Karl's Feed
Oct 1, 2013

After years of crop crises, U.S. harvest may signal new era of plenty

Oct 1 (Reuters) – For much of the past six years, the global
grain markets have lurched from one crop crisis to the next,
keeping inventories low and food prices high.

Now, as harvest machines across the U.S. Midwest prepare to
reap the nation’s biggest corn crop in history, a sea change
seems imminent, one that could transform the market. No longer
will a constant a fear of scarcity drive prices. Instead,
traders will be battling for market share instead of scrambling
for supplies.

Sep 30, 2013

ADM Investor Services fined $425K for commingling customer funds

CHICAGO (Reuters) – The U.S. Commodity Futures Trading Commission fined futures brokerage ADM Investor Services Inc $425,000 for commingling customer funds with funds from its non-customer accounts, the top U.S. derivatives regulator said Monday in a release.

As a futures commission merchant, ADM Investor Services, which is a fully owned subsidiary of U.S. agribusiness giant Archer Daniels Midland, is required to keep customer funds segregated from other accounts per Section 4d(a)(2) of the Commodity Exchange Act.

Sep 30, 2013

After years of crop crises, U.S. harvest beckons new era of plenty…almost

Sept 30 (Reuters) – For much of the past six years, the
global grain markets have lurched from one crop crisis to the
next, keeping inventories low and food prices high.

Now, as harvest machines across the U.S. Midwest prepare to
reap the nation’s biggest corn crop in history, a sea change
seems imminent, one that could transform the market. No longer
will a constant a fear of scarcity drive prices. Instead,
traders be battling for market share instead of scrambling for
supplies.

Sep 16, 2013

Chinese importers sign deals to buy $2.8 billion of U.S. soybeans

DAVENPORT, Iowa, Sept 16 (Reuters) – Chinese companies
signed agreements with U.S. agricultural exporters on Monday to
buy 4.83 million tonnes of U.S. soybeans valued at about $2.8
billion.

At a ceremony hosted by the U.S. Soybean Export Council,
officials from Chinese companies including COFCO, Sinograin, and
Chinatex signed 13 separate agreements with representatives from
Archer Daniels Midland, Bunge, Columbia Grain and
others.

Jul 21, 2013

Insight: Canadian train disaster a dark turn for rail veteran

By Karl Plume, P.J. Huffstutter and Ernest Scheyder

(Reuters) – A blinding flash of orange light jarred Weyauwega residents awake before dawn on March 4, 1996. An 81-car freight train had been barreling toward the farm town in central Wisconsin when it jumped a broken rail. The train’s propane and petroleum cargo had caught fire and exploded.

Gerald Poltrock II, a rookie local police officer, thought it was a prank when the dispatcher called to say the city “blew up.”

Jul 21, 2013

Canadian train disaster a dark turn for rail veteran

July 21 (Reuters) – A blinding flash of orange light jarred
Weyauwega residents awake before dawn on March 4, 1996. An
81-car freight train had been barreling toward the farm town in
central Wisconsin when it jumped a broken rail. The train’s
propane and petroleum cargo had caught fire and exploded.

Gerald Poltrock II, a rookie local police officer, thought
it was a prank when the dispatcher called to say the city “blew
up.”

Jun 25, 2013

Rising Mississippi River to halt barge shipping again -Army Corps

June 25 (Reuters) – Rising water on the Mississippi River
will force the U.S. Army Corps of Engineers to close numerous
locks on the major shipping waterway for the second time this
month, from central Iowa to central Missouri.

The river is already above flood stage at numerous locations
following recent heavy rains and more precipitation is in the
forecast for the region.

Jun 23, 2013

Blackhawks’ Kane, small in stature but big in the clutch

CHICAGO (Reuters) – Patrick Kane is among the smallest players on the ice but the speedy forward continues to rise to the occasion at the game’s biggest moments.

Just under six feet tall (1.83m), the 24-year-old Blackhawks playmaker has a knack for important goals and on Saturday scored twice in Chicago’s 3-1 win over the Boston Bruins in Game Five of the Stanley Cup Finals.

Jun 15, 2013

Threats made to figures at center of IRS controversy: sources

WASHINGTON/CINCINNATI (Reuters) – A current and a former top tax official have been physically threatened in recent weeks as the scandal over Internal Revenue Service targeting of Tea Party and other conservative groups has gathered steam, people familiar with their situation say.

Ousted IRS acting commissioner, Steven Miller, has received such threats, according to a source familiar with his situation. The source declined to elaborate on the nature or the source of the threats.

Jun 10, 2013

USDA mediates wheat dispute after Egypt’s GASC rejects cargo

June 10 (Reuters) – U.S. Agriculture Department officials in
Cairo stepped in to resolve a major contract dispute between
U.S.-based grain exporter CHS Inc and the General Administration
for Supply Commodities (GASC), Egypt’s government wheat buyer,
according to a USDA attache report.

The dispute arose after a 60,000-tonne cargo of Canadian
soft red winter wheat sold by CHS was rejected by Egyptian
quarantine authorities in April for containing a
higher-than-allowed amount of ambrosia seeds.