, first by China and then by Turkey, are
isolated events and not a sign of broader trade disruptions to
come, U.S. traders and industry sources said on Friday.
The U.S. Grains Council on Thursday confirmed that Turkey
has rejected three shipments of the feed ingredient and ethanol
byproduct as it steps up enforcement of rules on imports of
genetically modified corn. A fourth cargo was diverted from the
No. 6 buyer of U.S. DDGs.
CHICAGO, Dec 12 (Reuters) – U.S. corn futures rose for a
second straight day on Friday, with the benchmark contract
rising above $4 a bushel to its highest in nearly five months,
fueled by short-covering and technical buying.
Wheat futures extended a rally to move above the
psychological $6 a bushel barrier as buying interest from
investment funds outweighed signs of a large global supply and
uncompetitive U.S. export prices.
CHICAGO, Dec 11 (Reuters) – U.S. corn futures rallied to a
one-month high Thursday on strong export sales and technical
buying, but prices came off peaks on a lack of follow-through
buying amid plentiful supplies.
Soybeans rose to recoup some losses from Wednesday, when the
market shrugged off a cut to U.S. stocks by the U.S. Department
of Agriculture and focused on improving chances of bumper crops
in South America.
CHICAGO, Dec 5 (Reuters) – U.S. grain transportation costs
have slumped to multi-year lows as last winter’s weather-related
shipping problems have so far failed to materialize, but even a
modest cold snap could still overwhelm the nation’s train, barge
and truck network and send costs soaring again.
Food company Kraft Foods Group Inc warned recently
that industry wide logistic problems would drag on earnings, and
grain processor Archer Daniels Midland Co said this week
that rail service troubles could flare up in the first quarter
Nov 19 (Reuters) – Archer Daniels Midland Co sued
seed company Syngenta AG on Wednesday over sales of a
genetically modified corn variety not approved for import by
China, joining more than 100 farmers and exporters in pursuing
damages from the Swiss-based company.
The lawsuit alleges that Syngenta commercialized the MIR162
corn variety, also known as Agrisure Viptera, without creating
an effective stewardship program to ensure the grain would not
be shipped to markets that have not approved it.
Nov 13 (Reuters) – A consortium of farmer organizations and
agriculture data technology providers on Thursday published a
set of data privacy and security principles aimed at reassuring
farmers that data they share with Big Data services providers
will not be misused.
The non-binding principles are also meant to provide
companies that collect, store and analyze farmer data some
guidelines when crafting their service contracts and marketing
tools that use farm data to boost crop yields or reduce costs
CHICAGO, Nov 4 (Reuters) – U.S. agribusiness Archer Daniels
Midland Co on Tuesday forecast tighter U.S. ethanol
margins in the fourth quarter following a steep drop in oil
prices, but said its biofuel business will remain strong in 2015
due to the low cost of corn.
Ethanol prices dropped in tandem with plunging energy prices
in recent months as the summer driving season ended and
inventories of the corn-based biofuel ballooned, eroding the
strongest margins in years to the lowest in seven months.
CHICAGO (Reuters) – Archer Daniels Midland Co (ADM.N: Quote, Profile, Research, Stock Buzz) the giant U.S. agribusiness group, said on Tuesday that adjusted third-quarter earnings jumped 72 percent as gains in corn processing and agricultural services more than offset flat results in oilseed processing.
But revenues fell from a year ago and missed Wall Street estimates as sharply lower crop prices prompted many farmers to store their corn and soybeans instead of selling them.