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.
By Karl Plume
(Reuters) – Cargill Inc [CARG.UL], a top global commodities trader, said on Thursday its quarterly earnings fell as drought limited farm services opportunities in the United States and due to a loss stemming from the drop in the value of Venezuela’s currency.
Minneapolis-based Cargill was also stung by elevated rail shipping costs and railcar shortages in the northern U.S. Plains states, which have similarly impacted rival agribusinesses Archer Daniels Midland Co (ADM.N: Quote, Profile, Research, Stock Buzz) and Bunge Ltd (BG.N: Quote, Profile, Research, Stock Buzz).
Aug 7 (Reuters) – Cargill Inc, a top global
commodities trader, said on Thursday its quarterly earnings fell
as drought limited farm services opportunities in the United
States and due to a loss stemming from the drop in the value of
Minneapolis-based Cargill was also stung by elevated rail
shipping costs and railcar shortages in the northern U.S. Plains
states, which have similarly impacted rival agribusinesses
Archer Daniels Midland Co and Bunge Ltd.
CHICAGO, Aug 4 (Reuters) – U.S. wheat futures jumped nearly
3 percent on Monday, the strongest gain in 3-1/2 months, as
grain quality concerns in western Europe due to persistent rain
increased investor appetite for U.S. supplies.
Corn and soybeans climbed in a short-covering bounce from
recent lows and as pockets of dry weather around the U.S.
Midwest sparked some scattered production concerns. But prices
remained anchored by the prospect of near-record production in
the United States.